ฝัง
- เผยแพร่เมื่อ 10 ก.ย. 2024
- In this video, I dive into the essentials of Defined Benefit (DB) plans in Canada, using a real client's DB plan as a case study. Learn how to carefully analyze your own plan, with a focus on understanding penalty calculations. Avoid costly mistakes that could potentially reduce your retirement income by thousands of dollars each month. Whether you’re planning for retirement or simply want to understand your DB plan better, this video will guide you through the key points to watch for.
#pension #canada #financialplanning
▼ CANTONESE YT CHANNEL :
/ @jacky%e5%8a%a0%e6%8b%...
▼ JOIN OUR PRIVATE FACEBOOK GROUP : / 570482730317382
▼ Willful Discount codes : 1DEGREE20
▼ Books / Tools I recommend
www.jackykuk.c...
▼ More Content
Watch more here:
👉Investment Tips & Trends Playlist: • Investment 2020 Trend ...
👉Real Estate Playlist: • Real Estates
SUBSCRIBE here: / jackykuk
▼ Reach Us
Instagram: / jacky.kuk
Website: www.jackykuk.com
Email: jacky.teaches.finance@gmail.com
All videos are royalty free videos from:
htttps://www.pexel.com
pixabay.com/vi...
www.videvo.net/
![[TH] 2024 PMSL SEA Finals D3 | Fall | รู้ผลทีมแชมป์ พร้อมตั๋วสู่ PMGC](http://i.ytimg.com/vi/7NxsN0Ch6vk/mqdefault.jpg)
Defined Benefit pension, everyone's dream. No matter which of these 3 plans you may have, consider yourself VERY lucky to have it.
I am 4 years away from collecting my defined benefit pension at rhe age of 55. My wife and I also get to keep my health benefit plan for life. Thanks to my my labour union for negotiating for my retirement. I will be set to make around the same amount with my bridege benefit after working for 30 years in my trade.
Awesome!
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either
RRSP is tax deferred combined with cpp which is also taxable, overall taxes post retirement increase. For 2024, the maximum monthly amount you could receive under CPP if you start your pension at age 65 is $1,364.60.
Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in.
Retirement planning is an important aspect of financial stability. It’s crucial to make informed decisions and seek expert advice.
How did you choose a reliable financial advisor? How do you assess their trustworthiness and competence?
Many people overlook the importance of advisors until emotional decisions lead to financial setbacks. I remember a few summers ago, during my lengthy divorce, when I needed substantial support to keep my business running. I researched and found this Monica Lisa Payne a highly qualified licensed advisor.
Very informative video, thank you!
Great video thanks!
@JackyKuk for the federal plan after 2013. If an Individual retires after 55, but doesn't start (defers) pension to 65!... would there be a loss of 50% on the annual amount??. Also, do you use any software application to look holistically at a client/couples tax rates (snap?)
If hes employed at 55 still then retires he doesnt get the 50% hit (still has to look at pensionable credit), yes snap is one of the tool i like to use
Military is still formula 1 I think also what about deferrals? I hear it wont be reduced for every year of service
I am not sure about that! Depends on the wording of penalty, here it says employment
Thank you for this great video 😊
I have a question if you have an answer: I did work for a company and participated in a defined contribution plan
I'm not in that company any longer and was offered to transfer it to RRSP account or leave it there
Wanted to know: can I use this money to buy a house if taken by RRSP?
I already have a house 10 years in
So I was wondering if I can buy another asset this way?
Thanks 👍😊
Hi there, if you lived in that house for last 4 years then no
@@JackyKuk thank you for your quick response
Not sure though I understand into why
It's 10 years I have a house bought with RRSP
My idea was to transfer my defined retirement plan to a RRSP in order to buy another asset through same process, the RRSP
Typo...penalty not penality
Oops!!
Delete the "financial advisor" spam messages all over the message section.