Should You Take Your CPP Early? | Financial Tip 36

Показать описание

Typically, we advise our clients to delay CPP as it is a more efficient way to fund your retirement. With this said, you may find yourself in a few situations where it may be wise to start CPP earlier than 65.

6 ways to level up your financial plan:

-----------------------------------------
DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

#shorts

Рекомендации по теме

Комментарии

A friend of mine that owns his own corporation (he's the only employee) and the advice from his accountant is that he should take his CPP at 65. I believe the reason for him to take his CPP at 65 rather than deferring to 70, which is what he planned to do, is that he'll still be receiving income from his corporation (from retained earnings I think) and he would be making both the employer and employee contributions. If he takes his CPP at 65 then he can elect not to make any further CPP contributions. It's a different scenario from us regular working stiffs that are probably best to defer to 70 if we can.

ddavidson

Adam, after watching this video and a few others (including your in-depth video on taking CPP at 60), I am wondering what your recommendation would be in my wife's case. She is a 54 year old nurse and is adamant that she is retiring at 57 (she is already past her magic 80 number). Her nursing degree took 5 years, and if she retires at age 57, that is 8 more years of zero income factoring into the calculations. She also had 3 maternity leaves that were 6 months in duration, which may give her more years to take eliminate from the calculation. So she had very little income from 18-23 and will not contribute to CPP for 8 years from 57 to 65. So in her case, is it better to start CPP at 60 so that the calculated payout is higher than it would be at 65, or does the .6% per month deduction still make the argument for starting to collect at 65 or later?

jameslazar

Should You Take Your CPP Early? | Financial Tip 36

The Truth About CPP - When should you begin your CPP

When Should You Start CPP?

Top 8 Reasons to Take CPP at Age 60 | Canadian Retirement Benefits

Why Taking CPP At 65 Is The Worst Possible Option

7 Reasons To Take CPP At 60

What Happens To Your CPP When You Pass Away?

Should You Take CPP Before age 65? Pros and Cons

When Should You Take Your CPP If You Have A Defined Benefit Pension?

CPP, Explained - Everything You Need To Know About The Canada Pension Plan (CPP vs OAS)

How Much Money Will I Get from CPP and OAS? // Canadian Retirement Benefits

Should You take CPP Early?

Should You Take CPP Early and Invest?!?

Should You Take CPP At 60? | Canada Pension Plan

The Difference Between Taking Your CPP At 60 vs 65

How to TRIPLE your CPP benefit | Inflation & CPP

When To Take Your CPP? (5 Questions To Ask Yourself!)

Should You Take Your CPP Before 65?

Taking CPP At 60 And Investing It - Is This A Good Strategy?

Should You Start CPP If You're Still Working?

You Probably Shouldn't Take Your CPP At 60...

Find Out When To Take Your CPP

A Complete Guide To CPP And OAS When You Retire

What Happens To Your CPP & OAS If You Retire Abroad?

CPP Sharing Explained: Does It Make Sense For You?