COVER STORY
Retirement Income The Right Way
Dynamic Funds Chief Retirement Income Strategist Daryl Diamond examines opportunities in The Big Shift in the retirement space and shares the Paycheque Portfolio™ approach, a retirement income strategy he’s successfully used for more than a decade in his retirement income planning practice.
1 IN 4
The Big Shift
For Dynamic, the big shift means taking the subject of retirement income and focusing on the cash flow to be delivered at the time someone retires, as opposed to the current focus, which is primarily on what's the value of your account. That's The Big Shift we see. With an income focus, we can deliver consistent cash flow – in bull and bear markets alike.
Building a Bridge to Retirement
When it comes to retirement planning, there's still a focus for a lot of advisors on either the accumulation side or the estate-planning side. The part between the two, which I call the bridge, represents a wide-open market. There's so much money in motion and moving between advisors and institutions as clients transition from the accumulation phase to retirement.
The Paycheque Portfolio™ Approach
The Paycheque Portfolio approach, also known as a target-distribution strategy, is simply an investment that allows for a regular monthly distribution to be paid to the client. And here's the most important part: it delivers that income without having to collapse any units to get that income. We're not selling anything.
A Retirement Strategy That Clients Can Understand
Having worked with retirees for 35 years, I can say unequivocally that they're not interested in complicated and glitzy. They're interested in comfortable, understandable, and most of all, something that works. It's a strategy you can discuss with prospective clients in the current market environment to help them be far more comfortable with how their income is being delivered. We love it because clients love it, they understand it, and, by gosh, it works.
Meeting Today’s Retirement Income Challenges Head On
As a thought leader in the retirement income space, Dynamic Funds is proud to announce the appointment of Daryl Diamond as its Chief Retirement Income Strategist.
Daryl has become one of Canada’s most respected retirement income strategists through his focus on helping retirees build reliable and sustainable income streams during retirement. An experienced retirement planner, author and former advisor, Daryl is a well-known authority on retirement income and has spent the better part of his career helping retirees build the sustainable income they need to adequately fund their desired retirement lifestyle.
Of his 44 years in financial services, Daryl has dedicated the last 30-plus years to the specialized field of retirement income planning. Daryl is the author of the Canadian bestseller, “Your Retirement Income Blueprint,” and his latest book, “Retirement for the Record.”
According to a 2019 report, the Canadian retirement gap – the number of years that seniors might outlive their money – is now 10 years for men and 13 for women. With Baby Boomers retiring in ever-increasing numbers, the coming retirement boom could be a retirement bust if Canadians don’t adjust to the new retirement reality.
A leader in the retirement income space, Dynamic Funds created the Retirement Income Centre to provide a road map to retirement insights, investing strategies and new perspectives on helping retirees (and those on the cusp) create sustainable cash flow to meet today's retirement realities head on.
“Daryl's joined our firm to work closely with Dynamic’s team — and advisors across Canada — to help shape perspectives on designing sustainable cash-flow portfolios for retirees. I've watched what he's done for clients. I've watched what he's done for our industry, and I'm incredibly thrilled that he's here to help advisors meet the retirement income opportunity head on.”
— Mark Brisley, Head of Dynamic Funds