Can you add beneficiary?

Its canada govt taking 30% if you live in another country

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family

Just play the video in 2x. You are very welcome.

If you geting max OAS it mean you are born in Canada or came as child if you geting max GIS it mean you are single and newer work in Canada($750+$1050=$1700) but say you came to Canada 35 yers old with family, work for 35 years for $2000-$4000 per month pay taxes you will get avrige Canadian pension of$750, OAS$530 and GIS $500 (since you have working pension you can't get maximum GIS) so total $1780😮.So it seams it is better don't work in Canada since after 65 yers most persons working or not will have almos same pensions. I ❤ Canada country of opportunity.

But what if its your only income

Possibly, you need a chart also withdrawing CPP and life expectancy life expectancy. Why force elders to work another 5 years to 70? Most, already worked 50 years. Let them have more money in their last few years of living.

Hey he looks like Drew from Property Brothers

Hey he looks like Drew from Property Brothers

Just making extra principal payments WILL PAY OFF your mortgage FASTER than this MANU-SCAM HELOC!!! And you’ll pay LESS INTEREST!!!

With Manulife you WILL PAY a HIGHER RATE!

It’s a HELOC. So it’s a TRICK, to get you to pay a HIGHER INTEREST RATE!!

I hadn't given any consideration to putting off CPP to 70. I plan to retire at 65 in a couple of years and it didn't make sense to me. Sat down with my financial planner, looked at the data e) understood everything and left that meeting with my mind completely changed. I think we all get wrapped up into this idea that we have to beat the system and the very thought of dying before we get CPP is probably what drives most of us to take it early. But melting down my RRSPs and RRIFs in the early stages of retirement should allow for a more comfy retirement so that if something did happen at least I can say I enjoyed life as much as I could.

Some good points , sure. Just don't eat so many gummies before-hand

Can we add both or successor is a better option.

bro you need a thumbnail designer Because I see that the quality of your designs is not that attractive

Thank you sir for these precious informations

Hello and Good day, Let me start off by saying if you detect a tone in my language I sincerely apologize, but after spending hours on the phone and internet, I am truly frustrated. This all started for me back with Bare Trust near end of year, but this has nothing to do with that. Well Kent the Canadian Government, CRA has done it again. Announcements of doubling the GIS one time for July 2024 is being thrown around like cheap beer at a stag party. But what is the real talk . A friend of mine just got told that Money they were entitled to from 3 years back (2021 -2024) in the Form of GIS payments to the tune of $12,000 plus dollars is coming to them. Starting In July 2024, The letter states that the OAS will increase to $1099.77 starting in July, with the GIS included? Which brings several questions with the rush of this so called increase flooding the web. Firstly does this mean the back pay of $12, 000.00 will be paid back over a period of time? Is the $12000.00 going to be part of the (BS) increase being thrown around? IS Back pay GIS always sent out in instalments? since It should have already been paid over the last 3 years? I tried to call CRA on their behalf but of course was put on hold and told to call back etc. So Frustrated and having followed your video's for many years, Thought I might get a straight answer from you as to how it is "normally " handled and if you have any insight into this "one time "payment to OAS members who Qualify for GIS. Plus I thought for sure If I am struggling I can not be the only one and you may consider doing a whole video on the subject. Again I would like to sincerely apologize for my Tone but having to deal with the CRA as a common person is extremely upsetting. Thank you for any help or insight you might have and I do hope you are having a wonderful summer.

I have been a Canadian all my life as well my wife. What I would like to know in our case what is it happening? Also if I may add my wife has a better pension than what I get personaly and we are living with a certain budget and we have been mary to 49 years that would be in the 9th. of August next month. Are we in title to one like GIS and OAS both of us? Tell us please if you can which of the two are we in title are we aloud to get. We are so mixte up as you are.

Listening to this was painful for me. You are so far off just about everything you've said. You shouldnt be talking about this subject at all. Do some actual research

Does anyone not take into account that 640/month received starting at 60 years old until age 65 equals $38,400 that won't be in your pocket if you wait?

I'm struggling with how these software programs account for a larger RRSP with a good size non registered account that generates capital gains and dividend income. The dividend income grosses up the marginal tax rate, and combined with capital gains means a much higher marginal tax rate for RRSP withdrawal. How does one practically manage to be able to meltdown the RRSP enough to both minimize overall taxation and maintain income below OAS thresholds? Can you put assumptions into this AI software to account for the type of investment income (dividend, interest or capital gain)?

I'm struggling with how these software programs account for a larger RRSP with a good size non registered account that generates capital gains and dividend income. The dividend income grosses up the marginal tax rate, and combined with capital gains means a much higher marginal tax rate for RRSP withdrawal. How does one practically manage to be able to meltdown the RRSP enough to both minimize overall taxation and maintain income below OAS thresholds? Can you put assumptions into this AI software to account for the type of investment income (dividend, interest or capital gain)?

Because of the Attribution rule. Suggestion for what to do with the money in the last 3 years? Presuming TFSA if room?

Thank you for your insights. Lots of things to consider. Since our expiry date is a big unknown, I'm thinking that perhaps the single person (in this example) should consider taking CPP and OAS as soon as he/she can so as not to leave CPP/OAS money (a life time of contributions) on the table. Especially if they want to leave some money to beneficiaries/relatives.

It’s insane that a couple making $250,000 gets an unfounded government benefit. We have a $40B deficit for the love of God. This is just intergenerational wealth transfer for the rich.

Hey thanks so much for making this video. Wife and I have DB pension. My wife’s a teacher also, so your video is spot on! Agreed with high risk investments for increased longer term. One thing I was hoping for was some recommendations for ETFs. A lot of people recommend XEQT for all in one or a combination of XUU + XEF + XIC if you want to adjust the US portion. VFV/QQQM are also favoured these days. Just wondering what your thoughts are? Cheers.

Thank you, so good to finaly hear from someone who actualy knows how to run a calculator and understands the effect of the inflation increase when delaying CPP. As an aside if I die early I won't care that I did not collect the highest possible CPP benefits, I will be dead and my heirs will get to spent thei time fighting over the pile of cash I left behind

Canada Peanuts Plan only replaces a maximum of 25% of your lifetime average annual income. At 65 as of 2024, the average payout is a big $758.32 per month... good luck with that.

I applied for oas and gis after 65 , why do they add these two together , and I only get the minimum payments witch is 1400 .00 per month and that includes cpp . ? I thought these payments were paid separately.

NB's rules are stupid to be honest. They want you to die with most of your money never touched.

Thank you for that information

With the cost of living today cpp n oas n gis which most people don't get much on so poverty level existence

House for 450,000!? Hmm, where is this? Is she selling it?😊

invaders to canada get $366 per day as a living expense... weird

Stan Annuity Man suggest a MYGA Ladder or MYGA to SPIA? Have you heard of this before?

I retired from Hospital with modest fixed Pension. The Pension is actually through TransAmerica Insurance Not from the Hospital so they shud not be able to change anything no matter what happens to the Hospital.

Commuting the DB pension to an annuity is interesting. I'll need to look at that when retirement gets closer. Still a few years from now, at minimum. Though longevity is so hard to predict with any certainty.

😂 last time I checked a smaller home still has a toilet that you may have to get down on your knees to clean behind it. Sorry couldn't resist. Maybe moving to an assisted living will get rid of the job or hiring a housekeeper to do it for you.

Who here can even guarantee the CPP plan will even exist by your 65th year....take early, take often.

A bird in the hand...

my husband died I GOT MY WIDOWS PENSION but when i WAS INTITLED TO my cpp and old age pension they gave me my widows pension but they said i did not get old age and widows pension so they gave me widows pension but nothing mor when i went to get my taxes done the said i have cpp and old age pension but wher is my cpp or widow pension ?

OAS and allowance are not considered income when calculating GIS according to Rev Can site.

Hello Kent, Your teaching is great, speech is fine. What about using a board with the numbers , simple demo etc, instead of using your hand gestures. It is easier to retain info when it is seen as a visual....easy to remember....the tables are helpful but have to take time to follow contents , thanks for taking time to help educate many....

Is unlocking based on where the pension is REGISTERED or where JURISDICTION? I worked for national company. Pension registered in Ontario but jurisdiction in BC (where i was employed). Thanks.

They have a calculator on the serivce canada web site now.

How much longer will we be hearing about this, when will it materialize, stop it already.

sound Good it will bankrupt the whole country muck sooner then everyone will get nothing

The Gov has all the stats on life expectancy...they want you to take it later in hopes you won't be there to take it at all. Even though you are rewarded with more $ if you defer taking it at 65 it will be 74 until you break even if you had started collecting at 60. Take it at 60 so you are in better health and are more likely to be around to enjoy it

So.....what is the max entitlement for a person who has avoided paying taxes their whole life, has never paid into any pension plan and owes hundreds of thousands to Revenue Canada? I know a fellow who falls into this category...