Phillip Cannella News: Phil Cannella Talks About the Many Faces of Risk

Phil Cannella – Phillip Cannella News: Phil Cannella has seen risk in many different ways. In this context I am referring to the different appearances that risk may exhibit and the different ways risk could impact you and your retirement.

Phil Cannella says it like this, “There’s no question that today’s retiree faces financial risk in many forms.  There’s the risk of losing your principal in the stock market and of your accounts accumulating too many taxes and market fees (fees that weigh down your account even when the market is down).  You face longevity risk – will your nest egg last as long as you do?  Will you need a nursing home?  Recent decades remind us of the ever present risk of stock market and corporate corruption as well, as we saw with the fall of Enron and WorldCom.  How about the ultimate risk of losing everything you’ve got because instead of having a trained specialist manage your portfolio, you have a general practitioner, financially speaking, trying to see you through retirement?”

All these risks are ones we need to consider as we progress through life and most especially as we approach retirement. We need to protect ourselves against these types of risk so that we don’t end up getting caught on the wrong side of the risk coin, the downside!