How much will pension Canada pay you? Is that Enough?
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- Опубліковано 2 сер 2024
- Get clarity from expert on pension and retirement planning, we will cover what are the ways you can plan an effective retirement and financial plan to grow your wealth.
✅Reach out to Shabana Hasan: information.ask.2k@gmail.com
✅Canada Pension Income Calculator: srv111.services.gc.ca/general...
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0:00 Highlights
01:15 Introduction
5:30 Types of Benefits
9:00 Eligibility
10:50 Value
12:50 Reliability of Pension
15:30 OAS
21:30 GIS
24:45 Retirement Planning
32:00 Things to Consider for Retirement
34:00 RRSP
35:50 Capital One
37:50 Tax Saving
40:45 Old Age Medical Expenses
41:40 RRSP WithDrawl
43:40 Need for Financial Advisor
44:45 Wealth Transfer to Kids
49:00 RRSP vs. TFSA
54:00 End
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My question is why we hold our money in RRSP insted of investing in back home to buy property etc at least after retirement
peace of mind
Not everyone get 1365. Average is 800$.
Min 39 Year work in Canada.
Thresholds 68,000 earnings.
CPP can get in your country only 20 years of Residency in Canada.
Honestly this video has such life changing advice.
Thank you for such knowledge. Especially for our community we need it more than anyone.
Thanks for your support
Extremely helpful and informative. Loved how she explained everything in detail. Everyone should watch this video to understand the basic concepts/elements of financial planning.
Thanks....
Very informative post… Thank you 🙏
I learned a lot from this, thank u very much 😊
Thanks,,,,
Excellent video and advice from Shabana. Thanks for the amazing interview
Thanks… 🙏
In Canada you will always remain middle class all your life with so many taxes
That's what makes Canada the best ... in other countries there is a huge gap between rich and poor ... middle class is disappearing ... but ... Canada has maintained this balance, and that's good for everyone if you think as a nation, not individually.
Shabana explained it well. I appreciate the idea of bringing her to the podcast.
Life insurance is definitely a good suggestion but what about the life insurance provided thru the employer. Does it cover the tax free benefit payment after one’s death. Are those life insurances same as she explained?
There should be separate detailed sessions for oas, gis, cpp, tfsa etc
Agree have covered some of these topics in separate videos on the channel and will keep covering more
There are too many taxes in canada, and they don't stop even after retirement ..... the system doesn't promote the middle class ....very sad
I would say the system doesn’t promote the salaried class…
Thanks a lot for good advice
Thanks 🙏
That is why Canadians are leaving Canada in mass.
Why aren’t you going back
Life insurance is also a separate and detailed
topic
Agree there is a separate detailed video on insurance
Have.
Very nice informative Videos 👍👏😊
Nice video, very informative! 😊
Thanks,,,
Very helpful very informative
Thanks 🙏
GREAT VIDEO
Thanks
Great info 😊
Thanks..
Very informative video in hindi language. Thanks.
Thanks for your support
Very good information
Thanks..
Videos should be short in length and to the point.
It would have been better if you had added links as well btw very insightful....
Also link added.
Nice
Does a retired (65) person qualify for GIS when the annual income of both spouses is high.
For example,
Retired spouse makes 19k. Other spouses make 80k. Together, 99k.
It’s on Individual income
I have a question about CPP, lets say someone never worked or did a job to contribute to CPP; what about him at his retirement age 65 and when he will get CPP or not?
Short answer is no cpp…. But I would highly recommend to use the cpp calculator….
@@NorthAmerican-Desi dear, if someone landed in 2015 and from that time to his retirement he never did a job and did not contribute a penny! and at 65 age what he will be getting except OAS?
My parents were in UK, life insurance is too expensive to afford. Do you think with $ 1300 pension can meey insurance. Ridiculous
Really nice podcast ,just hv Question how should i chk my contribution in CPP till date
Thanks…. That’s number you can find in your tax returns…
V. imp.information,keep it up👍
Pls.share what about the house wifes which are dependent on their husbands due to some reasons.They are eligible for pension and OAS or etc.
Best to reach out to Shabana directly... information.ask.2k@gmail.com
If you 3years for your retirement.At what year you should apply for your CPP?pls let me know.Thanks a lot.
If the intent is to maximize your return… it’s a complex math with some assumptions it’s best to work that with a financial planner… I suggest you reach out to Shabana
If someone is planning to stay in Canada for 4-5 Years, should he opt for TFSA account ?
Yes in that case it’s best to only hold tfsa
What about RRSP or joining companies with a private pension. It was never meant to be enough.
Yes typically those company plans (dcpp) are far more lucrative / better…
@@NorthAmerican-Desi Also, What about DBPP plans.
Any pension income you receive, such as from a Defined Benefit Pension Plan (DBPP) or the Canada Pension Plan (CPP), is taxable. Receiving these incomes can also reduce your Old Age Security (OAS) benefits through the OAS clawback if your income exceeds a certain threshold. Therefore, higher pension income may reduce your OAS benefits.
Take your pension go live in Bangladesh 😊
Government pay ccp of my wife only 178/- only
Yup that is so so low doesn’t help with cost of living
My husband gets OAS letter but he is still working should he apply or wait until retirement
That’s a very specific question I would say best to reach out to Shabana
If we left Canada after 5 years CPP contribution, then still we eligible for pension after 60 years?
Yes as long as you did contribute to cpp… now issue is contributing only for 5 years will only leave you with a few dollars as cpp payments
Mark, my words. A pension after retirement is not even enough to buy good-quality food for a month. Period.
Exactly…
That's true
Go and work, stop complaining.
@@kamkala7047, I hope you keep working all your life for corporations and keep making them rich. It is not about complaining but about overall balance.
I have a house, if I tranfer my house to my child in my life. At this point, will my child pay gain tax?
Will be making a video on estate planning … stay tuned
What will happen if i retire before 60 years old.?
You will need to rely on your savings and investments… govt pension will only kick in at 60
If we invest 20000 amount from TFSA for a 1yrs its good or not
Can you share more details to your question… you want to transfer into tfsa 20k or you have 20k in tfsa and only want to invest for 1 year and then take it out ?
I have 20000 in my TFSA since 3 yrs so i want to invest them in some others ways at least i can receive some profets
@rukhsanashaukat7472 I would keep it in tfsa but invest in stocks like done leave it as cash…
I would buy vsp.to (S&P 500 index) in small increments over next 6 months using that 20k…
Canadian now living in india.new subscriber
Many thanks for your support.
Hello I was disabled government has AISH and CPP and retired after 65years now government has 2800 after 65years how much pay me please explain and my 60 years retired reason of she help me for dialysis and other medical care
I am not fully clear on your question but if you want to know the exact amount you should expect to receive then go on to the calculator link I have shared in the description of this video
Nothing new in this video. Everything you can find go on Canada pension plan. And will get every answer
She didn’t say anything
As in ?!!
Pension ke lie canada main saal main 180 din rehna jaruri hai? Pl reply
Yes
@@NorthAmerican-Desi may be it is only CPP?
@surinderkumar-ku4bw I meant for all and any benefits called out in this video
@@NorthAmerican-Desi thank you for uploading such informative video.
If any body have visit visa for 7 years and he is in canada for 55days going back to home country soi want to know about PR how and when apply for this ? is it possible to get urs contact no pl give me for further information if u do not mind
Hi I highly recommend you consult an immigration consultant… the one I recommend I have left there contact details under my immigration related videos I strongly suggest you reach out…
Here is the contact email: information.ask.2k@gmail.com
Thanks for reply and information😊
Where are you located
Used to be canada… recently moved to usa with our jobs
She is very confused and doesn't know anything, even contradicting herself and giving wrong information.
Can you say exactly which part… like any one example…
@@NorthAmerican-Desi For example, when you inquired about which income will affect the Old Age Security (OAS) payment amount, she stated that the amount you had been earning before retirement would impact it. This is incorrect. The OAS payment amount is influenced by your income from the year you turn 65 if you are receiving it at age 66, and by your income from the year you turn 66 if you are receiving it at age 67. Pre-retirement income does not affect OAS payments.
Mujhy tu nhi milta kuch bhi
You should certainly talk to a financial advisor and see why not and how to
👽👽👽👽🌏👽👽👽👽
Unprofessional
Sorry?!?
Who should do the life insurance parents or kids not clear
Your self as a parent should get a life insurance…
Who will give the insurance when you are old
Sorry not clear on your question? There are insurance companies that provide insurance you can reach out to Shabana for more details - contact email in the description of this video
Please explain if I leave canada after being here for 10 years, will I get OAS? Is it mandatory to be a Canadian citizen?
If you've lived in Canada for at least ten years after turning eighteen, you may be eligible for the Old Age Security (OAS) pension, even if you leave Canada. Being a Canadian citizen is not mandatory to receive OAS, but you must meet the residency requirements. If you live outside of Canada, you need to have lived in Canada for at least twenty years after turning eighteen to continue receiving OAS payments abroad.
Kindly provide Shabana business contact information
Here you go: Reach out to Shabana Hasan: information.ask.2k@gmail.com
Shabana contact number
Information.ask.2k@gmail.com
@@NorthAmerican-Desi Thanks for sharing. Do you know what are the charges for Financial planner services in general. An idea should be sufficient to know how much.