Pensionize your Nest Egg

Pensionize your Nest Egg

How to Use Product Allocation to Create A Guaranteed Income for Life

Book - 2010
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Pensionize Verb . 1. To convert money into income you can't outlive. 2. To create your own personal pension, a monthly income that lasts for the rest of your natural life.

With the subpar performance of the markets, record-high personal debt levels, and shockingly low savings rates, it's clear that many Canadians expecting to retire in the next decade simply don't have a sufficient nest egg to ensure a worry-free retirement. Making matters worse, only about one-third of Canadians currently belong to a formal, or registered, pension plan; and even a large number of that "lucky third" will not retire with a guaranteed pension income.

If you no longer have the time to wait and hope for your traditional investments to pay off, the answer is to "pensionize your nest egg" using the new technique of product allocation set out in this book. Pensionize Your Nest Egg explains how to

Recognize if you really have a pension or just a tax-sheltered savings plan. Become informed about the new risks you and your nest egg face in retirement and why asset allocation, despite its value in the accumulation stage of life, is not sufficient to protect you and your money. Measure your retirement sustainability quotient (RSQ) and your Financial Legacy Value (FLV)-then choose a retirement income plan on the Retirement Income Frontier. Understand how product allocation differs from asset allocation, how to allocate your nest egg across three product silos, and learn about the new financial products that are available to protect against the new risks you face. Follow a seven-step process to close your Pension Income Gap and convert your retirement savings into a secure stream of lifetime income. Whether you do it yourself or work with a financial advisor, Pensionize Your Nest Egg gives you a simple plan to create a guaranteed retirement income-for life.
Publisher: Toronto : Wiley, c2010
ISBN: 9780470680995
0470680997
Branch Call Number: 332.0240140971 Mil 3558ad 1
Characteristics: xiv, 210 p. :,ill
Additional Contributors: Macqueen, Alexandra Carol 1967-

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h
HandyFellow
Sep 27, 2017

Some pretty informative stuff, however, based on current interest rates, and their trajectory of projection into the future, annuities would be a disastrous choice for most early seniors (60-70). 70-80 year olds may see a slight benefit to the strategies suggested, but the concepts would offer a marginal advantage over laddered bonds or laddered GICs in a RRIF structure. For those in the 80 plus crowd, annuities would likely be too little to late.

There are several ETF options for return of capital and a monthly cheque that are much more tax advantaged for a fraction of the cost on an annuity. the ETF XTR comes to mind. Read anything by Gordon Pape to get additional alternative opinions.

d
doucet1
May 29, 2014

Every Canadian from their first paycheque to their last will BENEFIT from the information in this book. Well written for anyone to understand with Canadian facts/figures/data.
Have Highly Recommended & bought a copy for our family since first reading this! Peace of mind solutions for trying to decide what to do with your money, why, and how :)
All the Best everyone!

h
henrym
May 04, 2014

Provides some good advice, like you need to save money in order to have money in the future. Beyond that there are better ways to generate income than Annuities or the other options suggested.

d7657 Sep 12, 2013

Interesting concept particularly for anyone with a Defined Contribution pension plan. Could save you a lot of worry.

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