Phil Cannella – Phillip Cannella Media: Phil Cannella, investigative reporter and founder of Retirement Media, Inc, helps his readers understand the difference between the two types of financial accounts available to retired people so that they can better protect their nest egg. The options are broker-driven and client-driven financial accounts.
Broker-Driven Financial Vehicle
Broker-driven financial vehicles are the products that financial advisors endorse, recommend, direct and protect to no end. Phil Cannella points out that financial advisors and brokerage firms only prefer these products because they collect ongoing fees and commissions from them, but they are not the right vehicle for retirees. This is because they are securities-based, which means your assets remain susceptible to market downturns.
Client-Driven Financial Vehicles
Phil Cannella suggests retirees use client-driven financial vehicles, which are money instruments that favor the owner instead of the advisor. These accounts can help retirees stay ahead of inflation without market risk and without worrying about losing principal.
There are no ongoing market fees associated with these vehicles and commissions are not paid from the account to the advisor. Another reason Phil Cannella prefers client-driven accounts for retirees is because you don’t have to pay taxes on accumulation until you withdraw. That means if you leave the gains in your retirement account, you won’t have to pay taxes on money that you’ve made but are not using.
No matter how different they may be, all financial instruments have one thing in common: they were each designed for a specific purpose. Phil Cannella reminds you not to make the mistake of choosing ones that aren’t right for you and your situation.
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Phil Cannella – Champion of Consumer Advocacy
With the uncertainty and volatility of the market, Phil Cannella, with First Senior Financial Group, prides himself on ensuring a safe retirement future for senior consumers. With an unparalleled devotion to educating seniors, Phil Cannella works endlessly to know and understand the ever changing tax laws and economic changes that can adversely affect one’s nest egg. Thousands of senior citizens have gone through First Senior Financial Group’s education process and learned how to have up to an 85% tax free retirement income.
As if that isn’t reason enough to respect Phil Cannella, the truly amazing thing about how he runs First Senior Financial Group is that he never takes a dime from the seniors who come to him to be educated. Everything he teaches and everything he offers comes free of charge. That is the true mark of a consumer advocate, someone who cares enough to help you without asking for anything in return.
http://www.philcannellaiii.com/