arrow16 Comments
  1. larry macdonald
    Sep 28 - 1:46 am

    I also enjoyed reading the book and did a review (http://blog.canadianbusiness.com/book-review-pensionize-your-nest-egg/). A lot of the material comes from Milevsky’s previous books but it’s an easier read. And there are some good, clear explanations of how annuities and GLWBs work in Chapters 6 & 8.

  2. Money Smarts Blog
    Sep 28 - 7:20 am

    I’ll probably be reviewing the book next week – I haven’t had time to start reading it yet.

    I’m looking forward to reading it though!

  3. Canadian Capitalist
    Sep 28 - 9:40 am

    @Larry: I forgot to add the section that linked to other reviews. It’s rectified now. I thought the book was very accessible as well. I had no trouble following it. I haven’t read Milevsky’s earlier works, so a lot of it was very new to me.

    @Money Smarts: Looking forward to your review. And yes, I hear you loud and clear on not having enough time to read books.

  4. AKA
    Sep 28 - 2:11 pm

    I’ve read two of Milevsky’s previous books, “Are you a Stock or a Bond?”, which I highly recommend, and “Your Money Milestone’s”, which I also recommend, even if I don’t agree with all of his recommendations in that one (academically sound though they may be). If this book contains similar material to his earlier books, then I will probably recommend it to my nearing-retirement parents.

  5. Dr Dale Rathgeber
    Sep 28 - 5:20 pm

    Do the authors fully disclose how fee-intensive annuities and GLWBs can be, in contradistinction to less expensive alternatives like stocks, bonds, ETFs, MICs etc?

  6. Alexandra
    Sep 28 - 5:41 pm

    Yes, Dale, there is a chart (I think it is on page 98) which fully discloses the “ongoing costs to pensionize” – in addition to discussion in the book about fees associated with different products and strategies. (However, I should not that cost – and other implementation questions – are *not* the focus of the book.)

  7. CanadianInvestor
    Sep 28 - 6:07 pm

    Hoping to read the book sometime myself, will likely have to buy my own copy, unfortunately!

    1) Are there not two other critical retirement risks that any practical plan must consider – taxes (registered vs unregistered plans, dividends, capital gains, income) and health – both of which can have a large financial impact?

    2) If the book ignores the overhead costs of the solutions, then at best it sets out an ideal approach, which may in practical terms not be close to the best overall trade-off plan. e.g. if reverse mortgages didn’t have such high fees, they might be a very useful product or, if the MERs on mutual funds in Canada were much lower, they would be an attractive investment vehicle.

  8. [...] This post was mentioned on Twitter by Canadian Capitalist, bigcajunman, Alexandra Macqueen, Cameron Passmore, Arjun Rudra and others. Arjun Rudra said: RT @CCapitalist New Blog Post: Book Review: Pensionize Your Nest Egg http://bit.ly/dj16Mo [...]

  9. Canadian Capitalist
    Sep 28 - 9:59 pm

    @AKA: I’ve added both the books to my “to read” list. I’ve heard about them and been meaning to read them. I think this book offers those nearing retirement a lot to think about.

    @Dale: Yes, costs are touched upon briefly in the book. Funny you should mention MICs are “less expensive”. From what I’ve seen MICs are not what I’d call less expensive products.

    @CanadianInvestor: I would have liked to a discussion on fees as well. IMO, GLWBs are so expensive that it is questionable if retirees should even bother with them. I would have liked to see some discussion on whether GLWBs can be skipped in view of the lack of attractive products.

    http://www.canadianmoneyforum.com/showpost.php?p=33050&postcount=16

  10. [...] Pensionize Your Nest Egg (my review is available here), authors Mose Milevsky and Alexandra Macqueen argue that retirees should diversify their income [...]

  11. Bgilbert
    Oct 01 - 12:48 pm

    Just finished reading it. Excellent! I feel much better about my options at retirement. I also feel I can retire with less than I would have thought. A required read for anyone, close to retirement or not.

  12. [...] Canadian Capitalist blog reviews a new book called Pensionize Your Nest Egg, by Moshe Milevsky and Alexandra Macqueen. It [...]

  13. [...] One of the “silos” is made up of GLWB products which are very expensive.  The book explains that this silo is a hybrid of the other two silos, but I’m not sure why they didn’t just use the two silos of annuities and regular investment products.  Canadian Capitalist had similar thoughts. [...]

  14. [...] One of the “silos” is made up of GLWB products which are very expensive.  The book explains that this silo is a hybrid of the other two silos, but I’m not sure why they didn’t just use the two silos of annuities and regular investment products.  Canadian Capitalist had similar thoughts. [...]

  15. Confused
    Sep 26 - 4:26 pm

    Sounds good.. I have just bought the book…

  16. Cathryn
    Dec 25 - 1:58 pm

    I think that when you look at how everything plays
    out in real plans, that the issue of fees,
    commissions, other extra costs that are not
    always transparent. – These are the real problems
    with financing a retirement.

    The large amount of the income that goes to
    ‘other people’, silent partners like the Federal and
    Provincial Government, and the large sector
    of people working in the Financial Industry
    who must make money off your money.

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