At $499, the course does signify a significant funding, however the outlay might be thought of a discount 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 purchasers.
Think about a few of 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 steerage on taking cash out of our financial savings with out depleting our assets as soon as we go away work—and I believe this interactive multimedia strategy to studying will probably be way more attention-grabbing and memorable than merely studying a ebook. 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 revenue final so long as we do.”
Payment-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 trainer positively comes throughout within the course. Too many monetary trade individuals do a poor job of conveying monetary matters in a manner that is smart. The strategy of the course is supposed to show and empower, and it positively does simply that.”
My overview 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 in an effort to write this overview. 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 loads to digest.
The primary unit takes you thru how a lot cash you’ll in all probability must retire in Canada. Subsequent items are dedicated to the foremost authorities packages 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% protected withdrawal rule (to which Prevost isn’t married however sees as place to begin for guest-imating retirement revenue).
I’m significantly keen on unit six, titled “Working for a Playexamine,” as that time period was coined by Michael Drak and myself in our collectively authored 2014 ebook, Victory Lap Retirement. Models seven and eight go into some depth in investing: what to put money into and the way to purchase and promote securities.
Models 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 12 months you flip 71) from RRSPs to RRIFs. Little doubt, I’ll personally revisit that module on the finish of subsequent 12 months!
Unit 11 examines how one can create your individual pension by way of annuities. Models 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).