At $499, the course does characterize a serious funding, however the outlay may very well be thought-about 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.
Take into account a number of the spectacular testimonials. Lengthy-time shopper 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 sources as soon as we depart work—and I believe 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 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.”
Charge-only monetary planner and monetary 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 positively comes throughout within the course. Too many monetary trade individuals do a poor job of conveying monetary subjects in a approach that is sensible. The strategy of the course is supposed to show and empower, and it positively does simply that.”
My evaluate of Fear-Free Retirement
So, let’s take a better take a look at the course, which I dipped into in a number of weeks with a purpose to write this evaluate. 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 recommend 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 must retire in Canada. Subsequent items are dedicated to the foremost authorities packages just like the Canada Pension Plan (CPP) and Outdated Age Safety (OAS), and employer-sponsored pension plans, together with each outlined profit and outlined contribution plans.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% protected withdrawal rule (to which Prevost isn’t married however sees as a superb start line for guest-imating retirement revenue).
I’m significantly keen on unit six, titled “Working for a Playcheck,” as that time period was coined by Michael Drak and myself in our collectively authored 2014 guide, Victory Lap Retirement. Models seven and eight go into some depth in investing: what to spend money on and how one can purchase and promote securities.
Models 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 doubt, I’ll personally revisit that module on the finish of subsequent 12 months!
Unit 11 examines how one can create your individual pension via annuities. Models 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 dwelling fairness line of credit (HELOCs).