44: Building the Crash Proof Retirement System with Phil Cannella
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 8 March 2017
⏱️ 143 minutes
🧾️ Download transcript
Summary
Phil Cannella is the founder and creator of The Crash Proof Retirement System. The Crash Proof System was born in the ashes of the financial collapse of 2000 and developed to bring consumers a strategy that guarantees preservation of principle while still achieving adequate growth. Phil has been in the insurance industry for a whopping 41 years and got his start and success through endless hard work and hustle, which included nearly a decade of door-to-door sales.
Over the course of his career, he has interviewed some of the top financial and political insiders in the world and seen just about everything on Wall Street. We sit down for a rare and extended interview with Phil to get his take on the world markets, investing, work ethic, and of course retirement planning.
Links:
Website
Facebook
@PhillipCannella
Educational Event Teaser
WPHT Philadelphia
WFTL South Florida
Discussed:
Video of SEC Interview - Playlist
Stan’s Brutally Honest Factual Expertise About Annuities - ILAB 4
Time Stamps:
06:23 - World financial crisis
22:10 - $2.8 billion debt crash
30:10 - Insurance industry
33:40 - Fixed annuities
36:20 - ADHD & dyslexia
41:01 - Publically humiliated
45:04 - Pharmaceutical drugs
48:55 - Recession proof investment
54:10 - Annuity growth
1:00:38 - Insurance companies vs. banks
1:15:20 - Life insurance firewalls
1:18:20 - B++ bonds
1:22:10 - Safety nets
1:25:10 - Guaranteed renewable contract
1:37:10 - How to find success
1:40:30 - Crashproof educational process
1:48:48 - Tax-free legacy
1:54:53 - Demographics for fixed index annuities
2:05:30 - Investing in life insurance
2:10:17 - Are fixed rate annuities right for you?
2:12:00 - Greece’s debt
2:12:50 - Education, research, and network
2:14:00 - Interest rates and fees
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Copyright 2017. All rights reserved. Read our disclaimer here.
Transcript
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| 0:00.0 | Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. Join us each week for exclusive interviews with our network of modern investors, business owners and multi-millionaires to discover new ways to invest our hard-earned cash. Hey, this is Johnny FD and I'm back with Sam Marks. Hey guys. Welcome back to the show. This is going to be an extended episode with Phil Canella. He is the founder and creator of the crash proof retirement system. Johnny, what do you think? So the name itself has a very bold marketing claim. I looked into it a little bit. And what it is's basically an umbrella of fixed rate annuity products, |
| 0:39.3 | which is something that we talked about in episode four with Stan, the annuity man. |
| 0:43.3 | And something that Sam has personally has part of his portfolio, not necessarily fills products, |
| 0:49.1 | but fixed rate annuities, correct? |
| 0:52.2 | Absolutely. And it's one of my favorite investments. |
| 0:54.8 | I've said that time and time again, just simply because the peace of mine and there's |
| 0:59.2 | zero volatility in it. |
| 1:00.5 | So I love them. |
| 1:01.6 | It's something that I sleep very well at night at with. |
| 1:04.3 | And I have pretty close to about 20% of my investable assets in annuity products. |
| 1:10.3 | And Phil's crash-proof system is something that my |
| 1:14.0 | parents actually invested in and are putting a good portion of their retirement in the hands of. |
| 1:19.2 | So this is actually how I met Phil and his team. And this stuff is really interesting to me. |
| 1:24.1 | A lot of times life insurance and annuities, they're not the sexiest thing to talk about, |
| 1:28.5 | but they're designed for a purpose and they're designed for specific types of financial needs. |
| 1:34.8 | And we're definitely going to dive into all this. But I'm going to tell you what, Phil is a hustler. |
| 1:40.2 | He's been in this business for 41 years. He's also a philosopher. And he's just got a wealth of information. So you're not going to want to miss this episode. There's going to be something for everyone. Yeah. And I've actually listened to this episode already. This is one that be recorded last week. So I've had a chance to kind of dive in deep with it. And even if you guys are not interested in retirement right now |
| 2:01.1 | or annuities as a product vehicle, you're going to want to listen to this episode because he goes |
| 2:06.2 | into so much more about the economy and the future trends. I mean, just kind of just pro life |
| 2:11.7 | tips from someone who has been self-made and is successful with business himself. Yeah, I'm looking |
| 2:17.0 | forward to it. Definitely |
| 2:18.1 | stay tuned afterwards. Johnny and I are going to recap the entire episode, talk about |
... |
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