The Great Retirement Con Game

many water bottles on blue backgroundBy Michael Drak

I don’t like to admit it, but over the years and due to circumstances largely beyond my control, I have turned into a skeptic.

I wasn’t born that way, but who here can blame me for turning into one with all the crazy stuff going on in this world? Today people seem to say anything they want. They just make stuff up. If you want proof of this, just watch the race for the presidency in the US. Enough said.

I discovered I was a skeptic one day while drinking bottled water. I used to get clean drinking water at several places in or outside my house. I just had to pick up the hose and there it was, as much as I wanted and best of all, it was free. I think we can all agree that when healthy things are free that’s a pretty rare and good thing, especially these days.

But things changed after I married the Contessa and became “sophisticated.” Water was no longer free and I began a new routine of driving to the grocery store to buy bottled water. It didn’t stop there, because I now drink a particular brand of water called “Smart Water,” probably not a very smart thing to do as it costs more than regular bottled water.

Have you read about what’s inside your bottle of water? The nutrition label is all zeros, because there’s nothing in it besides water.

It’s incredible how advertisers have been able to convince us to start drinking bottled water when we all have free clean water to drink at home. I would love to meet the person who came up with the idea that we need to drink eight 8-ounce bottles of water a day in order to stay healthy.

In North America bottled water is a $170 billion dollar industry. I don’t know where all this bottled water is coming from, but I can’t get this image out of my head of a couple of people sitting in a bathtub somewhere filling up water bottles. That’s what being skeptical does to you.

Beware The Spin Doctors

All joking aside, it’s important to understand advertisers have over the years developed the ability to put a spell over us. They can make us believe something is good for us when it really isn’t, as with bottled water, or even when that thing is harmful. A good example is how they used to manipulated us into accepting cigarette smoking was safe, cool and even sexy. Even now I cringe when I think about it.

Back in the day, cigarette companies were worried about how the growing health concerns over smoking would negatively affect sales. How they duped the public into thinking cigarette smoking was safe is just incredible, if not criminal. The spin doctors knew people trusted their doctors and would follow their advice. They began to use medical research and physicians to convince the public that cigarette smoking was not harmful. They advertised that cigarettes were “physician tested” and “approved.”

One of the most famous campaigns was the “more doctors” campaign for Camel cigarettes. It stated that more doctors smoke camels than any other cigarette. It made cigarette smoking seem safe, which it wasn’t. The reason they could truthfully say that most doctors smoked Camels is that the company was giving away free camels to all the doctors who smoked.

You see more and more examples of this type of manipulation every day. Is fracking really safe for the environment? Weapons of mass destruction anyone?

Remember, everything is created for a reason

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Victory Lap Retirement now available

IMG_7669As the accompanying photograph of me and coauthor Mike Drak shows, the book Victory Lap Retirement has finally come off the printing presses.

It will be a few weeks before it is available in bookstores but it can be ordered and delivered now directly through the web site

At one level you could call the book, which we shorthand as VLR, as the sequel to Findependence Day, the book to which this website is dedicated. However, it is a work of non-fiction so it’s not a fictional sequel, although that project is still on a future to-do list.

The above photo was taken Thursday at Mike’s Toronto home. As you can see from our casual poolside attire, we’re trying to live the lifestyle described in the book, and summarized by the subtitle Work While You Play, Play While You Work.

You can also see the yellow book cover is now in rotation on the front page of the Hub, along with the US and Canadian editions of Findependence Day and the summary Kindle ebooks titled A Novel Approach to Financial Independence.

Victory-Lap-Retirement-BookYou can order any of these books or Victory Lap Retirement by clicking on the book cover image: it will relocate to fulfillment pages, using in most cases PayPal or credit cards tied to it. (The book has been available on pre-order but can now directly be ordered: we will mail copies out as soon as orders are received.)

The official book release date is September 26 and the in-store date is October 10. It should be available in Chapters and other major book stores and independents, plus some mass retailers.

You can see a bunch of testimonials on the Victory Lap website, including from such well-known personal finance gurus as the Globe & Mail’s Rob Carrick, the Star’s Ellen Roseman, the Post’s Diane Francis, BNN’s Larry Berman, CTV’s Patricia Lovett-Reid, and MoneySense’s Julie Cazzin, as well as from fellow financial authors like Gordon Pape, Ernie Zelinksi and Daryl Diamond.

Other media members and bloggers interested in receiving a review copy can request one by emailing Mike at or myself at

A Retirement book about NOT retiring

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Mike Drak’s Findependence Day: next stop Victory Lap Retirement


Mike Drak

By Mike Drak

Friday July 29th will be a day that I will remember for the rest of my life. After thirty-eight years, I finally packed in my banking career. I suppose my co-author Jonathan would call this my Findependence Day!

To be honest, it will take some getting used to as my banking job played an important role in my life. It provided financial security for my family and gave me a good reason to get out of bed most mornings.

My career, like most careers, had its good and bad points. Overall though, it was a good ride and one that I will miss to some degree, but I had to leave in order to publish Victory Lap Retirement and create my blog.

Banks really don’t like it when employees write books or blogs because it might not align with the story that they are trying to convey. Banks get nervous when employees stand out and don’t fit in, when employees invent something that is outside the approved message.

Banks are very protective of their brand. They want the customer experience to be the same in every branch across the country. They want every employee to talk, walk and act the same. They desire a high degree of predictable sameness, as it’s easier to control.

Why banks still sell the old version of Retirement

This is not a bad thing at first blush, but it tends to stifle individual creativity, which is costly long term both to the bank and its customers. The danger is that you end up being like every other bank selling the same story and nothing much happens out of the ordinary. Maybe this is why the banks continue to sell the old version of retirement, as it’s easier to sell to the masses. Marketing to the few is not very cost efficient.

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The Gift of Findependence


Michael Drak

By Michael Drak

Special to

Today there are a number of early-retirement bloggers out there doing great work, teaching people how important it is to adopt a frugal lifestyle so they can quickly regain their freedom.

They continue to preach the merits of “early retirement” but as far as I can tell none of the one’ I follow are really retired. They continue to earn money from some activity but the key difference is that they earn that money on their own terms doing something they enjoy. They have earned the option to take a traditional full-stop retirement but for some reason have chosen not to. The question we all need to ask yourselves is why?

The other day I read an article in the Toronto Star about “Canada’s Youngest Retiree” and his book that outlines the strategy that enabled him to retire at the early age of 34. The article went on to say he authored six national best-selling books after retiring and became a millionaire through investing.

Why not retire at 14 and make millions revealing how you did it?

I found the article interesting and said to my son Austin (who still lives at home): “Why don’t you pack in school, and retire? Being 14 years of age we could probably get you into the Guinness Book of Records as the earliest retiree on record. Then all you have to do is write some best-selling books about how you were able to retire at such an early age, go out on the seminar circuit and preach to everyone about how you were able to do it.


Canada’s next youngest retiree, 14-year-old Austin Drak?

You will make millions as people always want to find the quick-fix, the easy way to become financially independent without doing all the hard work. Austin was really excited about retiring and not having to go to school anymore but then the Contessa got involved and let’s just say that was the end of that.

I’m concerned we are being oversold on the illusion of early retirement as if it will be the solution to all our problems. Believe me on this, it will not be. You still need to have a well-thought game plan for what you plan to do for the rest of your life. In simple words, you need to find something fulfilling to do. Based on their actions most of the early-retirement bloggers and Canada’s Youngest Retiree would seem to agree.

A Retirement Lesson from my Father 

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Blog Tour for US edition of Findependence Day kicks off on July 27


Findependence Day (US edition)

The publisher of the U.S. edition of Findependence Day (available from in hardcover, paperback and ebook formats; click here to order) is organizing a blog tour for the book that kicks off Monday, July 27th and winds up on August 7th. Click here for the Indie Book Tour, or see below.

As of this summer, the US edition is now also available through two book distributors: Ingram and Baker & Taylor, as well as American libraries.

Here’s the current blog tour schedule for Findependence Day.

July 27

Write and Take Flight

Harmonious Publicity

July 28 

Carpe Librum

Read Between the Ink

July 29 

It Feels Drafty

Fiction to Fruition

July 30 

From Paperback to Leatherbound

The Literary Nook

July 31 

Voodoo Princess

The Revolving Bookshelf

August 3 

The Book Refuge

The Book Czar

August 4 

Lover of Literature


August 5 

Bent Over Bookwords

A Taste of My Mind

August 6 

All Inclusive Retort

Inkslinger’s Opus

August 7 

The Zen Reader

The Dark Phantom


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