“There hasn’t been a life insurance institution since 1780 that ever went into bankruptcy and no one’s ever lost a penny of their principal”
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.
Listen to ILAB 44 on iTunes here or subscribe on your favorite podcast app.
ILAB 44 Show Notes
Video of SEC Interview – Playlist:
Audio file of Jim Cramer:
ArtofFX – start with just a $10,000 account (reduced from $25,000)
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
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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