Best explanation on youtube for QPP Thank you Mr Guay
@QualitativeInvestor2 жыл бұрын
Thank you for coming back. Please do more videos like this.
@denverconeybeare91872 жыл бұрын
I missed your videos! So glad you're back.
@russellmitchell2 жыл бұрын
Good video Peter.
@PeterGuay2 жыл бұрын
Thanks Russell!
@CarlosPacheco2 жыл бұрын
Welcome back Angelica
@nadiaedison13462 жыл бұрын
Hi Peter, If the person starts working in Canada at the age of 40. so what is the best time to retire?
@QualitativeInvestor2 жыл бұрын
3:00 How many "Best" years they will take as sample for "Best Contribution Years"?
@PeterGuay2 жыл бұрын
If you take the CPP/QPP at age 60, they consider 35.7 of your best contribution years (60 minus 18 times 85%). If you take it at 70, they consider 44.2 of your best contribution years. The later you retire, the more high contribution years you need to maximize the benefit. But as I said in the video, by waiting an extra year without contributing, the bonus for waiting more than offsets the extra year that you don’t contribute.
@PeterGuay2 жыл бұрын
Great question!
@QualitativeInvestor2 жыл бұрын
@@PeterGuay Thank you Peter for detailed explanation.
@James_482 жыл бұрын
@@PeterGuay is it correct, that if you stop working at 60 (or any year before age 70) the years between age 65 and 70 are excluded (and therefore don’t count as “zero earnings” years)?