Planning for Retirement - Unconventionally!
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Getting to know Fred Vettese
Frederick Vettese (born 1953) served as the chief actuary of Morneau Shepell until 2018 and is author of several books exploring Canada's retirement system.[1]
Vettese is the author of The Essential Retirement Guide: A Contrarian's Perspective[2] and has co-authored The Real Retirement: Why You Could Be Better Off Than You Think, and How to Make That Happen with Bill Morneau.[3][4] In 2018, he published his third book, Retirement income For Life: Getting More without Saving More,[5] with a second edition published in 2020.[6]
He is a regular contributor to Canadian publications such as the Globe and Mail and the National Post and has appeared in several video interviews to discuss Canadian retirement strategies.[7][8][9][10]
Vettese is a Fellow of the Canadian Institute of Actuaries (FCIA).
Source: Wikipedia
Questions Asked:
2:20 Why are there so few books about drawing down decumulation assets in retirement when it is such an important skill?
3:10 Psychologically, retirees do not really like to see their income going down year after year when drawing down. How do we get around this mindset?
5:15 One of your tips is to keep fees low, particularly investment fees. Can you explain why you feel this way?
6:30 You’re not telling them to become Do It Yourself investors to reduce fees. But you do talk about Robo-Advisors as being a good choice for retirees.
7:41 You talk about deferring the Canada Pension Plan to age 70. Why are Canadians so reluctant to do this?
10:15 Another product that Canadians are not that fond of are life annuities.
13:00 You also talk about reverse mortgages in your book. At what point are reverse mortgages appropriate? How do reverse mortgages compare to a Home Equity Line Of Credit or HELOC?
15:05 What led to the revision of your book since it’s only two years old?
17:42 Let’s touch on Covid and what do you do when you have a black swan event?
19:50 I noticed that when you talk about investment you returns, you focus on people with low investment returns.
21:00 Tell us more about your free calculator on your website.
24:00 How are you finding retirement?
27:05 In your earlier book, The Essential Retirement Guide, you point out that pretty much everyone who is retired usually spends less once they reach the age of 70 and 75.
29:40 Have you found that these retirement points that you emphasize are being talked about or written about or is it still a more traditional view of retirement?
30:50 I like your book because you have explanatory boxes and take-aways in every chapter. What are your key take-aways for this podcast episode?
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