In case you’ve been missing Because Money (on hiatus as we plan for Season Three), I just did an interview with Kornel Szrejber on retirement income planning, and we managed to squeeze a few laughs out of what is traditionally a less-than-hilarious topic.
Some of the questions he asked (and I tried to answer without going too far down any one rabbit hole) were:
- How does earning income in retirement affect planning?
- What is “sequence of returns risk” and how can we protect ourselves from it?
- What is an RPP, a LIRA, and LIF, and how are they connected?
- What are “defined benefit plans” vs “defined contribution plans”?
- What numbers do you like to use when forecasting returns for stocks and bonds? What are real vs nominal returns?
- Can you talk about annuities and how they might fit into a retirement income strategy?
Spoiler alert: There was no way I was going to be able to answer every question as deeply as I’d like to.
The episode is live on the Build Wealth Canada website, as well as a list of resources for those who want to dig deeper into sprawling topic.
Sandi Martin
Co-Founder, Financial Planner at Spring Financial Planning
Sandi creates comprehensive financial plans that answer all those niggling questions like: When? Where? And How? - then provides support so that our clients can implement the strategies that will help them achieve success. She is a voracious, passionate reader, and is dedicated to gathering and distributing allllllllllllllllllllllll the information.
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