Phil Cannella has spent his career teaching everyday Americans that in retirement, you don’t want to take chances. You don’t want volatility, you want stability. You want guarantees and peace of mind. That’s why Phil Cannella, the creator of the exclusive Crash Proof Retirement System, and Joann Small, the CEO of First Senior Financial Group-(home of the proprietary Crash Proof Retirement System) like to point out that the choice is simple—avoid risk investments, and the industry that houses them, like the plague in your retirement years.
“The Crash Proof Retirement System does not utilize securities.” – Phil Cannella.
The economic turbulence has gotten worse since the deregulation of the Glass-Steagall Act in 1998. A 43% market drop in 2002 was followed by a drop of 57% in 2008-2009. So when stocks begin to retreat from their current record highs, how bad will the next downturn be? When that happens, people in retirement will be longing for stability and safety that only the Crash Proof Retirement System can offer.
“You can make your retirement future out of straw, sticks or bricks,” Cannella explains. “When you see the way the insurance industry operates, as compared to the everyday corporation on Wall Street—there is a drastic difference.”
And that’s why it’s known as the brick-house industry, because insurance companies are not going to be washed away like a sandcastle built along the beach. For almost 300 years, insurance companies have withstood financial calamities from the American Revolution to the Great Depression and most recently, the Great Recession caused by the housing bubble. The difference lies in a concept known as ‘receivership.’ Receivership is the alternative to bankruptcy, a condition in which life insurance institutions enter into an agreement where if one institution were unable to continue its business, the remaining organizations work together to assume the liabilities and responsibilities of the affected company.