I took my CPP at 60 (that was 15 years ago!). There is a reduction for taking it early, but if I recall, the point where my reduced amount (that I had received and could be enjoying) crosses with the full allowance, does not occur until approx age 85. We figured that we would have more ability to use the money when we are a bit younger... especially the 5 years from 60 to 65. I don't know if I am explaining it clearly... but at least you can treat it as something to look for. There is often a certain "cost" to going to work. Commute expenses, clothing requirements etc. They are reduced and time is available for other activities which do not necessarily cost much, if anything.
Thank you, David. That is very helpful and encouraging. Gerald just read your comment as well. Thank you very much 😊. We appreciate you sharing your wisdom. 😀
hi my little tater tot ! Rich took his CCP at age 60, he's now 64 & up to 1/4 of what he would make working, it actually set us back. But, he still works too, seasonal, so not sure how that works. It's only that i get OAS that we get by. He plans on working, til he can't . Anyway. luv the winter pillow cases AND the earrings too !! tfs hon xoxo :uv u all
Thanks, Patty. I knew that with the pensions that it is quite a drop. Thanks for sharing about Rich. I appreciate you sharing that. I am glad that his seasonal work helps out and your OAS as well. 😀
Yes old age pension is 65 but Canada pension plan you can take it at 60 but there is a penalty of a percentage for taking it early . That can be a significant amount check into it before he goes that route please .
Turning a hobby into a business join the crafters to see how they do it Gerald will need a hobby when he retires too . Woodworking if he likes that sort of thing . I make adult. Clothes savers aka bibs for seniors requires big fingers sewing skills also make walker bags google those things the patterns and how to are on utube .
Perfect earrings for fall and if you go to the Pumpkin Festival this year!
Those are lovely pillow cases
Thanks so much, Catherine. We are excited about using them this winter. 😀
I took my CPP at 60 (that was 15 years ago!). There is a reduction for taking it early, but if I recall, the point where my reduced amount (that I had received and could be enjoying) crosses with the full allowance, does not occur until approx age 85. We figured that we would have more ability to use the money when we are a bit younger... especially the 5 years from 60 to 65.
I don't know if I am explaining it clearly... but at least you can treat it as something to look for.
There is often a certain "cost" to going to work. Commute expenses, clothing requirements etc. They are reduced and time is available for other activities which do not necessarily cost much, if anything.
Thank you, David. That is very helpful and encouraging. Gerald just read your comment as well. Thank you very much 😊. We appreciate you sharing your wisdom. 😀
Thanks for sharing about the certain cost to going to work.. you are absolutely right. Very helpful insight. 👌
hi my little tater tot ! Rich took his CCP at age 60, he's now 64 & up to 1/4 of what he would make working, it actually set us back. But, he still works too, seasonal, so not sure how that works. It's only that i get OAS that we get by. He plans on working, til he can't . Anyway. luv the winter pillow cases AND the earrings too !! tfs hon xoxo :uv u all
Thanks, Patty. I knew that with the pensions that it is quite a drop. Thanks for sharing about Rich. I appreciate you sharing that. I am glad that his seasonal work helps out and your OAS as well. 😀
Don't forget CPP is taxable income as well as I believe any work related pension in come. Something to consider
Nice information
Thank you, Belinda. 😀
I follow Tracy @Nova Scotia Living .shes in Digby actually bear river I think . You should look her up she seems like an awesome person
You both have a video on the bear river cherry festival
Yes, I am familiar with Tracy. 😀 I sometimes watch her videos as well. She seems like a nice person. 😀
@@MichelletheIntrovertI follow Tracey as well 😊
Hi Michelle! Just checked the canadian government about pension eligibility. It says you have to be 65.
Canadians can receive OAS at 65, but people can receive CPP at age 60 if they want to. There's always so much to learn, lol. 😀
Yes old age pension is 65 but Canada pension plan you can take it at 60 but there is a penalty of a percentage for taking it early . That can be a significant amount check into it before he goes that route please .
Check out the Canada government site for your information on pensions . It’s all there
Turning a hobby into a business join the crafters to see how they do it Gerald will need a hobby when he retires too . Woodworking if he likes that sort of thing . I make adult. Clothes savers aka bibs for seniors requires big fingers sewing skills also make walker bags google those things the patterns and how to are on utube .
Oh yes baby burb cloths are good too for craft shows .