Hindi pa huli ang lahat! | Retirement planning | Buhay Pinoy
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- Опубліковано 7 вер 2024
- Links for reference:
www.canada.ca/...
www.canada.ca/...
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Can you still build a good retirement plan if you migrate in Canada in your 40s? In this episode, Registered Retirement Consultant Mahel Antonio gives advice on how you can do it.
TFSA is a good source to supplement your pension. Please DO NOT mix your life insurance and supplement retirement plan. Get a term life insurance and make sure you are fully insured. It is affordable and not complicated compared to permanent life insurance. Also, watch Dave Ramsey and follow his baby steps. It is a proven and tested strategy to build wealth and secure your retirement. 😊
One strategy is to automate. Set a realistic automatic amount deduction from your savings/checking accounts going to your TFSA, RRSP, or FHSA. Start small as you adjust your expenses until you find what works for you/your family. Increase the amount as you get pay increases every year. All the best to everyone!
OAS is not really a pension, it is a social assistance which can be removed or reduced. CPP is a pension base on your contribution amount and contribution length.
1. Don't take on too much consumer debt (e.g. mortgage, car loan, credit card)
2. Pay yourself first - automate it so you are not relying on self discipline
3. Educate yourself on personal finance (i.e. read up on RRSP, TFSA, FHSA, taxation)
4. Read up on the different investment types (e.g. ETFs, Dividend Growth Stocks)
5. As Canadians, one of our largest expenses is Taxes so take the time to learn how to lower the taxes you pay
6. Avoid lifestyle inflation - be intentional in your spending
7. Start saving and investing TODAY!
Start as early as possible pag may work na.kahit paunti unti lng muna sa tfsa at rrsp. At dpat kumuha agad ng life insurance sa mga kakarating lng,khit term lng.bsta may protection ka,d ka na 100% magwoworry.
Another source of income when one retires is the company pension.
Mabuti po talagang magipon dahil di natin masasabi ang pwede mangyari sa atin or sa pamilya natin, Ika nga nila, "Kung may sinuksok, may madudukot".
Buti pa pinas may retirement mga empleyado. Pwed ka magtagal sa isang company and at the age of 60 may retirement package ka na tax free and thats on top of sss pension.
If you arrive in Canada in your 40s or mid-40s buying a house may not be the best suggestion. Assuming you need 10% downpayment, 25 year mortgage, the house will be fully paid when you are 65.
It's not so bad so long as one has a stable income. My wife and I bought our first residence when I was 47. Our mortgage will be paid off when I'm 69.
I tend to be very late to the party. I bought my first car at 57
@LeavethePhilippines2The same with variable rate mortgages. There's also a set period where there's a penalty for early payment but after seven years or so it's safe to pay off the entire amount
House is a good investment.
very informative..thank you spot pinoy❤❤❤
The Best Topic. How much is OAS
Age Maximum monthly payment amount To receive the OAS your annual net world income in 2022 must be
65 to 74 $713.34 Less than $134,626
75 and over $784.67 Less than $137,331
Sana po naitanong sa kanya kung she would suggest to continue contributing to Philippine-based plans like SSS, Pag-Ibig etc.
Very informative indeed!
*In a nutshell - sorry for sounding grim - Canada will suck it's residents' blood all the way to and even after death. Life in the country is enjoyable while a person is still in his/her prime, not towards the end of life.*
*It's also ironic that Pinoys come to the country for a "good life" but want to go back home to spend retirement because of cold weather and inflation only to find out upon return health care is suspended after 212 days overseas when an old retiree actually needs it the most. This is a country and governance that takes way more than it gives back to taxpayers.🤔🤔🤔*
For me 212 days is reasonable. If you’ve been to Canada for a long time and you have kids, i think it’s hard to stay in the Philippines for good. Going back and forth is enough, like a snowbird. For those without kids and have someone back home who will look after you in old age, doube your retirement savings, continue paying for SSS, Philhealth (if you can trust the system 🤔). And besides, how can you reach 65yo in the Phils., sa dami ba naman ng Paresan ngayon dun (Joke lang po 😂 Peace! ✌🏻).
@@Sakalam888Private healthcare insurance from reputable firms is only US$3,600 a year for 60-69 year olds with coverage up to US$1 million
You said it well. Its the reality in the pseudo socialist country like Canada
Super informative video. ❤❤❤
👍👍👍👍👍.
🤑🤑🤑
Better go to the bank and talk to their Financial Adviser.