Title: Smoke and Mirrors - Financial Myths that will Ruin Your Retirement Dreams

Duration: Two Days x Full Day Half Day (9:00am-4:30pm) (9am-12pm or 1pm-4pm)

Level: Advanced Intermediate x Introductory

Competencies: (please pick all that apply) Assurance Professional and Leadership Skills Finance Strategy and Governance Financial Reporting Taxation - Canada Information Technology Taxation – U.S. Management Accounting x Wealth Management

Description: There is a lot of confusion when it comes to retirement planning. How much will a family need to retire comfortably? Are RRSPs the best answer? Can the stock market be trusted?

The standard answers from the “experts” include: start an RRSP early and maximize your contributions, use the stock market and mutual funds for the best returns, put faith in a financial adviser. But what if those answers are wrong?

The problem is that much of the common advice is from people with a conflict of interest. Many are simply trying to sell financial products that make them money… at the client’s expense. This course is designed to cut through the sales pitches and get to the simple truth.

TOPICS INCLUDE: The five main retirement myths:  If I had $1,000,000 I could retire. Why less than a million might be sufficient.  RRSPs are the holy grail of retirement. Explore an alternate strategy that is guaranteed, has no-risk, and eliminates fees.  Don’t worry about your investments: You’ll be fine in the long run. Why you may not be making the eight to ten per cent a year they often talk about. What your adviser doesn’t want you to know, and how to calculate your own investment personal rate of return.  We have met the enemy, and he is the tax collector. Why tax shelters may be sabotaging your personal finances when you think they are helping you reduce your taxes.  Secure your financial future: Buy life insurance. Who really needs it, who doesn’t, the perils of whole and universal life and how to get it cheap.  Bonus: Whether to buy or lease your car and how to reduce your mortgage cost.

WHO WILL BENEFIT: Practitioners who need a refresher on advising clients on retirement planning, and anyone who is interested in what they need to do to retire well.

Special Instructions/Notes:  This is a hands-on workshop. Though not mandatory, you are encouraged to bring a laptop to work along during the program on spreadsheets including the “Retirement Optimizer” and the “Personal Rate of Return Calculator” to calculate how much you’ll need to retire and how well your investments have been doing. All spreadsheets are free with the course.  Each attendee will get a copy of the most recent edition of David Trahair’s book Smoke and Mirrors.