Phil Cannella makes great analogies
Phil Cannella – Phillip Cannella News: Phil Cannella makes a great analogy between retirement and a game. In a game, you don’t win until the end. No matter the score at half-time, you have to keep going until the final whistle to be sure of success.
Phil Cannella, the first part is the Accumulation Phase
According to Phil Cannella, “In many ways, holding on to this common notion, ‘I did it! I made it! I’m done!’ can be very dangerous to the American retiree. After all, any game is won or lost in the second half, not the first. It is the end score that counts, not the halftime score. It’s the second half of your financial life that is the most important part of the most important game you’ll ever play. The outcome affects you, your spouse, your heirs and your legacy as well. There are two parts to this game called your financial life.”
What are these two parts to this game? Per Phil Cannella, the first part is the Accumulation Phase, that part of your life where you are accumulating your wealth. The second part is the Retirement Phase. This is the part of your life when you are switching over to retirement and now need to take all that you have accumulated and according to Phil Cannella need to meet with an Advisor who is a specialist in the retirement phase of his life.
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