Adam, informed and intelligent as ever. You do us DIYers a great service. Here's a suggestion related to that: consider a short series on DIY investing, addressing how it's done, who should and should not do it, etc. I realize that in a certain limited sense, financial planning firms like yours compete with DIY, but almost every DIYer out there, myself included, can benefit by the services -- planning tools and experience, tax and estate planning, and as you say here, decumulation advice, that we often don't have as self-taught investors. I think you'd find an audience for it, as so many self-directed investors in Canada already watch and learn from you.
Agree with the cash wedge/cashflow planning aspect of a plan. One point of that, I don't see mentioned very often is, don't touch your cash wedge when markets are up. So using the 30K example, I may have 60K or 2 years cashflow in a high interest account. If markets are up when I need that first years cashflow, would assume it's better to sell RIF investments that year and leave the wedge alone until a downturn occurs. Agree?
Question for the 6:14 mark: does DIY's definition here extend to having package-stocks like XEQT, VGRO, and the like - or is it limited only to managing one's own stock portfolio like say an old-fashioned stock trader?
Adam, informed and intelligent as ever. You do us DIYers a great service. Here's a suggestion related to that: consider a short series on DIY investing, addressing how it's done, who should and should not do it, etc. I realize that in a certain limited sense, financial planning firms like yours compete with DIY, but almost every DIYer out there, myself included, can benefit by the services -- planning tools and experience, tax and estate planning, and as you say here, decumulation advice, that we often don't have as self-taught investors. I think you'd find an audience for it, as so many self-directed investors in Canada already watch and learn from you.
Agree with the cash wedge/cashflow planning aspect of a plan. One point of that, I don't see mentioned very often is, don't touch your cash wedge when markets are up. So using the 30K example, I may have 60K or 2 years cashflow in a high interest account. If markets are up when I need that first years cashflow, would assume it's better to sell RIF investments that year and leave the wedge alone until a downturn occurs. Agree?
Question for the 6:14 mark: does DIY's definition here extend to having package-stocks like XEQT, VGRO, and the like - or is it limited only to managing one's own stock portfolio like say an old-fashioned stock trader?
Adam, have you any insight or opinion on the potential of Alberta leaving the CPP and most likely outcomes should this occur?
Great question.