INFLATON & CPP | When should you start your CPP?

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How does inflation impact CPP advantages? With high inflation, both your contributions and benefits will go up. When should you start taking CPP? This video will assist you decide when to begin your federal government benefits.
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INFLATON & CPP | When should you start your CPP?

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27 Comments

  1. 📈📚🇨🇦 Join The Investing Academy Today – https://bit.ly/theinvestingacademy

    Do you know how these high inflationary times will affect the Canada Pension Plan, and how much you’ll get when you claim CPP? This video will tell you how things change with high inflation.

    Also, we’re excited to be speaking on stage at The Moneyshow Conference LIVE in Toronto this September. It would mean so much to Brandon and me to have you guys come out and support!! We’ll have a booth to meet you all and take photos 🙂 Best of all… It’s COMPLETELY FREE to attend!!! There are so many talented speakers at the event and it will be a blast of a weekend so I hope to see you all there – https://conferences.moneyshow.com/moneyshow-toronto/speakers/adec2b68f2144b24ba2e06060e4f8348/brandon-beavis/?scode=056838

  2. great video marc!! thanks for the great knowledge. im far from claiming CPP, but this is a good reminder to think about it.

  3. 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.

    1. Thanks for commenting and watching, Jed. I agree with your statement about maintaining purchasing power, but the decision of when to start the benefits is the issue right now. With the YMPE increasing at such a rate (brought on by inflation) an individual can benefit by delaying the start date and locking in that enhanced number for the rest of their lives. Maybe we see this differently, but that’s how I see it. Again, I appreciate you watching. – Marc

  4. 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.

  5. 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.

    1. I think the obvious answer is yes, the bugger question is can you sustain those high increases by investing the money every year?
      Most can’t.
      But obviously if you can then it only stands to reason paying half tax is better than paying full tax.

  6. I’m happy to hear this as I have decided to continue working and defer CPP for as long as possible. Thanks

  7. 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?

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