Retirement planning advice for people who don’t use an advisor

Asked about the workload, Roberts admits it’s currently a “full-time job. But it’s not work, but a passion.” He left a lucrative advertising career (where he was a writer and creative director) in 2013 to move to Tangerine, but “I always said if I could find someone to pay me to talk about investments all day, I’m there.”

In a regular email update to club members, Roberts explains that “the key concern of Retirement Clubbers is financial security and how to use their portfolio assets in the most efficient and cost-effective manner. That’s why we have a master list of retirement calculators (free and pay-for-service) to test.”

In his introductory blog flagged above, Roberts wrote that many in his audience are self-directed investors. That jibes with Cutthecrapinvesting’s ongoing campaign against high-fee investment funds, in favour of low-cost index funds or ETFs purchased at discount brokerages. While some, like myself, may also use the services of a fee-for-service advisor, many DIY retirees are in effect running their own pension plans. 

In theory, one of those much-written-about all-in-one asset-allocation ETFs can do much of the heavy lifting for such investors. However, in practice, there’s a fair bit of anxiety about markets, the Canadian government’s often-changing rules around TFSAs, RRIFs and other vehicles, what effective asset allocation means, the ongoing Trump trade war and much more. So it makes sense for a community to gather in one place and exchange views with others going through a similar process. 

Learning from the peer group

In addition to monthly Zoom calls and newsletters, Retirement Club also has a secure and private online community space, which Roberts likens to “our private island. It’s where we learn, share and chat.” In-depth retirement content is also present there, as members add their own thoughts on content, create their own posts and tag and converse with other community members. 

Roberts says the long-term goal is to make the community space the meeting hub for self-directed Canadian retirees, ultimately with many thousands of members. “There is strength in numbers as members have the experience of having lived the challenges of retirement life and on the portfolio front. This real-life experience is priceless.” 

Certainly, the Zoom calls cover a lot of ground in just over an hour. Members can chat or post questions to Roberts and Schmidt. There are also breakout sessions where members can pair off and interact. In a Zoom session I attended in May, topics addressed covered annuities, philanthropic giving, sequence risk, the Retirement Risk Zone and defensive stocks (more on those below). There is also interest in unique financial vehicles like the Purpose Longevity Fund.  

All-in-one or balanced asset allocation ETFs are often discussed, whether from BlackRock, BMO, Harvest, Vanguard or other suppliers. Roberts considers “balanced growth” to be the sweet spot for most retirees, but even with the classic 60/40 stocks/bonds mix he prefers to layer on inflation fighters like commodities, real estate investment trusts (REITs) or REIT ETFs, gold and even bitcoin. He’s also a big fan of ETFs that hold a mixture of such inflation hedges, notably Purpose Real Asset Fund (PRA).