How To Understand & Benefit From the CPP Changes 2024
Вставка
- Опубліковано 22 чер 2024
- If you're a beginner investor or just looking for some tips and tricks, consider downloading my FREE e-book specially made for Canadian Finance: www.canadianfinancepro.com/be...
How To Understand & Benefit From the CPP Changes 2024
Very important changes coming to the Canadian Pension Plan in 2024 and beyond. This video briefly breaks down the new CPP enhancement being implemented in 2024. Canadians planning to retire will receive enhanced CPP benefits but that also means more tax deductions and more CPP payments in order to get there. The new CPP rates will be 4% higher for employees and 8% higher for self-employed Canadians.
New Videos Every Week - Subscribe Here: bit.ly/SubBassemZahili
Follow me on Instagram: / bassemcfp
Follow me on Twitter: / bassemcfp
-
Hey guys, welcome to the channel I'm a full time Chartered Accountant as well as a part time Real Estate agent with a background in finance, investing, budgeting and of course, real estate.
I've been on a personal mission for the last 10 years to build multiple streams of income, including both passive and active income. On this journey, I've gained a ton of domain knowledge about personal finance and investments that I would love to share.
My goal for this channel is to help you understand basic taxes, personal finance, investing, budgeting and expense management.
If you're a beginner investor or just looking for some tips and tricks, consider downloading my FREE e-book specially made for Canadian Finance: www.canadianfinancepro.com/beginners-investor-handbook
Bring back the trading videos. They were great!
Dang ok, I stopped the trading videos since they weren't getting any views anymore, wasn't sure if people were interested.
Thanks for the short video. I've seen headlines saying "big changes" to CPP but just thought it was clickbait. Not a fan of this "enhancement"!
I've vaguely heard that CPP was in good hands and wouldn't fail (or at the very least I heard that the federal government is unable to steal from it). I'd appreciate hearing the bear case about CPP.
Well, I need to spend 5-10 minutes making a video about it, but our CPP Is not doing well at all. I think its the reason they're bringing in 1M immigrants bc its running out and they need people to fund it. No evidence of this though, just my thoughts.
Not to mention the case for two of our largest age groups being in or approaching retirement. 7 M Canadians 65+, 10 M Canadians 45-65, and only about 14 M Canadians 18-44. It's going to be hard to support so many in retirement compared to a smaller demographic contributing.
so then 7m already contributed , the next 10 M still contributing along with 14 M..... not to bad...@@rushbros
In 2064 you won’t be able to buy a candy with $1900 per month. That if the world survives until then.
Its a grim outlook for sure.
It won’t
Can you make a video about the new wealthsimple regulation effective 1 January 2024 ??? « Your crypto account, and our crypto platform, will be overseen by the Canadian Investment Regulatory Organization (CIRO).
Let me take a look, I saw that email but didn't actually go through it.
The TLDR 😩
It hurts but its true.
Ugh... They mismanaged CPP and trying to grab more money from the working class for their mistakes of losing the investment. So I am going to pay 4% more starting 2023. My wage raise was 1%-2% yet I am paying 4% ... I tried to calculate this. Guess what, I am actually making less money in 2024 compared to 2023. Lol😂
Shoot, I didn't actually calculate my new salary/tax as well, I think I'll be making less as well.
@@CanadianFinanceProwell, we try to make more passive-ish income!!! Will you be incorporating dividend investing to your youtube?
Yeah I try to release some dividend stocks every few months. my issue is: I've already recommended all the best divvie stocks like twice already. I don't want people to get bored of me repeating myself.@@winforyou4630
Find someone to work for for Cash
I mean, then you won't get any CPP benefits, you'll have to pay into it, I know its not a lot, but it'll help when you're retired.