Phil Cannella – Phillip Cannella News: Phil Cannella
Phil Cannella is very strong-minded when he urges those in or approaching retirement on getting their accounts out of risk.
As Phil Cannella puts it himself: “So, what does it mean when I tell you to take your accounts out of risk? It means putting your nest egg in a position where if you need income in the future, it will be tax-favored. It means placing your investments in a position where their value won’t decrease or your principal won’t be lost in a bad economy. It means putting yourself in a position where if you pass away, your heirs won’t have to deal with the headaches and expenses of probate, not to mention the publication of your estate – at least for a major portion of your assets.”
Having one’s investment accounts out of risk as a retiree is critical explains Phil Cannella for risk has two sides, one side is the potential gain. The other side is the potential loss. A loss, if a large one, could have devastating consequences on a retiree who is now out of the work force and who depends on that asset to grow in order in order to make it through retirement.
Hence Phil Cannella is very mindful that we eliminate as much risk as possible as we progress into our retires years.
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