Ray Hoger | Member , ARTA Pension & Financial Wellness Committee

I must lay my prejudice out front : I am a dedicated DIY investor . I ’ m one of those crazy people who reads , understands , and uses balance sheets and other financial statements ; watches business shows ; and subscribes to business websites to help decide where to invest my limited investment dollars .

With almost thirty years as a retirement planning specialist based in Winnipeg with clients across the country , Daryl Diamond is a knowledgeable professional in the field of retirement planning . Diamond has written several books on retirement , including a national bestseller , Your Retirement Income Blueprint . Diamond describes Retirement for the Record as a companion book , covering many of the same topics but with a musical twist . Each of the forty-six chapters begins and ends with babyboomer-based musical trivia , memories , and stories that Diamond skillfully weaves into his financial presentation . It may take you longer to read this 260 page book as you reminisce with Diamond and pause to perhaps watch and listen to the music from your youth using the links provided at the end of each chapter .

The book is divided into seven parts . Each part concludes with a series of liner notes — key take-away points to think about as you soak up some boomer music memories .

Part 1 talks about transitioning into retirement , assumptions , and the universal answer to all retirement questions : “ It depends .”

Part 2 focuses on finding the right advisor . As a DIY investor , I found myself focusing

more on the musical references and selections . The last chapter , “ Be Wary of this Standard and Outdated Advice ” was the first chapter to really catch my attention .

Part 3 looks at taxation considerations while Part 4 looks at the other side of government involvement in our retirement — Canada Pension Plan , Old Age Security , and Tax-Free Savings Accounts .

A key element of Part 5 is how you treat your investments during your retirement , including your rate of withdrawal for retirement income , and the continued safety and the inevitable challenges the economy will present over your potential thirty years of retirement .

In Part 6 , Diamond continues to look at investments but focuses on creating income . There is a different approach during the decumulation years than the accumulation years . Here , Diamond focuses on “ our preferred investment strategy in recent years ” — the target distribution strategy .

Part 7 is dedicated to the emotional aspects of retirement — family dynamics , health , lifestyle choices , and the constant presence of change .

If you love music and want to enhance your knowledge of retirement considerations , give this book a read . If you are a DIY investor , you will enjoy the musical element but probably not find a great deal of new material to incorporate into your decision-making process .

Ray Hoger taught high school Business Education and Career Technology Studies for twenty-five years before moving to elementary grades for his final fourteen years of teaching . He was an ATA Pension – Retirement consultant for nine years . news & views AUTUMN 2021 | 21