Book description
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.
MOSHE A. MILESKY, Ph. D., is an author, researcher
and professor at York University in Toronto, Canada.
ALEXANDRA C. MACQUEEN is a Certified Financial Planner
professional who works as a project manager at The QWeMA Group in
Toronto, Canada.
