At $499, the course does characterize a significant funding, however the outlay may very well be thought of a discount if it helps some DIY retirees escape the clutches of conflicting securities salespersons who really do care extra about their very own retirement than that of their purchasers.
Contemplate a number 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 steering on taking cash out of our financial savings with out depleting our sources as soon as we depart work—and I think this interactive multimedia strategy to studying shall be much more attention-grabbing and memorable than merely studying a guide. Kyle has carried out his analysis and supplies 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.”
Price-only monetary planner and monetary columnist Jason Heath (of Goal Monetary Companions) says “Kyle’s course is a good 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 method that is sensible. The strategy of the course is supposed to show and empower, and it undoubtedly does simply that.”
My evaluation of Fear-Free Retirement
So, let’s take a better take a look at the course, which I dipped into in just a few weeks as a way to write this evaluation. 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 a lot to digest.
The primary unit takes you thru how a lot cash you’ll most likely have to retire in Canada. Subsequent items are dedicated to the main authorities packages just like the Canada Pension Plan (CPP) and Outdated Age Safety (OAS), and employer-sponsored pension plans, together with each outlined profit and outlined contribution plans.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 a great place to begin for guest-imating retirement earnings).
I’m significantly a fan of unit six, titled “Working for a Playtest,” as that time period was coined by Michael Drak and myself in our collectively authored 2014 guide, Victory Lap Retirement. Items seven and eight go into some depth in investing: what to spend money on and tips on how to purchase and promote securities.
Items 9 and 10 go into depth on registered retirement financial savings plans (RRSPs) and tax-free financial 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 question, I’ll personally revisit that module on the finish of subsequent 12 months!
Unit 11 examines how one can create your personal pension by way of annuities. Items 12 and 13 take 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 residence fairness line of credit (HELOCs).