Someone beat me to the punch!

Oct 31, 2014

I can’t believe it; someone beat me to the punch. The book I was planning to write has already been written. I would like to congratulate the author, Daryl Diamond, as he has done an extremely good job. His new book, ‘Your Retirement Income Blueprint’, was recently launched and is now available in your favourite book store.

In his book, Daryl is quick to point out that the vast majority of advisors in the financial services industry remain fixated on serving the needs of those still building their retirement nest eggs. Very few advisors are proficient in helping people successfully transition from their years of earning a pay cheque to the necessity of having to draw down upon their accumulated savings to fund their retirement. Daryl warns of how difficult it is to find advisors who truly understand the art and science of building a secure retirement income stream.

Previous generations relied heavily upon the highly talented and disciplined skills of their corporate pension plan manager. However, with the defined benefit pension plan quickly approaching extinction, Baby Boomers must now look to others to assist in the important tasks of:

  • making the appropriate adjustments to investment decisions during their draw down years;
  • providing an income stream that endures until after the death of the surviving spouse; and
  • safely converting the accumulated savings into an income stream that meets the cash flow needs of a much longer retirement. A retirement that includes a variety of different stages, each with their own unique cash flow challenges.

Like Daryl, we are also recognized as a pioneer in the area of retirement income planning. Our Designing My OK™ planning platform allows you to practically apply the knowledge, wisdom and critical information contained in Daryl’s book to your own personal situation. The three components of the Designing My OK™ software suite: Futures By Design™, Predictable Futures™ and My Personal Pension Plan™ provide real-time learning as you explore and discover how best to:

  • properly combine the right amount of government and personal sources of income;
  • determine which assets should be drawn upon first, and which should be deferred for use in the future;
  • avoid the needless loss of the government retirement benefits you are entitled to;
  • significantly reduce the amount of money unnecessarily lost to taxation;
  • keep you from falling into common retirement ‘Tax Traps’;
  • protect your annual ‘drawdowns’ from the damaging impact of market volatility;
  • ensure the financial needs of the ‘surviving spouse’ are taken care of; and
  • disassemble your accumulated savings in a manner that leaves more of your estate to your loved ones

Most importantly, Designing My OK™ allows you to explore all the possibilities of what your personal version of “OK” might look like. It allows you to stretch the limits as youdiscover what is truly possible. In other words, our planning tools will provide you with a definitive and fully supported answer to the question, Am I going to be OK?

Those who demand this level of retirement income expertise from their financial advisors can anticipate their money lasting much last longer; enabling them to do more, while worrying less.