November is Financial Literacy Month. While we live and breathe financial literacy year-round, Financial Literacy Month presents another great opportunity to connect with our clients on some of their financial questions and concerns. One question that we at the Advanced Wealth Planning Group are often asked is: “When should I start taking my CPP retirement benefits?” Should they start them early? Take them later? Or perhaps stick with the standard age of 65 to start CPP?
The answer to this question will always depend on an individual’s specific circumstances. However, there are some guiding factors that a person can consider when making this decision; notably, the CPP breakeven age. The attached article discusses what the CPP breakeven age is and how to use it in your decision making. It also covers some other key considerations to weigh when deciding at which point to take CPP retirement benefits.
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