At $499, the course does characterize a serious funding, however the outlay might be thought of a cut price if it helps some DIY retirees escape the clutches of conflicting securities salespersons who truly do care extra about their very own retirement than that of their shoppers.
Contemplate among the spectacular testimonials. Lengthy-time client advocate and former Toronto Star private finance columnist Ellen Roseman requested Prevost “The place have you ever been all this time?! … Most of us want steering on taking cash out of our financial savings with out depleting our assets as soon as we depart work—and I think this interactive multimedia method to studying can be way more attention-grabbing and memorable than merely studying a e book. Kyle has finished his analysis and gives plain-spoken views about what’s good and what’s dangerous within the course of of creating our retirement earnings final so long as we do.”
Charge-only monetary planner and financial columnist Jason Heath (of Goal Monetary Companions) says “Kyle’s course is a superb useful resource for somebody getting ready for retirement or already retired … His background as a instructor undoubtedly comes throughout within the course. Too many monetary business individuals do a poor job of conveying monetary matters in a manner that is smart. The method of the course is supposed to show and empower, and it undoubtedly does simply that.”
My assessment of Fear-Free Retirement
So, let’s take a better have a look at the course, which I dipped into in a couple of weeks with the intention to write this assessment. It includes 16 items, every beginning with a brief audio-visual overview, adopted by extra in-depth backgrounders, movies and hyperlinks to different content material. I’d counsel specializing in a single unit per session, as there’s lots to digest.
The primary unit takes you thru how a lot cash you’ll most likely must retire in Canada. Subsequent items are dedicated to the foremost authorities applications just like the Canada Pension Plan (CPP) and Old Age Security (OAS), and employer-sponsored pension plans, together with each defined benefit and outlined contribution plans. Later the course additionally tackles that perennial retirement chestnut, the 4% secure withdrawal rule (to which Prevost isn’t married however sees as an excellent place to begin for guest-imating retirement earnings).
I’m significantly keen on unit six, titled “Working for a Playverify,” as that time period was coined by Michael Drak and myself in our collectively authored 2014 e book, Victory Lap Retirement. Items seven and eight go into some depth in investing: what to spend money on and purchase and promote securities.
Items 9 and 10 go into depth on registered retirement savings plans (RRSPs) and tax-free savings accounts (TFSAs), then handles the entire subject of decumulation and the essential transition (on the finish of the yr you flip 71) from RRSPs to RRIFs. Little doubt, I’ll personally revisit that module on the finish of subsequent yr!
Unit 11 examines how one can create your individual pension by means of annuities. Items 12 and 13 have a look at mortgages: whether or not one ought to retire with one (spoiler: one shouldn’t) and deciding between downsizing and reverse mortgages or house fairness line of credit (HELOCs).
