Phil Cannella – Phillip Cannella News: Phil Cannella points out a sharp difference between the two very general phases of one’s financial life. First there is the Accumulation Phase which is, as explained by Phil Cannella: “During the Accumulation Phase, you work, save and invest for your retirement. That’s it – that’s the Accumulation Phase. You invest your savings in such a way that they (hopefully) grow into a sizable nest egg by the time you’re ready to retire.”
That is exactly what you should be striving for, accumulating enough of a nest egg through your working years so that when you come to retire you have sufficient assets to enjoy the very retirement that you worked all your life to have. By the time you reach retirement your kids should hopefully be fully grown up, through college and living on their on. Thus your expenses should be reduced. Phil Cannella explains that this is a critical time in your life as you are transitioning from one phase, the accumulation phase to another phase, the retirement phase of your life.
Phil Cannella stresses that once you are in your retirement phase you can to consider other factors that could impact your lifestyle and now you need an Advisor to work with you who is well trained and versed in the retirement aspect and laws such as regulations concerning IRAs.
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