My Thoughts on Daryl Diamond's Book: Your Retirement Income Blueprint

After listening to Daryl Diamond on the Business Channel, I had to go find his book "Your Retirement Income Blue Print A Six -Step Plan to Design and Build a Secure Retirement." After much searching I found a copy, actually my wife bought it for me for Father's Day. I began to realize some very important elements are missing in the delivery of service and product that we as Boomers are receiving from the traditional investment advisers.

I contacted Daryl by e-mail, and asked him if we could meet the next time he was back in Ontario to discuss his book. Daryl was more than accommodating. He now spends a great deal of time in Ontario consulting with his increasing client base. He offers financial corporate planning workshops and individual and small group seminars. I did ask him if he would be interested in coming to our region. He said without hesitation he would, if there were individuals or groups who would like to hear his philosophy first hand.

After meeting with him. I was even more convinced that he is a visionary and a pioneer in the area of Boomer Financial Planning. As a educator, I encouraged him to speak with the financial advisers, organizations and associations in order to get the message out.

Daryl hits our demographic financial needs right on the mark. He hits the bulls eye when it comes to identifying our financial needs as Boomers. His book is written in an easy and understandable style and specifically geared to our group.

Historically, financial advisers are in the business of investing our money and they in turn make a living from our deposits. This is called the input model.

Then Daryl comes along and tells the financial community you are going to have to change your financial model and your way of thinking. Advisers will need to be ready and receptive to the Boomers, who now want a blueprint on how to strategically withdraw these same funds ( the output model). This is a paradigm shift.

In my opinion, after talking to many friends of the Boomer generation, the financial community is reluctant to embrace this shift and are stuck on the input model. These professionals make most of their living from the accumulation input model.

Planners will have to learn to embrace this change and focus on creating output financial plans. Will they now be willing and able to do this? How do they make money by returning our money to us?

It is contradictory to the intake profit model. They will have to be willing to be trained by people such as Daryl Diamond to know how to effectively deliver an output model in the most tax efficient manner.

In Daryl's book, "the objective is to help you to intelligently disassemble what you have taken a lifetime to accumulate."

I am certainly not questioning the integrity and honesty of the financial services industry, but I am challenging their ability and willingness to deliver a comprehensive output model.

I understand I was not the only one asking the same questions and not receiving the answers. I was looking for answers that are confirmed in Daryl's book.

After reading Daryl Diamond's book, I am now demanding an output strategy from my financial adviser.

That is the dilemma I face; finding a service provider in the financial business industry who is an expert in organizing the systematic withdrawal of my funds as in the book, "Your Retirement Income Blueprint A Six- Step Plan to Design and Build a Secure Retirement," by Daryl Diamond.

This book is a wake up call to our generation. Read this book! Go back to your adviser and ask the questions you have the right to ask.

John Cammarata is a retired teacher living in Waterloo, Ontario

Email Daryl Diamond

Visit Daryl Diamond's website by selecting the address in "Related Links" below.

About Daryl Diamond

CFP, CLU, Ch.F.C.

Income Structuring

When people are transitioning from the 'accumulation years' to the 'income years,' it is a time when they need help from qualified advisor more than at any other time in their life.

Daryl Diamond is a Winnipeg-based author, educator and advisor on the subject of using our assets to realize the greatest amount of security and satisfaction during the retirement years. He is well-known among his peers as one of the first financial advisors in Canada to identify the special skills and knowledge required to turn accumulated assets into income and lifestyle as individuals and couples progress through the stages of retirement.