Retirement income for life : getting more without saving more
Canada's most trusted resource on retirement income, updated for tumultuous times. As the global economy faces uncertainty in the face of high inflation -- at levels seen only twice before in this century -- and the specter of recession looms, individuals in retirement or near to it are understandably anxious about living well long-term. Canadians need the tools to make better-informed choices to turn their retirement savings into retirement income for life. This revised and updated edition: -- Explains how higher interest rates and higher inflation present both new opportunities and challenges to retirees -- Illustrates how the expansion of the CPP (which started in 2019) will affect upcoming retirees -- Examines the impact of inflation on the deferral of CPP and OAS pensions -- Explores whether level-income annuities are still relevant and asks whether there are better products on the market -- Provides a revamped retirement calculator. Actuary Frederick Vettese demystifies a complex and often frightening subject and provides practical, actionable advice. 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-- has become an urgent matter that no one can afford to ignore.
Other Formats
Browse Related Items
Subject |
Retirement income > Canada > Planning. Retirement > Canada > Planning. Finance, Personal > Canada. |
- ISBN: 9781770417175 (pbk.)
- Physical Description xiv, 247 pages : color charts ; 23 cm
- Edition Third edition.
- Copyright ©2023.
Content descriptions
Bibliography, etc. Note: | Includes bibliographical references and index. |
Additional Information
Table of Contents
Retirement Income for Life : Getting More Without Saving More (Third Edition)
Section | Section Description | Page Number |
---|---|---|
Preface | xi | |
Introduction | xiii | |
Part I | Identifying The Decumulation Problem | 1 |
Chapter 1 | Who Should Read This Book? | 3 |
Chapter 2 | The Thompsons Are Ready to Retire | 6 |
Chapter 3 | Trouble Looms | 14 |
Chapter 4 | Coping with Spending Shocks | 18 |
Chapter 5 | Improving on the 4-Percent Rule | 25 |
Chapter 6 | Withdrawal Strategies to Avoid | 36 |
Chapter 7 | Investment Risk | 43 |
Chapter 8 | What if You See a Black Swan? | 57 |
Chapter 9 | Where the Thompsons Stand | 64 |
Chapter 10 | Understanding CPP and OAS | 69 |
Part II | A Five-Part Solution | 81 |
Chapter 11 | Enhancement 1: Reducing Fees | 83 |
Chapter 12 | Enhancement 2: Transfer Risk to the Government | 91 |
Chapter 13 | Why So Few People Defer Their CPP Pension | 96 |
Chapter 14 | Enhancement 3: Transfer Even More Risk | 106 |
Chapter 15 | Enhancement 4: Using PERC | 112 |
Chapter 16 | Can We Do Even Better? | 124 |
Chapter 17 | Optimizing the Enhancements | 130 |
Chapter 18 | Enhancement 5: Have a Backstop | 133 |
Part III | Exploring Other Situations | 141 |
Chapter 19 | What if One Spouse Dies Young? | 143 |
Chapter 20 | How Early Retirement Changes Everything | 149 |
Chapter 21 | Not Yet Ready to Retire? | 157 |
Chapter 22 | High-Net-Worth Couples | 161 |
Chapter 23 | Retiring Single | 167 |
Part IV | Tying Up Loose Ends | 173 |
Chapter 24 | Tax Considerations | 175 |
Chapter 25 | When Real Estate Is Part of Your Portfolio | 180 |
Chapter 26 | What if Inflation Stays High? | 184 |
Chapter 27 | What if Your Investment Returns Are Good? | 187 |
Chapter 28 | Super-Savers and YOLOs | 190 |
Chapter 29 | Where Do Bequests Fit In? | 196 |
Part V | Making It Happen | 201 |
Chapter 30 | Lingering Doubts? | 203 |
Chapter 31 | Making the Strategy a Reality | 207 |
Chapter 32 | A Message for Employers | 214 |
Appendices | ||
Appendix A | Summary of Takeaways | 219 |
Appendix B | Summary of LIFs and RRIFs | 226 |
Appendix C | Assumptions Underlying PERC | 235 |
Acknowledgements | 237 | |
Index | 239 |