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What Financial Planning Should Look Like with Mark McGrath

The Canadian Investor

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Understanding Pension Plans and Retirement Income Strategies

This chapter explores the nuances of defined benefit and defined contribution pension plans, emphasizing the shift of risk to individuals and the option of using annuities for retirement income. The conversation highlights the significance of public pensions like CPP and the benefits of guaranteed income through tools like annuities in retirement planning. Recommendations for retirement planning books are shared, stressing the importance of creating a reliable income stream to cover fixed expenses.

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