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Bravo for this extraordinary and enriching video. I am very grateful to you!✌️
It could be a good opportunity indeed. Thanks Marc.
Excellent video Marc! Thanks for putting it together.
Could you possibly do a video on Canadian Money Market funds VS Investment Savings accounts? With inflation continuing to fester, Billions of dollars are being funneled into these type of accounts. Thanks very much.
No wonder Brandon is like what he is today- because of the wisdom of the Dad. Good job Marc and thank you for sharing the wisdom to us!
Nice comment….good one…and I agree! 🇨🇦
Cpp. U forgot about oas.
My mom recently retired at 77 years old due to a cancer diagnosis. She worked for the hospital for her entire life. Her cpp is less then 400/ month. Same with her work pension. She went from comfortable to low income in the matter of 3 months. She has no savings. All together, with all different income sources, she’s at $1600/ month. That’s with low income housing.
Save your money people. This isn’t the way you want to spend your last years.
Nice Video Marc. I’ve been slowly investing into the passive income funds like this for almost 3 years now and have my monthly income up to $400 a month but I’m still just reinvesting it all back in. I will be 60 in 5 years so I’m hoping to get this monthly income up over $1000 per month so it supports my CPP. I’m only doing this type of investing in my TFSA and then I have my retirement plan through work and I have a RRSP at the bank and another RRSP which is my fun RRSP with Questrade and it only hold US dollars ETF’s so I’m kinda doing a bunch of stuff for retirement but my window is closing as I’m 55 in October my goal would be age 60 to retire but 63 is a age I’m thinking of taking CPP
Seems problematic to not include any mention or info regarding OAS.
It is true that a high earner has a capped CPP amount, but it’s also true their contribution was capped also.
I was surprised how much CPP I get. I think it has to do with the years taken off for being at home taking care of my two kids who were five years apart.
Great video Marc! I was wondering how the amount you will receive when you retire is calculated. You said to reach the max you need to make 66 000$ a year which makes sense, but are they taking into account every year I’ve worked in my whole life to calculate this number? Or is there a certain number of years that I need to reach 66 000 in order to receive the maximum amount?
I heard being a caregiver counts as well. You get credits for while your children are small. Not sure how that is calculated though.
Thanks Marc. Another very important episode! I always look at the cpp as canadas last resort safety net for those who find themselves in retirement with few resources to rely on. CPP definitely shouldn’t be relied upon for a comfortable retirement. I worked outside Canada for a bunch of years,so my personal CPP benefits are going to be minimal. However,knowing this early on,motivated me to save more for retirement . It was a great idea to remind everyone in this episode to check their own standing in the CPP. It may motivate folks to get serious about their retirement saving!
Thanks Marc for the great information, I took early retirement and living off dividend paying ETF’s ( Harvest HDIF is one of them ) alone and will differ CPP and OAS as long as possible with a target age of 70. Keep the videos coming, great stuff!
Marc, you were meant to do this! You explain things in such a beautiful comprehensive and clear way. You were meant to be a YouTuber or a teacher, in this case you are both lol ❤