Pension Strategy for Canadians
This book is like a bad porn movie. I had no idea where he was going at the start of the book, but then it got interesting. And the finish! Well, let’s just say it was worth the wait.
The author I think does himself a bit of a disservice when he titles the book ‘Pension Strategy for Canadians’. I think the book is well suited for any investor who wants a bit of a handle on their finances. It’s also equally relevant to Americans as far as I can tell, there seemed to be little if any Canadian specific content.
The book really talks about how to diversify your investments to earn the best long term rate of return at the lowest risk. The author indicates in the book that most people think they know what a diversified portfolio is, but in reality are wrong. As I’ve been in the insurance business for about two decades and know what a diversified portfolio is I found that a bit of an odd statement. Until I continued reading and realized the author was absolutely correct - I was waaaay off base when I thought I knew what a diversified portfolio was.
The section in the book on standard deviation gave me an ice cream headache, and I already know what standard deviation is and how to calculate it. Nevertheless, that’s the worst thing I could say about the book, and I don’t think his math is material to the appreciation of his message.
The author does ultimately build a credible case for how he suggests you create a properly diversified portfolio. Then at the end of the book he actually pins the solution down to some exact numbers. Fabulous. I expect you could take that part of the book verbatim and apply it to your investments.
In summary this is a great easy to read book that anyone who invests more than $10 should pick up and read.
Title: The Pension Strategy For Canadians, by Andrew Springett, CFP. ISBN 1-894663-73-X
Rating: 3.5 Stars out of 5.
Who should buy this book? I strongly recommend this book to anyone who invests.
Buy this book (Canada)