Fred Vettese & Bill Morneau 
The Real Retirement [PDF ebook] 
Why You Could Be Better Off Than You Think, and How to Make That Happen

Preface xi
Chapter 1: Crisis? What Crisis? 1
Chapter 2: Understanding the Foundation–Pensions 13
Chapter 3: Understanding the Foundation–Health Care 31
Chapter 4: Our Best Days are Behind Us 43
Chapter 5: When Can We Retire? 55
Chapter 6: How Workers Will Respond 65
Chapter 7: Deciding When to Retire 75
Chapter 8: The Three Phases of Retirement 85
Chapter 9: We are Better Prepared than We Thought 93
Chapter 10: Your Retirement Income Target–Why You Don’t Need 70 Per Cent 103
Chapter 11: The Neutral Retirement Income Target 115
Chapter 12: Arriving at Your Own Retirement Income Target 127
Chapter 13: Investment Basics 135
Chapter 14: Managing Your Portfolio 153
Chapter 15: Your Expected Return 165
Chapter 16: Choosing Your Savings Vehicle 173
Chapter 17: Should You Buy an Annuity? 185
Chapter 18: When You Can No Longer Cope on Your Own 193
Chapter 19: Tackling the Big Unknowns 201
Chapter 20: Ending on an Optimistic Note 211
Appendix A: Pillar 1 and Pillar 2 Benefits 219
Appendix B: Income by Source 223
Appendix C: NRIT Charts 225
Appendix D: A Guide to Retirement Programs in Canada 231
Glossary 241
Endnotes 253
Acknowledgements 257
About the Authors 259
Index 261

Fred Vettese has been Chief Actuary of Morneau Shepell for the past 21 years; has over 30 years of experience with national actuarial consulting firms; and is editor of, and primary contributor to, Morneau Shepell’s newsletter, Vision. He has written op-eds for the National Post and Globe and Mail and is frequently quoted in both newspapers. He has appeared on various radio programs including CBC’s The Current. He has written many pension articles for other journals, speaks regularly at national conferences such as the Conference Board of Canada, and is a member of the C.D. Howe Pension Policy Board.
Bill Morneau is Executive Chairman of Morneau Shepell. Under his leadership, the firm has grown from 150 to 2, 500 employees. He is actively engaged with clients across the entire spectrum of Canadian business and government in their pension and benefit management. He sits on, and is chair of, several boards, including St. Michael’s Hospital in Toronto, the C.D. Howe Institute, AGF Management Ltd. and AGF Trust Company. He holds a B.A. from the University of Western Ontario, an M.Sc. (Econ.) from the London School of Economics, and an M.B.A. from INSEAD in Fontainebleau, France.