Your Retirement Income Blueprint: A Six-Step Plan to Design and Build a Secure Retirement by Daryl DiamondYour Retirement Income Blueprint: A Six-Step Plan to Design and Build a Secure Retirement by Daryl Diamond

Your Retirement Income Blueprint: A Six-Step Plan to Design and Build a Secure Retirement

byDaryl Diamond

Paperback | April 19, 2011

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As more and more Canadian boomers are approaching retirement, the transition from accumulating assets in their working years to creating a reliable stream of income in retirement is becoming a top-priority issue for a huge segment of the population. Your Retirement Income Blueprint is an antidote for Canadians who are generally ineptly advised, under-serviced, and over-charged by advisors on planning retirement income. Based on the author's specialized experience in retirement income planning, this book will help readers to work through the many stages of their retirement and adapt their income plans to account for constantly changing health and family issues. The book will help you to:

  • Combine government and personal sources of income most efficiently
  • Determine which assets to use first and which to defer
  • Preserve government benefits and entitlements that are in many cases needlessly wasted or lost
  • Create results that are more survivor- and estate-friendly than traditional approaches
  • Greatly reduce taxes on retirement income and to the aggregate estate.

Your Retirement Income Blueprint  lays out a six-step process for "taking apart" accumulated assets, making the most out of what you have taken a lifetime to save, and creating an income that lasts as long as you do.

Daryl Diamond is a recognized leader in the financial services industry. His practice, Diamond Retirement Planning Ltd., focuses on advising pre-retirement and retirement clients on the income structures, investment strategies, and estate conservation issues that are unique to those groups. He is active in educating advisors and their ...
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Title:Your Retirement Income Blueprint: A Six-Step Plan to Design and Build a Secure RetirementFormat:PaperbackDimensions:256 pages, 8.9 × 5.91 × 0.51 inPublished:April 19, 2011Publisher:WileyLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:1118087526

ISBN - 13:9781118087527

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Reviews

Rated 3 out of 5 by from too complex for the average retiree to implement There are two parts to retirement: the accumulation years where you build up financial assets through contributions and the later, income years where you receive income from the various government, pension and personal sources of income. From the title, this book obviously focuses on the less frequently discussed income years vs. the accumulation years (which tend to be driven by the selling of investment “products” such as mutual funds, GICs, RRSPs etc.). This book is written for Canadians and uses all the familiar Canadian acronyms and taxation terminology. This book is very heavy going particularly in the various tax implications. It’s written by a financial expert who specializes in advising clients on how to structure their various retirement income sources most efficiently from a tax and estate planning perspective. It’s just too technical for the average reader to absorb but it does give potential retirees some idea of what they need to consider and what to discuss with their advisors. This book could have used more baby steps in explaining the various tax terms and concepts to laymen. To me, the subtitle (A Six-Step Plan to Design and Build a Secure Retirement) would indicate this book is a participatory workbook or planner where it actually leads you step-by-step through a process to come up with a plan. Beware: it does NOT do this even though there is a PDF form on the associated website that could theoretically help. After reading this book I have come to one conclusion: The withdrawal of income from the many possible retirement assets in the most effective and tax efficient manner is far too complex to be done by the average person. This is unlike the accumulation years where things like asset allocation within a RRSP are much easier to grasp and could be done by anyone who’s interested. Just find an adviser to help you.
Date published: 2013-01-16
Rated 5 out of 5 by from This is the book I have been looking for! Finally! I have been looking for a book like this for a long time -- and looking for a financial advisor who can provide this kind of direction. Mr. Diamond obviously has a lot of experience in setting up retirement income plans, and all the points he identifies are the type of detail you'd never get from most banks, advisors, etc. who just print out a generic piece and then ask for your money! This book helps me know what questions to ask to find out if an advisor knows what they are talking about and what to expect from a good 'retirement plan.'
Date published: 2012-08-19
Rated 5 out of 5 by from The best book of its kind! This is a really good book about retirement planning! It tells you everything you need to know, whether you want to try to do it yourself or you just want to know if your advisor knows what they are doing! It was understandable and very useful. You can tell that the author is working with actual cases and that insight is valuable. Highly recommended!
Date published: 2012-03-11
Rated 5 out of 5 by from The author knows his stuff. I am a financial advisor and I can honestly say that Daryl is the most knowledgeable person in our profession when it comes to retirement income planning. His ideas and approaches are very practical, and are obviously the result of having been an expert in this area long before most advisors even had a clue that they would need to know this stuff. He has taught us all a lot!
Date published: 2011-08-20
Rated 5 out of 5 by from The best retirement book I have read yet! This is the best book on retirement planning I have read, and I have read many! You can tell that Mr. Diamond is not just a writer, but someone who has had direct experience with clients in real life situations. It's really hard to find an advisor who knows how to put all the pieces together, but obviously, he is one of a very few! The book was not only informative, but a very enjoyable to read, too!
Date published: 2011-08-20
Rated 5 out of 5 by from Fantastic resource! This is such a good book on retirement planning. Not full of complicated, stuffy technical stuff that you had to get through -- although those references were there if you wanted them. Excellent discussion of the emotional drivers that affect us in retirement. I did not fall asleep while reading, rather I kept thinking 'yes! that's true!' about so many of the points that Mr. Diamond was making. Gave me a good overview of what I have to do to put my own plan together. And tips on finding an advisor!
Date published: 2011-06-23

Table of Contents

Preface: The Evolution of a Book and of a Demographic ix

Introduction 1

PART ONE: Considerations in Creating Your Blueprint

Chapter 1: Talking ’Bout My Generation 7

Chapter 2: Key Concepts for an Efficient Blueprint 17

PART TWO: Building Your Income Plan with the Six-Step Plan

Chapter 3: Laying the Foundation for Your Income Plan 31

Chapter 4: Putting Your Money to Work 57

PART THREE: The Building Materials

Chapter 5: Government Sources of Income 91

Chapter 6: Corporate Sources of Income 105

Chapter 7: Personal Sources of Income 131

PART FOUR: Essential Tax Considerations

Chapter 8: It’s Floodin’ Down in Taxes 151

Chapter 9: Tax Planning 163

PART FIVE: Special Tools and Strategies

Chapter 10: With a Little Help from My Friends 177

Chapter 11: Insuring Your Building 201

PART SIX: Concluding Thoughts

Chapter 12: Making This Book Work for You 221

Appendix: Life Income Fund (LIF) Comparison by Province 226

Acknowledgements 231

Index 233