Secure Your Retirement
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Оглавление
Брюс Кэмерон. Secure Your Retirement
Contents
Acknowledgements
1. How to Avoid Your Point of Ruin
WHAT PENSIONERS MUST DO
Solutions
THE PRE-COVID-19 PANDEMIC SITUATION
Longevity
Some good news
2. The Dichotomy of Choosing a Pension
RETIREMENT OBJECTIVES AND COSTS. 1. An adequate initial income
2. Inflation protected
3. Income lasts for life
4. Flexibility
5. Leave to an estate (beneficiaries)
6. Costs
3. A Helping Hand to Retirement Success
WAYS TO IMPROVE YOUR PENSION
Hybrid pensions
The guaranteed annuity choice
An enhanced (impaired) annuity
Transfers between annuities
DEFAULT BACKGROUND
Retirement benefit counselling
A NEW DRAFT FOR LIVING-ANNUITY STANDARDS
DRAFT STANDARDS ON SMOOTHED-BONUS ANNUITIES
TREATING CUSTOMERS FAIRLY
FOREIGN INVESTMENTS
4. Planning for the Years Ahead
PREPARING FOR THE FUTURE
Reasons to avoid retirement
How to improve your finances post-retirement
5. Savings
WHY PENSIONER INFLATION IS HIGH
A SIDECAR SAVINGS SCHEME
HOW TO IMPROVE YOUR EMERGENCY FUND
6. Retirement Is Tougher on Women
THE IMPROVING POSITION OF WOMEN
THE DIFFICULTIES FOR WOMEN IN RETIREMENT
How women can improve their retirement
7. The Killer: Medical Care in Retirement
FINANCIAL THREATS TO PENSIONERS
Contributions and claims
Inflation
8. Dementia
SCAMS
THE CATCH-22 OF DEMENTIA
SAFEGUARDING YOUR FINANCES
A living will
9. Preparing for Crises
Abbreviations
Bibliography
Index
About the authors
By the same authors
Отрывок из книги
Acknowledgements
1. How to Avoid Your Point of Ruin
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If you want to live free of the point of ruin, you need to reduce your odds of running out of money. Your target should be to hit the 10 percent chance of living to 90 rather than assuming you will be part of the 50 percent average. This means that males must look ahead to reaching age 90 and females to 100, resulting in a planning horizon of 35 to 40 years.
Assuming an initial investment return on the average of 50 percent, only females with a drawdown rate of 3.44 percent (at most) can expect to be virtually free of their point of ruin; and only males with a drawdown rate of 4.22 percent (at most) can be more or less sure of their income until death. Any higher initial drawdown will lead to ruin.
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