How much do I need to save for a comfortable retirement? It’s the million dollar question – maybe even a bit more. It depends on a number of factors, making it all the more overwhelming for individuals to tackle retirement saving. We speak to author Fred Vettese (former chief actuary at Morneau Shepell) who has researched and written about what people can do. And later on the show, we discuss getting serious and building your financial base for a good Life Two.
00:00 | Opening
01:30 | Intro to Fred Vettese: his background
04:30 | How much do you need to save for retirement?
07:50 | How do you know if you’re on track?
12:00 | The ant and the grasshopper
16:30 | Learn the basics about investment
19:20 | The balance between individual responsibility and paternalism
24:20 | Staying on track: calculators, misleading commentary
28:50 | Efficiency: how to get more bang for your savings buck
35:40 | Annuities and life expectancy
40:20 | Fred’s own experience of retirement
47:00 | Focus on the individual’s quality of life
58:20 | Don’s personal touch: Some of your current expenditures will stop before you retire; three phases of post-retirement spending; the minimum standard, success and the gold standard in this “get serious” stage
1:06:35 | End
To purchase Don Ezra’s book, visit donezra.com.