下载 "5 Reasons To Start Collecting CPP At 60 | Canada Pension Plan Explained"

My Service Canada: https://www.canada.ca/en/employment-social-development/services/my-account.html Episode One: https://www.youtube.com/watch?v=u0s0dNQlzjc Episode Two: https://www.youtube.com/watch?v=mTDD8S34BZI Episode Four: https://www.youtube.com/watch?v=0TjND57pUSs Episode Five: https://www.youtube.com/watch?v=xbC_gxe8hco Taking your CPP at age 60 will reduce your payment by 36% versus waiting until age 65. We find that most of our clients jump to take CPP at age 60...it’s something they have paid into for many years and are eager to get something back out of it. While I understand the eagerness, it doesn't always make sense. Maybe you're still working or you have a pension along with registered investments to fund your early 60s...if that is the case, it's probably not best to start collecting CPP payments at 60. When does it make sense though? 1) You need the extra income stream to support you and pay your bills. 2) You didn’t work between age 55-60. 3) You have a shorter life expectancy – either from a current health issue or based on family medical history. 4) You are a conspiracy theorist and think that CPP will run out of money and you better gets yours now – this is a surprising large number of people. Based on the 2019 CPP Chief Actuary report the CPP is sustainable for over a 75 year projected period. https://www.cppinvestments.com/the-fund/our-performance/sustainability-of-the-cpp 5) You are concerned for OAS clawback and would prefer to have a lower amount for longer. OAS Clawback: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/recovery-tax.html CPP Benefits: https://www.canada.ca/en/services/benefits/publicpensions/cpp.html CPP Break Even Calculator: https://www.taxtips.ca/calculators/cpp/cpp-retirement-pension-calculator. 6 ways to level up your financial plan: Personal Finance for Canadians for Dummies: https://www.amazon.ca/gp/product/111952279X?ie=UTF8&camp=15121&creative=330641&creativeASIN=111952279X Free Credit Report with Borrowell: https://borrowell.com/free-credit-score Open an EQ Bank Account: https://join.eqbank.ca/?code=ADAM8851 Financial Calculator I use: https://www.amazon.ca/gp/product/B004N76618?ie=UTF8&camp=15121&creative=330641&creativeASIN=B004N76618 Financial Masterclass for Canadians: https://www.parallelwealth.com/masterclass 20% off an online Will at www.willful.co use promo code: PWFG ----------------------------------------- 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.