Often called a Financial “Rock Star”, Professor Moshe Milevsky, Finance Professor at York University’s Schulich School of Business, has written a new book that might challenge or confirm the assumptions you used in your retirement plan to determine  how long your retirement income will last and how much you can spend every year.

“Many investors are avoiding even modest risk by keeping money in savings accounts and guaranteed investment certificates with returns below the inflation rate. These people rightly assume they’re impervious to stock market declines, but they ignore a problem of equal seriousness. On an after-inflation basis, their returns are negative. And, Prof. Milevsky adds, they’re even more negative after taxes”.

Professor Milevsky also explains that the 70% of current income rule may no longer apply with so many still with a mortgage or with children moving back home or aging parents to look after or to live to age 100. 

There is a lot of good information on the book.  You can find the book in any good bookstore.