Phil Cannella Complaints – Phil Cannella Says An Annuity is Not for Short-Term Financial Goals – Phil Cannella Complaints

Phil Cannella Complaints, Phil Cannella Lawsuits, Phil Cannella Reviews

Phil Cannella, in his drive to educate the everyday investor on financial vehicles to lead a safe and secure retirement, often speaks about annuities. Phil Cannella explains that annuities have a very specific niche and fit a very exact need and any financial professional worth his or her salt will assess the goals and needs of the client he or she is sitting with before recommending an annuity.

One emphatic point that Phil Cannella makes is that annuities are not designed to reach short-term financial goals. Annuities are generally designed and intended to provide an income stream for retirement. Funds accrue on a tax-deferred basis, and like 401(k) contributions, can only be withdrawn without penalty after age 59.5.

Someone who wants to make some money fast or put money into a vehicle and pull it out within a few years shouldn’t look at an annuity says Phil Cannella. Many annuities have penalties for early withdrawals but on the other hand provide a nice bonus if you stay in the contracts for the duration. Like most financial vehicles, annuities have their benefits and their drawbacks, says Phil Cannella. What is important is that the consumer understand the vehicle he is looking at using and determine if it is the best one to fit his or her goals.

Phil Cannella Complaints, Phil Cannella Lawsuits, Phil Cannella Reviews

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