“Ask almost any new or would-be retiree about their greatest concern in later life, and the answer is invariably the same: financial security. People want an investment strategy that generates real, sustainable income for what could be decades. Part of the solution might be a financial product that recently celebrated its 360th birthday in complete obscurity. I am referring to a ‘tontine’,” wrote Moshe Milevsky, professor of finance and mathematics at York University, in the Wall Street Journal April 19. “A tontine is a lottery of sorts, which thrived during the Renaissance, but over three centuries accumulated image and legal problems. And yet, I think it is high time to revisit these schemes.” Read full story.
Supreme Court justice’s departure puts pressure on PM
Supreme Court of Canada Justice Morris Fish has announced that he will retire from the top court this spring, putting immediate pressure on Prime Minister Stephen Harper to restore the balance of female judges on the Supreme Court bench to four….James Stribopoulos, associate dean of law at York University’s Osgoode Hall Law School, said that Justice Fish epitomized the best qualities of a judge. “He has many strengths as a jurist – a clear and pithy writing style, a razor-sharp intellect, a fidelity to logic and principle,” said Stribopoulos in The Globe and Mail April 22. “Most of all, however, is his humanity.” Read full story.
Mom’s stress guide: toddlers and preschoolers
The toddler and preschool years are a period of tremendous change. You may feel both excited and amazed by all the things your child is learning to do and stressed and exhausted by the ever-changing nature of the job description of “mom”. “Just when you think you’ve got everything figured out, your child walks into a new stage – literally,” said Andrea O’Reilly, founding president and director of the Association for Research on Mothering at York University, in Canadian Living April 22. Read full story.
What advisors don’t know about variable annuities: Market conditions and VAs
York University Professor Moshe Milevsky recently wrote an article for Research magazine in which he posits that “if you own a [Guaranteed Living Benefit] that is too good to last, then you should actually turn on the income as soon as possible.” The math of it gets a little too complicated to go into right here, but Milevsky makes a compelling case, reported AdvisorOne April 22. Read full story.
Signpost: Mohawk students rebuilding Hamilton
York University Professor Stephen Gaetz will speak about reframing the way communities respond to issues of housing insecurity and homelessness, particularly among youth, on Wednesday, April 24 from 2 to 4pm, at 21 Rosedene Ave. in Hamilton, reported the Hamilton Spectator April 22. Read full story.