Phil Cannella – Phillip Cannella Blog: Phil Cannella makes a point when he says that one of the unknowns we face as we go into retirement is that we don’t know how long we are going to live. If we only knew how long we would live then we could predict and plan for various eventualities. For example, as Phil Cannella explains, if you know you’ll live to 85 then you can predict how much money you will need between then and now. There is little use looking at the laws of averages to predict as these are just averages over a large sampling. You could live considerably longer or shorter.
This is why Phil Cannella urges us to factor in living longer than the average and to allow that in our financial planning. This is another area where his crash proof retirement system shines. Phil Cannella developed the Crash Proof Retirement method in order to protect the nest egg of a retiree while at the same time letting it grow at conservative rates, all the time enabling one to take needed income out of the vehicles selected if one were to do need to do so.
How well are you protected against living longer than you might expect or longer than the average. This is something Phil Cannella insists we look at.