Description
Publish Date: Oct. 20 2020
Pages: 240
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<p><b>Canada’s #1 bestselling retirement income book is now completely revised and updated. Vettese will show you how to mitigate risk and secure your financial future in these unpredictable times.</b></p>_x000D_
<p>As COVID-19 rocks the economy in an unprecedented black swan event, retirees and those who are preparing to retire need answers to pressing questions about their financial futures. Originally published in 2018, the second edition of <i>Retirement Income for Life</i>, has been completely revised and updated, and now includes:</p>_x000D_
<ul>_x000D_
<li>New chapters on early retirement, retiring single, what to do when one spouse dies young, and more.</li>_x000D_
<li>Three strategies for mitigating your personal financial risk in the current downturn in equities and other investment products.</li>_x000D_
<li>Advice on how to plan for (and even benefit from) a possible bear market, resulting from COVID-19, which could create unprecedented equity buying opportunities.</li>_x000D_
<li>Information on the impact of unbearably low interest rates on annuities and fixed income investments and what to do if you hold them.</li>_x000D_
<li>The reasons retirees should be deferring CPP until age 70 and why the case for this is stronger than ever.</li>_x000D_
</ul>_x000D_
<p>Author Frederick Vettese demystifies a complex and often frightening subject and provides practical, actionable advice based on five enhancements the reader can make to mitigate risk and secure their financial future. With over one thousand Canadians turning 65 every day, the cultivation of good decumulation practices — the way in which you draw down assets in retirement, ideally to have a secure income for the rest of your life — has become an urgent matter that no one can afford to ignore.</p>_x000D_
, _x000D_
Drawing down one’s savings in retirement is something very few retirees do well. They often outlive their money, systematically underspend for fear of outliving their money, or employ inefficient and wasteful drawdown strategies. <i>Retirement Income for Life</i> provides five enhancements that will greatly improve the odds of your retiring well._x000D_
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<ul><br>_x000D_
<li>List of Tables and Figures </li><br>_x000D_
<li>Preface</li><br>_x000D_
<li>Introduction</li><br>_x000D_
<li>Part I: Identifying the Decumulation Problem<br>_x000D_
<ul><br>_x000D_
<li>1: Who Should Read This Book?</li><br>_x000D_
<li>2: The Thompsons Are Ready to Retire</li><br>_x000D_
<li>3: The Thompsons Face Financial Ruin</li><br>_x000D_
<li>4: Coping with Spending Shocks</li><br>_x000D_
<li>5: Improving on the 4-Percent Rule </li><br>_x000D_
<li>6: Withdrawal Strategies to Avoid</li><br>_x000D_
<li>7: Investment Risk</li><br>_x000D_
<li>8: What if You See a Black Swan?</li><br>_x000D_
<li>9: Where the Thompsons Stand</li><br>_x000D_
</ul><br>_x000D_
</li><br>_x000D_
<li>Part II: A Five-Part Solution<br>_x000D_
<ul><br>_x000D_
<li>10: Enhancement 1: Reducing Fees</li><br>_x000D_
<li>11: Enhancement 2: Transfer Risk to the Government</li><br>_x000D_
<li>12: Why So Few People Defer Their CPP Pension</li><br>_x000D_
<li>13: Enhancement 3: Transfer Even More Risk</li><br>_x000D_
<li>14: Progress Report</li><br>_x000D_
<li>15: Enhancement 4: Knowing How Much Income to Draw</li><br>_x000D_
<li>16: Enhancement 5: Have a Backstop</li><br>_x000D_
</ul><br>_x000D_
</li><br>_x000D_
<li>Part III: Exploring Other Situations<br>_x000D_
<ul><br>_x000D_
<li>17: What if You Die Early On?</li><br>_x000D_
<li>18: Super-Savers and YOLOs </li><br>_x000D_
<li>19: How Early Retirement Changes Everything </li><br>_x000D_
<li>20: Not Yet Ready to Retire?</li><br>_x000D_
<li>21: Complex Situations</li><br>_x000D_
<li>22: High-Net-Worth Couples</li><br>_x000D_
<li>23: Tax-Sheltered vs. After-Tax Assets </li><br>_x000D_
<li>24: Retiring Single</li><br>_x000D_
<li>25: Where Do Bequests Fit In?</li><br>_x000D_
</ul><br>_x000D_
</li><br>_x000D_
<li>Part IV: Making It Happen<br>_x000D_
<ul><br>_x000D_
<li>26: Lingering Doubts?</li><br>_x000D_
<li>27: Making the Strategy a Reality</li><br>_x000D_
<li>28: A Message for Employers</li><br>_x000D_
</ul><br>_x000D_
</li><br>_x000D_
<li>Appendices <br>_x000D_
<ul><br>_x000D_
<li>Appendix A: Summary of Takeaways</li><br>_x000D_
<li>Appendix B: Summary of LIFs and RRIFs</li><br>_x000D_
<li>Appendix C: Details on Using PERC </li><br>_x000D_
<li>Appendix D: Quirky CPP Rules You Should Know About</li><br>_x000D_
<li>Appendix E: Why the Income Target Is Not 70 Percent</li><br>_x000D_
</ul><br>_x000D_
</li><br>_x000D_
<li>Acknowledgements</li><br>_x000D_
</ul>_x000D_
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<p>“Destined to become the bible of any new or near retiree.” — moneysense.ca on <i>Retirement Income for Life</i>, first edition</p>_x000D_
<p>“I’m on the record saying that every Canadian retiree and soon-to-be retiree should read <i>Retirement Income for Life</i> by Fred Vettese. It offers five clear strategies for making the most of your accumulated savings and turning it into predictable, sustainable retirement income.” — Boomer & Echo on <i>Retirement Income for Life</i>, first edition</p>_x000D_
<p>“Must-read book for Canadians who are in retirement or who are preparing for retirement.” — Cut the Crap Investing on <i>Retirement Income for Life</i>, first edition</p>_x000D_
<p>“A great resource for Canadians who see retirement on the horizon and are beginning to wonder whether it is to be embraced or feared.” — PWL Capital on <i>Retirement Income for Life</i>, first edition</p>_x000D_
<p>“Retirement Income For Life is essential reading for any self-directed investor who is either planning for retirement within the next five years or already in it.” — Dividend Strategy</p>_x000D_
<p>“Retirement Income for Life was very well written, simple and easy to understand in addition to providing new insights.” — Gen Y Money</p>_x000D_
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<b>Frederick Vettese</b> is Canada’s most visible actuary. His entire career has been focused on working within Canada’s retirement income system. For 27 years, he was chief actuary of Morneau Shepell, a Canadian HR services firm with 6,000 employees and 24,000 clients. Frederick now spends most of his professional time speaking and writing about retirement issues. He has written over 100 articles and op-eds for the <i>Globe and Mail</i> and the <i>National Post</i> alone. He also has two other retirement books to his credit._x000D_
, _x000D_
<p>“Fred Vettese is the king of can-do retirement planning. Practical, clear advice from someone who knows what you’re up against and has the answers.” — Rob Carrick, <i>The Globe and Mail</i></p>_x000D_
<p>“Planning for how best to draw down your nest egg — the ‘decumulation’ phase — is a part of retirement planning that often gets neglected. The second edition of Fred Vettese’s book focuses on this topic and is an important addition to the retirement finance literature. I recommend taking a close look at what Fred has to say about what he terms financial ‘enhancements,’ including: reducing investment fees, deferring government pensions, annuities, and reverse mortgages.” <b>— </b>David Aston, contributing columnist with the <i>Toronto Star </i>and author of <i>The Sleep-Easy Retirement Guide</i></p>_x000D_
<p>Canada’s #1 bestselling retirement income book is now completely revised and updated. With over one thousand Canadians turning 65 every day, the cultivation of good decumulation practices — the way in which you draw down assets in retirement, ideally to have a secure income for the rest of your life — has become an urgent matter that no one can afford to ignore. As COVID-19 rocks the economy in an unprecedented black</p>_x000D_
<p>swan event, retirees and those who are preparing to retire need answers to pressing questions about their financial futures. Frederick Vettese demystifies a complex and often frightening subject and provides practical, actionable advice based on five enhancements the reader can make to mitigate risk and secure their financial future.</p>_x000D_
<p><i>Retirement Income for Life, Second Edition</i> includes:</p>_x000D_
<ul>_x000D_
<li>New chapters on early retirement, retiring single, what to do when one spouse dies young, and more.</li>_x000D_
<li>Ideas for coping with black swan events, like the recent pandemic, that may affect your retirement income.</li>_x000D_
<li>The reasons retirees should be deferring CPP until age 70 and why the case for this is stronger than ever.</li>_x000D_
</ul>_x000D_
, CA
