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“To be published in Fall 2010 by Wiley Canada”
Pensionize Your Nest Egg:
Use Product Allocation to Create a Guaranteed Income for Life
Three powerful economic clouds have slowly gathered on the horizon,
set to unleash a colossal storm on Canadian Baby Boomers, Gen-Xers, Gen-Yers
— and beyond. |
The first cloud is declining pension coverage: a mere 30% of the Canadian labour force is part of a Defined Benefit (DB) pension, which guarantees a predictable income that can’t be outlived. Fifteen years ago that number was 41% —and it’s anyone’s guess what the number will be 15 years from now.
The second cloud is demographic: traditional guaranteed pensions are disappearing just as the number of Canadians 65-plus has reached an all-time high of 4 million – with the number approaching retirement also at record levels.
The third is financial: the meagre personal savings Canadians have managed to accumulate are nowhere near enough to finance a dignified retirement using conventional investment products. Furthermore, their RRSPs, RRIFs and other retirement accounts have been decimated by the poor performance of traditional mutual funds, abnormal volatility in financial markets and the “curse” of the sequence of investment returns.
Pensionize Your Nest Egg argues that the solution to this three-pronged crisis is not better mutual funds. It’s not better “asset allocation” models and alternative asset classes – the traditional advice to diversify your assets has become suspect. And it’s certainly not more government regulation or intervention in the lives of ordinary Canadians.
Instead, the answer is to “pensionize your nest egg” using the new science of product allocation. This book demonstrates that it isn't the investor with the most money who necessarily has the best retirement nest egg — it’s the investor who owns the right type of investment and insurance products in retirement and properly allocates savings to these products.
Pensionize Your Nest Egg provides a comprehensive, accessible “user manual” to the new science of product allocation for Canadians. It includes everything you need to know to create your own pension plan. Whether you do it yourself or work with a financial advisor, Pensionize Your Nest Egg gives you a step-by-step plan to create a guaranteed retirement income — for life.
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