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How does inflation affect CPP benefits? With high inflation, both your contributions and benefits will go up. When should you start taking CPP? This video will help you decide when to start your government benefits.
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Great discussion!
I had no clue how profound retirement age affected CPP values! Thank you!
The biggest question is what the break even point is for each individual, assuming that a person is healthy and can still afford to keep working. Is there a formula to determine when that point is >> I always enjoy your videos, great information
Love your pension videos. So much great info. In Cynthia's case, are those amounts assuming she continued working past 60 when delaying taking CPP or continued working and retired but delayed collecting? Is there a difference?
Hey Mark, great content as usual, what are your thoughts on the current market environment ? Huge dip to come once they announce a recession ?
Although I'm still roughly 25-30 years off from retirement, I really appreciate the information. My parents recently retired and had no idea how CPP worked so they couldn't teach me. This video helped me understand it so much more. Thanks!
With inflation so High it is prudent to work longer and retire later.
I guess another factor is in your older years you won't be as likely to travel or enjoy the money as your physical abilities decline and of course the uncertainty of your lifespan. This comes down to an individual decision based on your circumstances at the time financial, health and what kind of lifestyle you want to have in your 60's. I could see taking it right away to enjoy your life now as a solid argument as well since when your 60 you'll be in far better shape to enjoy it than at 70 even though the math does not seem to be in your favor.
toda la información sobre el CPP es genial, una buena forma para tener un plan de pensión, gracias Marc!
"all of the information about CPP is great, a good way to has a pension plan, thanks Marc!"
Great video. Thanks
I think many Canadians don't fully understand the ramifications of when to start the CPP. You broke it down eloquently; nice job Marc.
I am currently receiving a $500 survivor benefit which is pretty close to my deduction if I take CPP next year when I turn 60. Am I correct in thinking there would be no advantage in waiting to collect when I'm 65?
Awesome video, some great info here!
I'm happy to hear this as I have decided to continue working and defer CPP for as long as possible. Thanks
Does it make sense to take CPP early if you can invest it and generate the same return as if you delay taking CPP? Given that only 50% of the capital gains are taxable, while 100% of the increase as a result of deferring CPP is all taxable.
Always nice to listen to you and you always make many good points…62.5 is an average is good to know when collecting CPP. Just like in investing time is the key…..if you are healthy and don't need money 63.5 or 64 would be better and getting a little less before 65 is easier to take $$$$$ money wise. At 57 I am getting close to making my decision…we will see when the time comes.
Great video and great advice. Thank you!
Awesome video. Thank you
I felt it was a little misleading. CPP is structured to maintain the purchasing power of the monthly payment as it was when you started taking it. I'm not so sure this is a rare opportunity. I believe the advice remains the same: do the calculation to determine when you should start to draw CPP to provide the best benefit to you in your situation.
great video marc!! thanks for the great knowledge. im far from claiming CPP, but this is a good reminder to think about it.
Damn it I’m 5th