Phil Cannella – Phillip Cannella Blog: Phil Cannella has done a good study of the history of the financial markets in the United States and examined their peaks and their crashes. He sheds some interesting light on the well-known crash of 1929 that brought about the Great Depression.
Phil Cannella very wisely points out, “In 1929, American investors suffered the worst financial crisis in history, bearing witness to a mass economic collapse that decimated their savings. The effects of the crash were cruel and long-lasting. As American economist Richard M. Salsman described the collapse, ‘Anyone who bought stocks in mid-1929, and held onto them, saw most of their adult life pass by before getting back to even.”
These words couldn’t be more true. This scenario isn’t just true of the 1929 crash but has occurred again and again. Phil Cannella asks if someone in their retired years should risk it all, considering they may not live to see their wealth recover. And so it is that Phil Cannella urges Americans to look into financial vehicles that provide shelter from market risk.
You can hear Phil Cannella’s solutions by attending one of his Crash Proof Educational Events and coming through his three-appointment process.