The Canada Pension Plan (CPP) is one of the most important sources of income for retired Canadians. If you’re wondering when CPP is paid in 2023, you’ve come to the right place. I’ll also go over how to receive the maximum CPP payments you can get below. CPP Payment Dates for 2023 Here are the upcoming pension payment dates for CPP: January 27, 2023 February 24, 2023 March 29, 2023 April 26, 2023 May 29, 2023 June 28, 2023 July 27, 2023 August 29, 2023 September 27, 2023 October 27, 2023 November 28, 2023 December 20, 2023 Note that these days include your monthly CPP payments for the follow ..read more

Worried about not having enough money to retire in Canada? You’re not alone. Over half (54%) of older Canadians have decided to delay retirement, mainly due to grim inflation numbers, according to this Global News survey. My parents have both recently retired, and I used my past experience as an advisor to help them plan their retirement and investments. Canadians now believe they need a whopping $1.7 million to retire, according to BMO’s annual retirement survey. But is this really a reality? The number seems a bit high. Let’s dive deep into this to finally answer the question of “how much do ..read more

Planning to retire in Canada someday?  Then it’s important to get a handle on all the different sources of income available to retired Canadians. I’ll focus on the more common ones I’ve seen from my days as an investment and insurance advisor. Here are the crucial retirement income sources in Canada that you should be aware of. Navigating Canada’s Retirement Income System Whether you plan on retaining your current lifestyle, upgrading, or downsizing, you’ll need a steady source of retirement income to keep the bills paid during your “golden years.” From government pension plans to employe ..read more

What’s the best age to retire in Canada? Let’s first take a look at when Canadians are choosing to retire. 46% of Canadians expect to retire between 60 and 70, according to this Scotiabank survey. This is quite accurate, as Stats Canada shows that the average retirement age of Canadians in 2021 was 64.4 years old. My parents have both retired within this age range, and it seems that our society is set up for people to retire around this time. But more people than ever are choosing to buck the trend and retire either earlier or later in life.  You must determine what is the best age t ..read more

Retirement – The golden years of a person’s life. After a lifetime of hard work, responsibilities, and obeying a work schedule, you can finally hang up the hat and relax in your home. More and more Canadians are choosing to retire in a different city in which they worked in, for a variety of different reasons. If you have decided to relocate for your retirement, you might be looking for the best places to retire in Canada.  Even if you have your own list of preferences for your place of retirement, this list can help. Taking a practical approach towards choosing your retirement city can e ..read more

The defined contribution pension plan (DCPP) in Canada is a tricky topic for many people. A DCPP is the most common type of pension offered by employers today and can be one of your key sources of retirement income, so it’s an important thing to understand. This article will go over all the ins and outs of a DCPP and how it affects your retirement. What is a Defined Contribution Pension Plan in Canada? The DCPP in Canada refers to a registered pension plan you can get when you retire. The plan differs slightly based on the specific policies that your company employs, but it has the same essent ..read more

Are you about to retire? One of the most important things you need to figure out is when to start receiving your Canada Pension Plan (CPP) payments. You will be able to start receiving the CPP payments between the ages of 60-70, which is a wide range that confuses a lot of Canadians. If you’re stressing out about what age to take your CPP pension, read on for a detailed breakdown. 1. Comparison of CPP payout money you receive at 60, 65, and 70 Below is a year-by-year comparison of how much CPP you will receive at 60, 65, and 70. For simplicity’s sake, I assumed a $1,000/month CPP payout at age ..read more

Are you a senior citizen with a low retirement income living in Canada? You might be eligible for a benefit that can supplement your retirement income. The Guaranteed Income Supplement (GIS) Canada is an additional payment you can qualify for under the OAS Act.  I will discuss everything you need to know about the Guaranteed Income Supplement in Canada below. What is the Guaranteed Income Supplement in Canada? GIS Canada is an additional benefit available to seniors with a low retirement income in Canada who either already receive or qualify for an OAS Canada pension. Having the support o ..read more

Looking to retire in a tropical paradise? Even though Hawaii seems like a world apart from the rest of the North American continent, it’s technically a part of the United States, which means that Canadians can stay in the country for six months out of the year without having to apply for a Visa. Alternatively, Canadians can apply for a residency Visa to retire in Hawaii full-time. Below, I’ll explain how to retire in Hawaii from Canada, following these steps: Deciding on snowbird vs full-time retirement Research and apply for a US Visa Decide which Hawaiian island you want to live on Plan you ..read more

If you’ve ever taken a trip to Rome or any other iconic cities and towns in Italy and experienced the rich culture, cuisine, and food the country offers, then you may be wondering how to retire in Italy from Canada. Below, I’ll outline your Visa options, compare the cost of living in Canada and Italy, and outline the following steps to retire abroad in Italy: Apply For A Italian Visa Travel To Italy And Decide Where You Want To Live Plan Your Retirement Income Apply For Private Healthcare Pack And Move To Italy Around 8.7% of Italy’s population are ex-pats, according to a 2021 report release ..read more