😂😂😂😂😂yups that's the reality ..! Canadian economy is heavily dependent on immigrant fuelled housing demand..No matter what canada will still be short of housing supply atleast for the next 5-7 years if goverment starts cutting down on immigration.
Hi Navjot Chances are you will be over the OAS limit as well, so you won’t get it . But you could use the OAS money and not withdraw from your stock portfolio at 4%.
Excellent video and super helpful, now I have the targets i needed for the next 10 years. But couldn't find the list of countries with 15% withholding tax on CPP in the description
This is an extension of your earlier retirement video taking into consideration government benefits. We've social security and medicare in USA. Still not before 62 years of age. This is a good insight to someone who is planning their retirement - Get more knowledge, be proactive and realize importance of investing early on in addition to savings. Can you share some insights on how a property can cashflow $2500/month in CANADA/USA. I see you've some portfolio holdings in USA. More info share helps. Just an idea for upcoming video😀
Thank you! it was totally new for me. if you can make a video or any suggestion regarding term insurance will be helpful. Thanks again for putting so much effort in research and presenting.
Min 100 hours worth of research summarized in 25 min 🤩 I am assuming about half of 3 million stocks portfolio at age 65 would in TFSA. Since the withdrawal from TFSA is tax free, won’t the gross annual income numbers come down materially?
Thank you 😊 Yes - just under half in TFSA. You are right, the tax rate could be a lot lower, but you never know where the tax rates and slabs will be at
This is why I rate TFSA > RRSP. Because you can also get Guaranteed Income supplement. Plus what I would do is own lots of ETFS/stocks that give monthly dividends. You can technically live on the dividends and Government pension plan without worrying about your income which will be taxed if its in a RRSP or other investment vehicle. If you talk to CPA experts like Spurrel CPA they will say the same thing.
@@silas232003 if you are in a high income bracket and contribute to RRSP, the tax refunds could be used to fund TFSA. Issue with dividends stock is you are missing out alpha in returns that growth stocks offers if your retirement is long time away. I agree once you near retirement, there is a case to invest in dividend stocks due to preferential tax treatment.
Would you be interested to touch upon how the central bank can rapidly print $ at will (which they keep doing) and how that impacts all calculations and what is a hedge against it? I understand you account for inflation but unfortunately that 2-3% is a myth.
@@growwithnav Fair enough. However, eventually everything based in $ will get devalued be it stocks or real estate. You diversified your portfolio into various instruments to hedge risk but since all that is based in $, $ in reality didn't get hedged.
Social security & CPP will be spent before most people will be ready to claim it , the US social security has already a date , Canada will be same a few years here & there too .
fear mongering...I have been hearing this for over 20 years now....its being paid into constantly so how will it completely deplete? I personally pay over 30k taxes every single year. Only people not contributing are cash earners and fully retired ppl or those that immigrated at old ages and didnt work (they wont be eligible anyways)
Thank you for all the information meant for immigrants and how withholding tax if we retire in India. Just wondering what happens if you retire in India as a non-resident Canadian? Do I have to pay taxes both in Canada and India?
I see you said your parents live with you. Are they getting any of these benefits? is there any benefit available to parents who have not worked in Canada?
As far as I know you may get $1400 from CPP and maybe 900 from OAS if you lived, and worked in Canada for 40 years. I am not how you get the magic $7580/month. These numbers will probably go down in the future as the governments will have financial troubles due to debt that means less $ for government benefits.
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Same, I met Elizabeth stark last year for the first time at a conference in Wilshire, after then my Life has changed for good.God bless Elizabeth stark
its not meant to cover your life thats why you plan for retirement but if you eliminate your mortgage (which you should by retirement) you should be ok
Seriously sick of immigrant n students....study n gtfo please ...get out ....enough is enough ....beyond toomuch .....freaking they million students ...jeez everywhere ...get da he'll out ..hope my tax dollar help cbsa to kick students out ...
Ask your government and universities. They are greedy for the money we pay to study here and for your benefits we are paying to come here. Canada like students money but not students 😂
From your name you sound like you are an immigrant as well. Why are you hating on this man? He is responsible person, contributing to Canada. No need for the hate. Would you be cool somebody told you the same thing?
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Thanks for uploading it again. I always wait for Sunday mornings for your videos .
So nice of you
People start as engineers when they board air India plane to Toronto and in 3 years every one is a real estate agent and mortgage agents .
😂😂😂😂😂yups that's the reality ..! Canadian economy is heavily dependent on immigrant fuelled housing demand..No matter what canada will still be short of housing supply atleast for the next 5-7 years if goverment starts cutting down on immigration.
Don’t forget immigration agents
And Insurance broker
Hahahaha
More power to them😂
Very informative, was always having doubts regarding cpp and oas. You have clarified all with perfection
Thank you 😊
Great information, Navjot !!! Looking forward to the next video.
Thanks a ton
Thanks Nav! Great value
Glad it was helpful!
Once again enriching video especially about retiring abroad 🙂. Thanks Navjot!
Thank you 😊
I found title as clickbait
Ty for this detailed vid Nav!
🙌🙌
Hi Navjot
Chances are you will be over the OAS limit as well, so you won’t get it .
But you could use the OAS money and not withdraw from your stock portfolio at 4%.
Very impressive content Navjot. Many immigrants living in Canada for long wouldn't know how CPP/OAS actually works!!
Excellent video and super helpful, now I have the targets i needed for the next 10 years. But couldn't find the list of countries with 15% withholding tax on CPP in the description
Very informative Navjyot. Your videos are always crisp and to the point.
Thank you 😊
This is an extension of your earlier retirement video taking into consideration government benefits. We've social security and medicare in USA. Still not before 62 years of age. This is a good insight to someone who is planning their retirement - Get more knowledge, be proactive and realize importance of investing early on in addition to savings. Can you share some insights on how a property can cashflow $2500/month in CANADA/USA. I see you've some portfolio holdings in USA. More info share helps. Just an idea for upcoming video😀
Thank you :)
It’s there in my $5M retirement plan. The link to that video is in the description.
Thank you! it was totally new for me. if you can make a video or any suggestion regarding term insurance will be helpful. Thanks again for putting so much effort in research and presenting.
🙌🙌
Gr8 stuff keep going
🙌🙌
Nav, you are doing great job. We should connect sometime.
Thanks 🙏
Great video two things OAS is based on income and maximum CPP is based on if you started working at 18 years of age. Plus these are taxable😢
True
Hi Navjot, Thanks for the superb video. I would really appreciate if you can add RRSP to the same calculations as well?
A part of Stock investing can be RRSP. It’s like any other equity account. It’s how much you invest into it that matters.
everyone contributes differently and most ppl dont bother with rsp so doesnt make sense to include that....its highly variable
Min 100 hours worth of research summarized in 25 min 🤩
I am assuming about half of 3 million stocks portfolio at age 65 would in TFSA. Since the withdrawal from TFSA is tax free, won’t the gross annual income numbers come down materially?
Thank you 😊
Yes - just under half in TFSA. You are right, the tax rate could be a lot lower, but you never know where the tax rates and slabs will be at
This is why I rate TFSA > RRSP. Because you can also get Guaranteed Income supplement. Plus what I would do is own lots of ETFS/stocks that give monthly dividends. You can technically live on the dividends and Government pension plan without worrying about your income which will be taxed if its in a RRSP or other investment vehicle. If you talk to CPA experts like Spurrel CPA they will say the same thing.
@@silas232003 if you are in a high income bracket and contribute to RRSP, the tax refunds could be used to fund TFSA.
Issue with dividends stock is you are missing out alpha in returns that growth stocks offers if your retirement is long time away. I agree once you near retirement, there is a case to invest in dividend stocks due to preferential tax treatment.
I talked to them. They said you didn't know what you were talking about
Would you be interested to touch upon how the central bank can rapidly print $ at will (which they keep doing) and how that impacts all calculations and what is a hedge against it?
I understand you account for inflation but unfortunately that 2-3% is a myth.
Which is exactly why I don’t count CPP and OAS in my retirement plan. If i get it, it’s bonus
@@growwithnav Fair enough. However, eventually everything based in $ will get devalued be it stocks or real estate. You diversified your portfolio into various instruments to hedge risk but since all that is based in $, $ in reality didn't get hedged.
@@growwithnavI've said it before, I'll say it again.; When it comes to finance, you're a genius😊
Social security & CPP will be spent before most people will be ready to claim it , the US social security has already a date , Canada will be same a few years here & there too .
fear mongering...I have been hearing this for over 20 years now....its being paid into constantly so how will it completely deplete? I personally pay over 30k taxes every single year. Only people not contributing are cash earners and fully retired ppl or those that immigrated at old ages and didnt work (they wont be eligible anyways)
Oh sure, given the perfect situation in Canada, optimism is the only logical response.
Sounds really good. I don’t get how it’s relevant :)
Thank you for all the information meant for immigrants and how withholding tax if we retire in India. Just wondering what happens if you retire in India as a non-resident Canadian? Do I have to pay taxes both in Canada and India?
You should check with a CPA .
For Quebec, you can extend your contribution by 72 years.
Yes … works a little different for Quebec.
I see you said your parents live with you. Are they getting any of these benefits? is there any benefit available to parents who have not worked in Canada?
No benefit in most cases
hahahah why would we pay tax for people that didnt contribute to this country?
As far as I know you may get $1400 from CPP and maybe 900 from OAS if you lived, and worked in Canada for 40 years. I am not how you get the magic $7580/month. These numbers will probably go down in the future as the governments will have financial troubles due to debt that means less $ for government benefits.
Adjusted to inflation 30 years from now. My audience is early / mid 30s
What about if a person lived only 10 years after the age of 18, what will be oas
25% of the max amount.
You have to be living in canada now to get it.
If somebody worked only 2 years, and then retire early like in 50 age will they still keep getting cpp
A very small amount starting 60.
Can $2500 per month in stock market investment be replaced with RRSP ?
Sure - if you are high income and the employer is matching
@@growwithnav my employer does match RRSP contributions and i try to put my annual bonus too in RRSP. I find hard to manage RESP contributions. 😦
Don't forget any money you take out of RRSP whether you are retired or not fully taxable. You delay your taxes in RRSP.
Can you make a course on how to do research?
Interesting topic :)
@@growwithnav please consider as lot of immigrants suffer due to lack of guidance and remain stuck. Thoroughly enjoy your content ❤️ god bless you 🙏
Link to document doesn’t work: could you please share
The 4th link - www.growwithnav.com/money-tools
Hit $115k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in January
How please
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I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance
She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.
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I'm 37 and have been looking for ways to be successful, please how??
Sure, the investment-advisor that guides me is..
Elizabeth stark
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If Person has PR and go from canada but contributed full CPP. Will the person will get CPP.
You will lose your PR if you stay for a long time out of Canada.
If you work for a canada based company abroad. Talk to the cpa I would suggest.
Just 1365 ? 😂 how someone can survive
You can’t
its not meant to cover your life thats why you plan for retirement but if you eliminate your mortgage (which you should by retirement) you should be ok
WRONG information
Do you have to be a Canadian citizen to get CPP ?
PR should also be fine. Says legal resident.
Seriously sick of immigrant n students....study n gtfo please ...get out ....enough is enough ....beyond toomuch .....freaking they million students ...jeez everywhere ...get da he'll out ..hope my tax dollar help cbsa to kick students out ...
Ask your government and universities. They are greedy for the money we pay to study here and for your benefits we are paying to come here. Canada like students money but not students 😂
From your name you sound like you are an immigrant as well. Why are you hating on this man? He is responsible person, contributing to Canada. No need for the hate. Would you be cool somebody told you the same thing?