very lucky, mas mahirap sa mga pinoy like me n dumating sa canada at 40s kc yng naexperience mo n work sa pinas is mostly trash talaga at nasayang talaga oras kaya ang amswerte dito yng mga nauna ng dumating kc stable n talaga sila, yng ddating k dito at 40s n magstart k pa lang from working too hard para makautang ng bahay at kotse
I’m a retired here in Sacramento, California after 34 years in gov’t service, full retirement at the age of 55 Civil service retirement system (CSRS), my wife retired at 66 from Kaiser Permanent with full company pension and full SSS benefit enough to live comfortably. We have no mortgage, no car payment, we use credit card but it is paid in full. We nver touch our IRA and Roth IRA which is worth 7 figures and we were lucky that we invested in real estate long long time ago. I came over to US at the age of 21 with only $5 in my pocket and that $5 is now $5M. It is unbelivable but it can be done.
Wow congrats! That's our goal, to retire as millionaires and leave some $$ to our kid. Sa ngayon nasa $900K na networth namin, zero debt. Kaka 40 palang namin so projected aabot din kami 5m😊 we also started from zero, no inheritance both side, proud to say kung ano meron kami, we earned ourselves.
simple lang kung nagtrabaho ka nang matagal at hinawakan mong mabuti ang pera mo ay comfortable kang mabubuhay when you retire.Yung pension mo sa company pension isa canadian government.Syempre kung late ka nang dumating dito hindi ka na pwedeng magtrabaho nang matagal at syempre hindi na kalakihan ang pensyon mo...Law of physic yun.Ang nakalimutang banggitin nang ini interview mo ay ang healtu care benefit .At the age of 65yrs old libre nalahat ang medical at gamot.Mabait ang Canad pero hindi Charitable institution.Maraming nang yayaring problema sa mga Filipino ay dahil kasalanan din nila...sa sobrang husay nila.Ang sinabi nang isang tao ay hindi pwedeng maging totoo sa lahat Hindi pwedeng waysan ang gobyerno dito pero isa na sa pinamabait na bansa.Ako at ang asawa ko retire na 5 yrs ago. Sapat na yung natatanggap namin at nakakapagrip pa kami nang dalawang bese sa every year.SaPilipinas dapat siguraduhan mong milyunaryu ka pag tumanda ka pra may pang Hospital ka pag tumanda ka.Dito sa Canada hindi mo na pupublemahin dahil libre ang lahat pag nagkasakit ka..Basta sundan mo lang ang patakaran nang gobyerno hindi ka magkaka problema.Marami ka si sa ating mga kababayan and mahilig sa palulusot.Ang mother at father ko dumating sila Canada ni minsa n ay hindi naki pagtrabaho pero ang Candian government binibigya parin sila nang tig almost two thousand dollrs amt every month.Ang human rights dito ay first class.Sad to say and I hate to say marami sa ating kababaya dito kahit matagal na ay hindi wise and analytical thinker.Maraming namamatay para makapag migrate lang dito.Marami pa akong dapat sabihin...preo hanggang dito na lang. salamat
I am not sure with this. Sabi mo ni Minsan Hindi na work ang parents mo but then now they are receiving 2K per month, How? Kasi ang pension dito you usually contribute from the time you are working. They call this CPP and OAS. So how your parents get this 2K per month? If ever paki share mo nga para malaman din ng mga kapwa nating Pilipino. Salamat
@@loreliez3454 Ang sinabi ko ay almost 2k at hindi 2k.Ang mga parents ko ay almost 40 yrs na dito ni minsan hindi nakipagtrabaho baby sitting lang ang ginawa nila.Ang canadian gov gusti nya ya dahil nakakatulong sa mga parents na nagtatrabaho at nakakamenos ang canadian gov imbes na dadalhin sa mga daycare center na tangay din ang gov sa gastos sa bandang huli.Dahil dito sa ganyang sitwasyon in fairness sa mga magulang willing ang gov na magbibigay ng financial support sa mga magulang na nag ba babysitter lang.Ang hindi ko lang alam kung present pa ang ganitong benefits.
Been here for 30 years and I'm receiving CPP and OAS and paying $650 for rent, I don''t have credit cards to maintain, I eat healthy foods, and still have a lot of money for savings. Free hospitalization, drugs, dental for seniors. Ano pang gusto mo? Masyado lang kayong maluho sa buhay! Kung yong mga homeless nga nakaka-survive kayo pang kumikita ng $1,000 a month? DUH! Live a simple life!
@TedCruz_ocho_ocho anong gusto mo di magbayad ng tax at libre lahat ng govt?at least nagamit nga yng tax, sa pinas magbayad kng tax o hinde pag na ICU k magbayad k kagad nga halos 10m lahat ng kakilala mo uutangan mo
@TedCruz_ocho_ocho rich pinoy wag mo na iispin kasi rich na sila haha. Lahat taxpayer importante mataas income salary. Sa mga retired na sabi lang nila "free" pero nagbabayad naman sila ng tax before retirement at few percentage lng existing 65yrs old and above... Mostly working/taxpayer and not retired are using healthcare system dahil sa age range..
We need to hear more topics about this thank you so much for sharing your thoughts and ideas.. It is also good to discuss to family members in Canada not just the retirement plan but also the estate planning, topics on Probate, estate tax, etc which apply to those who bought property here in Canada, and owned other assets.
I am in my 5th year here in Canada and still in process of building wealth for me and my wife's retirement. We still few years to cover for our children's education and hopefully they can stand on their own 5-7 years from now. This video is really helpful and I am glad I had a chance to see it.
The biggest concern for retirees is healthcare no longer available outside Canada, but if you are badly ill, no free healthcare will save you other than extending your pain and sufferings
If you are only relying on your CPP, Old age pension and Guaranteed Income supplement, then expect that it is not sufficent for you to retire in Canada but big money when you retire in the Philippines
Says who? That's not true at all. Unless otherwise you are supporting other people. Ganyang-ganyan ang sinabi sa akin ng mga seniors na kare-retire lang - umuwi sa Pinas and after a few months hiyang-hiya dahil KINAIN ang sinabi nila - why? Nagkasakit at hindi daw libre ang gamot at pagpapagamot.
good conversations. we are normal couple and our strategy works. receiving pensions from both US/Canada help our retirements comfortable. bought real estates and hired a good advisor. my advice to my children is have a good plan while still young.
Hi! Ina, I'm retired here in the USA for 5yrs. now, and migrated here 40yrs+ ago. My suggestion to my ka-pinoy is start your retirement plan now./ I'm living comfortably , my retirement pension +SSS+401K is well enough for my life style until my dirt knapp. Thank You.
Regarding health. We should live healthy from day one. We tend to be abussive ,eat all you can, kaya asa tau sa health care. In the end, pag abusado sa katawan, no amount of money and excellent health care can save you. Sa dami n nga ng maysakit, tagal mabigyan ng appointment, kwento ng iba especially during covid, namatay sa ibang sakit dahil hind mkapag oa check up. Disiplina din sa sarili, time will come, ma overwhelm ang health care dn kayanin. Madami din medical malpractice. Kaya live healthy, to be sure.
As soon as one gets a job at 16 or 18, save money and invest. Start with 10% of income then increase the percentage up to 50% if you can as your pay increases. Invest bonuses, do not spend it. Do not inflate your lifestyle, live simply and focus spending on needs only. Accumulate assets, minimize liabilities. Diversify investments. Focus on financial freedom and early retirement. Think of the govt pension as a bonus only and not rely on it as the govt created the govt pension to supplement what you have planned and built on your own over the many years of hard work. Prepare to be a Wal-Mart greeter in your 60s, 70s or 80s if you do not plan your retirement. Those who believed in YOLO and spent every dollar are struggling now in retirement. Nasa huli lagi ang pagsisisi.
In total kung saan maunlad ang bansa, dun ok mamuhay, pagbutihin lng pra umayos buhay. On other side, upon retirement. Kung nasaan ang puso mo at san ka masaya, you have to decise. Grabe din lamig sa canada. The way I see, ung mga hind maganda ang work ang hind nkapag prepare sa retirement. At dami din mga palamunin sa pinas, kaya sagad at sakto.
Ang importante libre medical pag tumanda ka na. Kasi yun ang mabigat na gastusin sa pinas.. pray na lang kahit libre medical hwag din magkasakit.. madami discount seniors sa canada even housing there is cheaper housing.. importante din maging maayos ang buhay ng mga anak . Simple life in retiring is ok
May napapanood ako news documentary may downside ang free healthcare sa Canada, like antay ka ng months bago ma-check up ng family doctor kasi nga madami naka-queue for check-up. Kaya daw aside that benefit, bumbili pa din ang mga Canadians ng private insurance para mas mabilis sila matignan ng doctor.
Mag kakasakit ka dito sa Canada kasi Pension pa lang kulang ng pambayad ng renta mo, stress and mga matatanda dito you can still see them working. How about the groceries and utilities kulang talaga.
Good evening madam Ina, how are you and your family! Nice program! Sana magkaroon lahat ng mga pilipino ng interest to listen most specially sa ganitong topic! Very informative!
You are only saying that it’s better to retire in the Philippines because of the exchange rate of one’s hard earned dollars. But, if you are working in the Philippines all your life you better have millions of pesos saved for your retirement, and another million for your hospital and doctor bills in your senior years and even when you get sick anytime. Or else, you will die of a heart attack when you receive your hospital bill.
The goal is to retire debt free, and mortgage free, all we have to pay are bills. Dapat din may employer match from work for your retirement, hindi talaga sapat pension from the govt. Kung hindi naghulog sa retirement funds nung kabataan, 20s, 30, at 40s, kasi nag enjoy/yolo, yung power of compounding interest has been lost.
Congratulations, galing ng content. I myself will retire in 4 years and still in process how to deal with it. I leave now in Vancouver BC and will wait for some discussion with regards on retirement. Kudos to Manny for a good insights above retirement waiting for more, likewise to Ina to make this discussion possible ❤
Are you asking if CPP, OAS, GIS etc is enough to live on in canada. Hell noh. Do not depend on it. It's up to the individual to manage and build wealth while living in Canada. So that the option to live in the Philippines will be comfortable.
A Husband and wife couple friends of mine went from a seniors retirement residence Condo to the Nursing Home in Oshawa, Ontario, let me tell you, I would not want that to be my future of end of life, You are just a number to the PSWs who are OVERWORKED and the Nursing Home UNDERSTAFFED, my wife is also a RNwho worked in a LONG TERM CARE HOME.
Yup. Most of the staff at my Father's Senior Home had two to three jobs. One 50-yr old Filipina had three jobs because she was furiously saving up for retirement. She he said her hourly wage was low so she needed to work at three separate Senior Homes for 12-16 hours per day. Brutal schedule at her age
Just remember RRSP is a tax deferral scheme... Aside from the withholding tax when you withdraw, it also added as income. Depending on your income, you could push you into a higher tax bracket, which equates to higher taxes.
Kung saan ka komportableng mamuhay, it's your choice. Consider mo ang mga sumusunod sa Pilipinas at Canada sa larangan ng: 1. Politics, Political System 2. Health care program 3. Environment 4. Security/Safety 5. Infrastructure Projects 6. Food security 7. Education of children 8. Salaries, Wages, Taxes 9. Housing 10. Weather 11. Retirement Kailangan alamin muna ang lahat na ito kung balak mamuhay dito sa Canada o manatili sa Pilipinas.
Planning ahead for retirement is the key, the earlier the better. If you’re working in a company that has no pension plan, then you start your own pension plan, maximizing your RRSP contribution, TFSA , and if you can afford, buy a property, a condo or a house. CPP and OAS are not enough to sustain your needs when you retire.
The things you mentioned are possible before 2015. Everything had changed when our wako PM took over. He deliberately destroyed Canada so the govt can control everything. Slowly yet surely he will change to totalitarian form of govt.
Thank you so much for this infomative video, im 35 years old, and yes I work so hard for my kids pero I need also to think about us mag-asawa sa pag retire. What amazing wake up call for all Of us. Do something now at ng magkaroon ng plan at diskarte :)
He is very very right...housing is slashing almost 50%-60% of the income specially the current status of how Mr. Trudeau is demolishing Canada. The Canada I knew 20yrs ago is no longer the Canada now. For Ontario, if you are out 6mos ++ and coming back, your OHIP will be re-instated 3mos after. Dapat balik dito before 6mos.
Then do you think retiring in the Phil. is an option since whatever asset you have here is multiplied by 40? My brother-in-law had major illness back in the Phil. , in a span of 3 months his medical expenses was 14M & that was way back in 2009. He passed away in a few months, but had he survived longer, just cant imagine how much more would the family spend. Yes, there are medical insurance, but the older you are the higher the premium. Aside from this, there are limits to your coverage & pre existing illness may not be covered.
Very true, NOT ENOUGH with the high cost of living here in Vancouver, middle class family is not existing anymore, they're now considered in the poverty status, so what's more if you're already senior and retired from working. This is a very SAD REALITY here in Vancouver
RRSPS, TFSA, NHRPP, CPP, SAVINGS. No debt. All paid off. 6 COLD and long months Cannot stretch the dollar here. Cash flow better when 65y rather than earlier. Dont want the headaches of tenant. Dont wanna use home equity. Maxed out TFSA contributions Maybe do dividend paying funds
Hindi po totoo na if you stay more than six months sa Philippines maeswala na ang pension. Puede po mag retire outside Canada permanently but babawasan po ng 25 percent na withholding tax. If you live and work for more than 20 years when you reach your retirement age po
Retirement is not an age, it is a number. You need to have retirement savings, ang pension ay para hindi ka maging pulubi/homeless. You need to invest 15-25% of your income for 20-30 years. Kung matanda ka na nagsimula mag invest, you need to invest 30 plus percent ng sweldo mo. Keyword, invest in retirement. Hiwalay pa dyan ang percent ng normal na savings account na pang ipon sa pangbili ng bahay, kotse at ibang luho etc.
Pension in ANY country is not meant to replace one’s income in retirement. In Canada, it is meant to AUGMENT and HELP people. In fact, the Canadian government created the CPP and the OAS for this reason. They studied peoples’ financial status in retirement and saw that they are NOT SAVING enough in their working years, thus, the CPP and the OAS were created. Note that there are TWO sources of pension for working Canadians unlike other countries. If one is not working there’s still one source of pension after 10 years of residency which is still a blessing coz you never worked and never contributed to the country’s economy.
you can also check pension plans offered by your company, mostly crown corporation companies provide those stuff. So you will get pension from the gov't and also from your company when you retired.
first of all, you need to know how much you spend on a mnthly basis. Then, compute how much your income is. For retirees, and for some who has planned their retirement... the income will be coming from some or all of these: cpp, oas, gis, rrsp (or rrif), lira (or lif), tfsa, stock dividends etc. From there, you can calculate how much to withdraw from rrsp, lira and tfsa etc. The important thing here is to see to it that you minimize your taxable income (rrsp, lira,cpp,dividends ) so that you get the as much amount in gis.
Its best to work in a Govt. agency where the pay is high & plenty of benefits. 4 members of my family works for the Govt., all except 1 are earning in the 6 digit figure. My son showed me the breakdown of his expected pension benefits for his agency by the time he retires when he reaches the age of 60. Its was about 5,000 not counting yet the CPP of about 1,300. Both he & his wife are working in the same branch of the Govt.
kailangan may separate retirement savings ka kahit dito sa USA d sapat ang SSS kahit sagad na 3K + a month maganda lang dito pedi kang mag retire sa Pinas full time d apektado SSS collection mo kung SSS lng ang source ng income mo.
CPP and OAS is not intended to fully support your retirement. It is very important to have a PLAN for Retirement. If you immigrated to Canada in you late 30s or 40s, you MUST have a plan. If you work for a company that has an RRSP matching, take the maximum matching. If you are the few that has a company pension plan, then do your best to stay.
Seniors retiring in the philippines are covered by fil health medical. No need to worry about health coverage. Seniors are covered. If you only have 1300 to 2000 dollars pension, then you are Better off arbitraging the pension by living in the philippines. Seniors will be living their best years in the philippines instead Of staying in a senior citizen home anywhere in Canada.
Start saving for your retirement when you work in Canada. If you're thinking of retiring back to your home country after retiring it's doubtful if you'll bring home the Canada pension. Canada Pension Plan is your contribution while you're still working. The OAS (Old Age Security) is financial benefit from the government when you reach 65 yrs. The CPP and OAS amount you're talking about is actually for the people who have live in Canada for 40 yrs. however, if you are short of residency or work of 40 yrs you may not get the amount. I am a retiree living in Canada.
Different taste ang mga pinoy, i mean, kanya kanyang diskarte, yong iba ay gusto sa pinas dahil yon ang gusto niya, yong iba naman ay dito sa Canada, so hati ang opinion nila, hndi kasi natin hawak ang isipan nila.kaya may kanya kanyang dahilan tayo kung bakit ibat iba ang ating mga desisyon sa buhay. yong topic po ninyo ay guide line para sa lahat na mga retired kabayan at mag reretire pa.makakatulong din itong mga topic ninyo para naman meron silang idea kung anong kahihinat-an kung sakaling dumating na sila sa yugtong iyon. alam ba ninyo kung bakit ? Swertihan lang. kumbaga ay parang sugal. pero lamang ang talo mo dito. Una, ang kalaban natin ay sakit. may pera o wala, kapag tinamaan ka nito. everything is gone. hindi naman habang buhay tayo ay masigla. depende din sa tao kung itoy maalaga sa sarili. About govt. pension ay talagang hindi sapat yan. sa mahal na ng mga bilihin ngayon. bago ka makaipon ng pamasahe mo sa pinas ay bilang ka ng mga buwan. at least kahit papaano ay may pension, kaya diskartehan na lang kung paano ito pagkakasyahin, kwidaw, dapat ay free of debt ka, para maluwag lagi ang iyong paghinga... So thank you po sa inyo Ina at Mang Manny.God Bless po.
i guess its a good topic in spot pinoy on how to build retirement portpolio as early as possible otherwise the dream of most kabayans for a good future will fail.
Why is the age pension rate ($900 a month) in Canada too small compare to Australia? Im a pensioner in Australia getting about $2000 dollar a month which is about 1,800 Canadian dollars. Cost of living is almost the same! I get free public transport, bills have rebates, have so many discounts, half council rates! doctors are free. I guess Aussie pensioners are luckier!
One thing about Senior Homes. Due to large number of Baby Boomers retiring, you'd be lucky to get your own room, especially in BC. The Senior Home my Father stayed at in Vancouver had two to three beds per room. Lastly, staying in a Senior Home can get quite depressing. I saw the way my Father live his last five years in a Senior Home and he would have preferred to die in his own house. And if you end up in a Senior Home, pray that you get Filipino attendants as I've seen the way non-Filipino staff treat the Seniors, especially at night and early mornings when no one is around. I vowed I'll never end up in a Senior Home but unfortunately in Canada, most Seniors end up there because their kids are too busy working and there's no katulongs to help out.
@TedCruz_ocho_ocho That's not possible if a Senior requires constant medical care at home. My friend put up his Mother at Senior home because she collapsed several times in their bathroom and bedroom while they were at work. His Mother forgot to take her meds. In a lot of cases, Social Workers decide if a Senior needs to be admitted to a Home because some houses won't have the equipment to deal with medical needs. A wheelchair bound Senior alone requires homeowner to build a special ramp at the entrance which is costly.
@TedCruz_ocho_ocho So how much cash in retirement are you talking about as most Canadians retire with only $5K or $6K household monthly income with CPP and OAS and that's pretax
Senior Homes are subsidized by the Gov't, I'm not sure if it's provincial or Federal or both. My Father had a $2,000 retirement income, $1,500 after tax which went mostly to the fees of his Senior Home in Vancouver. The Gov't paid 70% of the cost of the Senior Home of $4,750 a month.
Miss ina through my exprience you must work 30 years to get full cpp pension that is 700 a month and old pension it depends how long you leave in canada 40 years leaving here you get 680 din per month
Retirement is an outdated concept from the Industrial era where people worked in one stable job and their house paid off by one income by the time they reach 65. Very few people get to retire in the modern era and most will work until they die, and that's just a fact of life.
yes thats true, if you move to Canada at the 40 and up. most likely is you will be working until you die. but if you decide to retire in the Phil then you better buy health insurance there.
atleast you have to have worked 39 years or more in canada to get a close to decent SSS and if not good luck sa inyo or sa pinas mag retire para medyo malaki ang pera mo.
His advises are commendable like retirement with kids that helps there in Canada so parents should be nice and hands on understandable to kids and have them finish a good college /universities also buy and sell of houses youll be prepared with cash flow
Very expensive to live in Canada and retirement money is not enough to have a good living that's why many retireress are force to work until they are able..
Bakit aasa sa pension ,nag work ka dapat mag ipon para sa retirement,bonus na lang yong pension.Buti nga at binigyan ka ng gobyerno ng pension bukod pa yong na I contribute mo noong nag wowork ka,ma kukuha mong lahat yon
@@inanutshellvlog ok lng ako..eto retired na march last year..kaya nakakarelate sa topic..60nko sa July dalawang kapatid Kong babae andyan sa Canada hindi ko lng Alam exact address..kumusta kn?ingat palagi..
This is the kind of discussion i’ve been looking for. Im already in my mid 40s and a newbie in Canada. This is so insightful. Thank you for sharing!
Thanks too! I have another one coming up in a couple of days-- how to prep for retirement for those who arrive in Canada in their 40s.
Thank you! Looking forward to watch it.
Came to Canada from Pinas at 22. I'm 35 and have hit financial independence! Everything is possible!
Wow nice!
very lucky, mas mahirap sa mga pinoy like me n dumating sa canada at 40s kc yng naexperience mo n work sa pinas is mostly trash talaga at nasayang talaga oras kaya ang amswerte dito yng mga nauna ng dumating kc stable n talaga sila, yng ddating k dito at 40s n magstart k pa lang from working too hard para makautang ng bahay at kotse
Istrongly agree to you.The problem with newcomer they wanted too much and too fast.And also too critical .
@@1954fallen Yes. The negativity of social media amplifies it too
@@1954fallen Newcomers want a condo, a car etc. right away, they end of going back to Pinas desperate.
I’m a retired here in Sacramento, California after 34 years in gov’t service, full retirement at the age of 55 Civil service retirement system (CSRS), my wife retired at 66 from Kaiser Permanent with full company pension and full SSS benefit enough to live comfortably. We have no mortgage, no car payment, we use credit card but it is paid in full. We nver touch our IRA and Roth IRA which is worth 7 figures and we were lucky that we invested in real estate long long time ago. I came over to US at the age of 21 with only $5 in my pocket and that $5 is now $5M. It is unbelivable but it can be done.
Wow, great success story
Wow congrats! That's our goal, to retire as millionaires and leave some $$ to our kid. Sa ngayon nasa $900K na networth namin, zero debt. Kaka 40 palang namin so projected aabot din kami 5m😊 we also started from zero, no inheritance both side, proud to say kung ano meron kami, we earned ourselves.
@@6ix_Strings $900K net worth is a good amount at your age. Good luck going forward
Wow!
Where is your location Sir,because I am from Ontario…
simple lang kung nagtrabaho ka nang matagal at hinawakan mong mabuti ang pera mo ay comfortable kang mabubuhay when you retire.Yung pension mo sa company pension isa canadian government.Syempre kung late ka nang dumating dito hindi ka na pwedeng magtrabaho nang matagal at syempre hindi na kalakihan ang pensyon mo...Law of physic yun.Ang nakalimutang banggitin nang ini interview mo ay ang healtu care benefit .At the age of 65yrs old libre nalahat ang medical at gamot.Mabait ang Canad pero hindi Charitable institution.Maraming nang yayaring problema sa mga Filipino ay dahil kasalanan din nila...sa sobrang husay nila.Ang sinabi nang isang tao ay hindi pwedeng maging totoo sa lahat Hindi pwedeng waysan ang gobyerno dito pero isa na sa pinamabait na bansa.Ako at ang asawa ko retire na 5 yrs ago. Sapat na yung natatanggap namin at nakakapagrip pa kami nang dalawang bese sa every year.SaPilipinas dapat siguraduhan mong milyunaryu ka pag tumanda ka pra may pang Hospital ka pag tumanda ka.Dito sa Canada hindi mo na pupublemahin dahil libre ang lahat pag nagkasakit ka..Basta sundan mo lang ang patakaran nang gobyerno hindi ka magkaka problema.Marami ka si sa ating mga kababayan and mahilig sa palulusot.Ang mother at father ko dumating sila Canada ni minsa n ay hindi naki pagtrabaho pero ang Candian government binibigya parin sila nang tig almost two thousand dollrs amt every month.Ang human rights dito ay first class.Sad to say and I hate to say marami sa ating kababaya dito kahit matagal na ay hindi wise and analytical thinker.Maraming namamatay para makapag migrate lang dito.Marami pa akong dapat sabihin...preo hanggang dito na lang. salamat
ask ko lang po yng 2kcad monthly na narreceive ng parents nyo sa Canada, anong age po ng parents nyo nkarating sa Canada?
agree with you
I am not sure with this. Sabi mo ni Minsan Hindi na work ang parents mo but then now they are receiving 2K per month, How? Kasi ang pension dito you usually contribute from the time you are working. They call this CPP and OAS. So how your parents get this 2K per month? If ever paki share mo nga para malaman din ng mga kapwa nating Pilipino. Salamat
Sorry mali yan walang 2k na matatanggap here in Canada kapag di ka nakatrabaho , max nga 1800
@@loreliez3454 Ang sinabi ko ay almost 2k at hindi 2k.Ang mga parents ko ay almost 40 yrs na dito ni minsan hindi nakipagtrabaho baby sitting lang ang ginawa nila.Ang canadian gov gusti nya ya dahil nakakatulong sa mga parents na nagtatrabaho at nakakamenos ang canadian gov imbes na dadalhin sa mga daycare center na tangay din ang gov sa gastos sa bandang huli.Dahil dito sa ganyang sitwasyon in fairness sa mga magulang willing ang gov na magbibigay ng financial support sa mga magulang na nag ba babysitter lang.Ang hindi ko lang alam kung present pa ang ganitong benefits.
Been here for 30 years and I'm receiving CPP and OAS and paying $650 for rent, I don''t have credit cards to maintain, I eat healthy foods, and still have a lot of money for savings. Free hospitalization, drugs, dental for seniors. Ano pang gusto mo? Masyado lang kayong maluho sa buhay! Kung yong mga homeless nga nakaka-survive kayo pang kumikita ng $1,000 a month? DUH! Live a simple life!
@TedCruz_ocho_ocho anong gusto mo di magbayad ng tax at libre lahat ng govt?at least nagamit nga yng tax, sa pinas magbayad kng tax o hinde pag na ICU k magbayad k kagad nga halos 10m lahat ng kakilala mo uutangan mo
@TedCruz_ocho_ocho rich pinoy wag mo na iispin kasi rich na sila haha. Lahat taxpayer importante mataas income salary. Sa mga retired na sabi lang nila "free" pero nagbabayad naman sila ng tax before retirement at few percentage lng existing 65yrs old and above... Mostly working/taxpayer and not retired are using healthcare system dahil sa age range..
@TedCruz_ocho_ocho nagdurusa pala mga richy? ok lang magdusa basta richy pa ren
Where u leave ? Nothing 650 is for only tent hahaha
part-time job na minimum wage.lang yata ang $1k a month
Hi Ina and Manny, thank you for this episode. Looking forward to the seminar. Kindly share the invitation.
This is really helpful Ms. Ina. Thanks for covering this topic. I will wait for the story of Manny and his journey in Canada.
Yes! Hopefully next week! Thank you
We need to hear more topics about this thank you so much for sharing your thoughts and ideas.. It is also good to discuss to family members in Canada not just the retirement plan but also the estate planning, topics on Probate, estate tax, etc which apply to those who bought property here in Canada, and owned other assets.
Thank you, will consider! Have to admit, kulang din po ang kaalaman ko tungkol sa mga isyung yan. Hehe
I am in my 5th year here in Canada and still in process of building wealth for me and my wife's retirement. We still few years to cover for our children's education and hopefully they can stand on their own 5-7 years from now. This video is really helpful and I am glad I had a chance to see it.
@@ronaldodumlao4202 ❤️❤️❤️
The biggest concern for retirees is healthcare no longer available outside Canada, but if you are badly ill, no free healthcare will save you other than extending your pain and sufferings
Count me in po for the session with Mr Manny.
Very good episode. Retirement planning is key to have a good quality of life even after working.
If you are only relying on your CPP, Old age pension and Guaranteed Income supplement, then expect that it is not sufficent for you to retire in Canada but big money when you retire in the Philippines
Says who? That's not true at all. Unless otherwise you are supporting other people. Ganyang-ganyan ang sinabi sa akin ng mga seniors na kare-retire lang - umuwi sa Pinas and after a few months hiyang-hiya dahil KINAIN ang sinabi nila - why? Nagkasakit at hindi daw libre ang gamot at pagpapagamot.
can you afford to get sick in the Phil?
If you retired po sa Philippines hindi po kayo makakatanggap ng GIS
good conversations. we are normal couple and our strategy works. receiving pensions from both US/Canada help our retirements comfortable. bought real estates and hired a good advisor. my advice to my children is have a good plan while still young.
so 2 ang tax money! 🤭
@@jam3473
tama po😭
Hi! Ina, I'm retired here in the USA for 5yrs. now, and migrated here 40yrs+ ago. My suggestion to my ka-pinoy is start your retirement plan now./ I'm living comfortably , my retirement pension +SSS+401K is well enough for my life style until my dirt knapp. Thank You.
Thanks for sharing!!
Regarding health. We should live healthy from day one. We tend to be abussive ,eat all you can, kaya asa tau sa health care. In the end, pag abusado sa katawan, no amount of money and excellent health care can save you. Sa dami n nga ng maysakit, tagal mabigyan ng appointment, kwento ng iba especially during covid, namatay sa ibang sakit dahil hind mkapag oa check up. Disiplina din sa sarili, time will come, ma overwhelm ang health care dn kayanin. Madami din medical malpractice. Kaya live healthy, to be sure.
As soon as one gets a job at 16 or 18, save money and invest. Start with 10% of income then increase the percentage up to 50% if you can as your pay increases. Invest bonuses, do not spend it. Do not inflate your lifestyle, live simply and focus spending on needs only. Accumulate assets, minimize liabilities.
Diversify investments. Focus on financial freedom and early retirement. Think of the govt pension as a bonus only and not rely on it as the govt created the govt pension to supplement what you have planned and built on your own over the many years of hard work. Prepare to be a Wal-Mart greeter in your 60s, 70s or 80s if you do not plan your retirement. Those who believed in YOLO and spent every dollar are struggling now in retirement. Nasa huli lagi ang pagsisisi.
Unfortunately, there are many people that graduated from Joe Louis Financial University
@@robocop581 👍🤣
In total kung saan maunlad ang bansa, dun ok mamuhay, pagbutihin lng pra umayos buhay. On other side, upon retirement. Kung nasaan ang puso mo at san ka masaya, you have to decise. Grabe din lamig sa canada. The way I see, ung mga hind maganda ang work ang hind nkapag prepare sa retirement. At dami din mga palamunin sa pinas, kaya sagad at sakto.
Ang importante libre medical pag tumanda ka na. Kasi yun ang mabigat na gastusin sa pinas.. pray na lang kahit libre medical hwag din magkasakit.. madami discount seniors sa canada even housing there is cheaper housing.. importante din maging maayos ang buhay ng mga anak . Simple life in retiring is ok
May napapanood ako news documentary may downside ang free healthcare sa Canada, like antay ka ng months bago ma-check up ng family doctor kasi nga madami naka-queue for check-up. Kaya daw aside that benefit, bumbili pa din ang mga Canadians ng private insurance para mas mabilis sila matignan ng doctor.
Mag kakasakit ka dito sa Canada kasi Pension pa lang kulang ng pambayad ng renta mo, stress and mga matatanda dito you can still see them working. How about the groceries and utilities kulang talaga.
The key is plan your future in the PHILIPPINES and Canada. Continue paying SSS and get Life insurance same thing here in Canada.
Life insurance is d_mb idea. You're paying for the premium, but it wouldn't grow, and sure you get it once you tegok but not you.
there is a life insurance that will accumulate cash value, Meron Kasi taking klase ng life insurance Ang sinasabi nyo Po is term insurance
Good evening madam Ina, how are you and your family! Nice program! Sana magkaroon lahat ng mga pilipino ng interest to listen most specially sa ganitong topic! Very informative!
Thank you po!
You are only saying that it’s better to retire in the Philippines because of the exchange rate of one’s hard earned dollars. But, if you are working in the Philippines all your life you better have millions of pesos saved for your retirement, and another million for your hospital and doctor bills in your senior years and even when you get sick anytime. Or else, you will die of a heart attack when you receive your hospital bill.
The goal is to retire debt free, and mortgage free, all we have to pay are bills. Dapat din may employer match from work for your retirement, hindi talaga sapat pension from the govt. Kung hindi naghulog sa retirement funds nung kabataan, 20s, 30, at 40s, kasi nag enjoy/yolo, yung power of compounding interest has been lost.
Agree!
Congratulations, galing ng content. I myself will retire in 4 years and still in process how to deal with it. I leave now in Vancouver BC and will wait for some discussion with regards on retirement. Kudos to Manny for a good insights above retirement waiting for more, likewise to Ina to make this discussion possible ❤
Are you asking if CPP, OAS, GIS etc is enough to live on in canada. Hell noh. Do not depend on it. It's up to the individual to manage and build wealth while living in Canada.
So that the option to live in the Philippines will be comfortable.
A Husband and wife couple friends of mine went from a seniors retirement residence Condo to the Nursing Home in Oshawa, Ontario, let me tell you, I would not want that to be my future of end of life, You are just a number to the PSWs who are OVERWORKED and the Nursing Home UNDERSTAFFED, my wife is also a RNwho worked in a
LONG TERM CARE HOME.
Yup. Most of the staff at my Father's Senior Home had two to three jobs. One 50-yr old Filipina had three jobs because she was furiously saving up for retirement. She he said her hourly wage was low so she needed to work at three separate Senior Homes for 12-16 hours per day. Brutal schedule at her age
Just remember RRSP is a tax deferral scheme... Aside from the withholding tax when you withdraw, it also added as income. Depending on your income, you could push you into a higher tax bracket, which equates to higher taxes.
Kung saan ka komportableng mamuhay, it's your choice. Consider mo ang mga sumusunod sa Pilipinas at Canada sa larangan ng:
1. Politics, Political System
2. Health care program
3. Environment
4. Security/Safety
5. Infrastructure Projects
6. Food security
7. Education of children
8. Salaries, Wages, Taxes
9. Housing
10. Weather
11. Retirement
Kailangan alamin muna ang lahat na ito kung balak mamuhay dito sa Canada o manatili sa Pilipinas.
Planning ahead for retirement is the key, the earlier the better. If you’re working in a company that has no pension plan, then you start your own pension plan, maximizing your RRSP contribution, TFSA , and if you can afford, buy a property, a condo or a house. CPP and OAS are not enough to sustain your needs when you retire.
The things you mentioned are possible before 2015. Everything had changed when our wako PM took over. He deliberately destroyed Canada so the govt can control everything. Slowly yet surely he will change to totalitarian form of govt.
Thank you so much for this infomative video, im 35 years old, and yes I work so hard for my kids pero I need also to think about us mag-asawa sa pag retire. What amazing wake up call for all
Of us. Do something now at ng magkaroon ng plan at diskarte :)
Thanks gary!!
He is very very right...housing is slashing almost 50%-60% of the income specially the current status of how Mr. Trudeau is demolishing Canada. The Canada I knew 20yrs ago is no longer the Canada now. For Ontario, if you are out 6mos ++ and coming back, your OHIP will be re-instated 3mos after. Dapat balik dito before 6mos.
Then do you think retiring in the Phil. is an option since whatever asset you have here is multiplied by 40?
My brother-in-law had major illness back in the Phil. , in a span of 3 months his medical expenses was 14M & that was way back in 2009. He passed away in a few months, but had he survived longer, just cant imagine how much more would the family spend. Yes, there are medical insurance, but the older you are the higher the premium. Aside from this, there are limits to your coverage & pre existing illness may not be covered.
Very true, NOT ENOUGH with the high cost of living here in Vancouver, middle class family is not existing anymore, they're now considered in the poverty status, so what's more if you're already senior and retired from working. This is a very SAD REALITY here in Vancouver
in Canada, you get CPP, OAS+Supplement, GST (quarterly), Trillium Benefit . In Phil., you get only SSS Pension if you contributed otherwise nada.
RRSPS, TFSA, NHRPP, CPP, SAVINGS.
No debt. All paid off.
6 COLD and long months
Cannot stretch the dollar here.
Cash flow better when 65y rather than earlier.
Dont want the headaches of tenant.
Dont wanna use home equity.
Maxed out TFSA contributions
Maybe do dividend paying funds
It's true all what mr manny say
You should prepare for your retirement.save and don't spend what not important.
Thank you Ms. Ina, if you can discuss also about the insurance plan, esp. insurance retirement plan, RRSP etc. the pros and cons.
Hindi po totoo na if you stay more than six months sa Philippines maeswala na ang pension. Puede po mag retire outside Canada permanently but babawasan po ng 25 percent na withholding tax. If you live and work for more than 20 years when you reach your retirement age po
Retirement is not an age, it is a number.
You need to have retirement savings, ang pension ay para hindi ka maging pulubi/homeless.
You need to invest 15-25% of your income for 20-30 years. Kung matanda ka na nagsimula mag invest, you need to invest 30 plus percent ng sweldo mo.
Keyword, invest in retirement. Hiwalay pa dyan ang percent ng normal na savings account na pang ipon sa pangbili ng bahay, kotse at ibang luho etc.
Thanks for this!
Pension in ANY country is not meant to replace one’s income in retirement. In Canada, it is meant to AUGMENT and HELP people. In fact, the Canadian government created the CPP and the OAS for this reason. They studied peoples’ financial status in retirement and saw that they are NOT SAVING enough in their working years, thus, the CPP and the OAS were created. Note that there are TWO sources of pension for working Canadians unlike other countries. If one is not working there’s still one source of pension after 10 years of residency which is still a blessing coz you never worked and never contributed to the country’s economy.
you can also check pension plans offered by your company, mostly crown corporation companies provide those stuff. So you will get pension from the gov't and also from your company when you retired.
first of all, you need to know how much you spend on a mnthly basis. Then, compute how much your income is. For retirees, and for some who has planned their retirement... the income will be coming from some or all of these: cpp, oas, gis, rrsp (or rrif), lira (or lif), tfsa, stock dividends etc. From there, you can calculate how much to withdraw from rrsp, lira and tfsa etc. The important thing here is to see to it that you minimize your taxable income (rrsp, lira,cpp,dividends ) so that you get the as much amount in gis.
Its best to work in a Govt. agency where the pay is high & plenty of benefits. 4 members of my family works for the Govt., all except 1 are earning in the 6 digit figure. My son showed me the breakdown of his expected pension benefits for his agency by the time he retires when he reaches the age of 60. Its was about 5,000 not counting yet the CPP of about 1,300. Both he & his wife are working in the same branch of the Govt.
kailangan may separate retirement savings ka kahit dito sa USA d sapat ang SSS kahit sagad na 3K + a month maganda lang dito pedi kang mag retire sa Pinas full time d apektado SSS collection mo kung SSS lng ang source ng income mo.
Thank you for this Ms. Ina. Very informative and very timely lalo na sa mga tulad ko na in their early 40s.
Ako rin malapit lapit na! Hehe
Me too..wanna hear more of his wisdom on retiring here.
CPP and OAS is not intended to fully support your retirement. It is very important to have a PLAN for Retirement. If you immigrated to Canada in you late 30s or 40s, you MUST have a plan. If you work for a company that has an RRSP matching, take the maximum matching. If you are the few that has a company pension plan, then do your best to stay.
Yes! Thanks for this. ❤️
Seniors retiring in the philippines are covered by fil health medical.
No need to worry about health coverage. Seniors are covered.
If you only have 1300 to 2000 dollars pension, then you are
Better off arbitraging the pension by living in the philippines.
Seniors will be living their best years in the philippines instead
Of staying in a senior citizen home anywhere in Canada.
Start saving for your retirement when you work in Canada. If you're thinking of retiring back to your home country after retiring it's doubtful if you'll bring home the Canada pension. Canada Pension Plan is your contribution while you're still working. The OAS (Old Age Security) is financial benefit from the government when you reach 65 yrs. The CPP and OAS amount you're talking about is actually for the people who have live in Canada for 40 yrs. however, if you are short of residency or work of 40 yrs you may not get the amount. I am a retiree living in Canada.
Maximum OAS po yung makukuha ninyu if you live n work in Canada for 40 yrs
Which I think is around $700/monthly
Less than 40yrs
Percentage lng
Sana po ma'am ina, mas mahaba ang interview, napaka informative po kasi ng topic na yan....salamat po.
CPP & OAS is meant to supplement one’s income and not to fund a lifestyle you want.
Dapat mag invest ng bahay. Sa affordable province like Alberta cheaper housing affordable groceries, lots of industrial work
Different taste ang mga pinoy, i mean, kanya kanyang diskarte, yong iba ay gusto sa pinas dahil yon ang gusto niya, yong iba naman ay dito sa Canada, so hati ang opinion nila, hndi kasi natin hawak ang isipan nila.kaya may kanya kanyang dahilan tayo kung bakit ibat iba ang ating mga desisyon sa buhay. yong topic po ninyo ay guide line para sa lahat na mga retired kabayan at mag reretire pa.makakatulong din itong mga topic ninyo para naman meron silang idea kung anong kahihinat-an kung sakaling dumating na sila sa yugtong iyon. alam ba ninyo kung bakit ? Swertihan lang. kumbaga ay parang sugal. pero lamang ang talo mo dito. Una, ang kalaban natin ay sakit. may pera o wala, kapag tinamaan ka nito. everything is gone. hindi naman habang buhay tayo ay masigla. depende din sa tao kung itoy maalaga sa sarili. About govt. pension ay talagang hindi sapat yan. sa mahal na ng mga bilihin ngayon. bago ka makaipon ng pamasahe mo sa pinas ay bilang ka ng mga buwan. at least kahit papaano ay may pension, kaya diskartehan na lang kung paano ito pagkakasyahin, kwidaw, dapat ay free of debt ka, para maluwag lagi ang iyong paghinga... So thank you po sa inyo Ina at Mang Manny.God Bless po.
Very informative 👏🏻
👍🏻❤️👍🏻❤️
i guess its a good topic in spot pinoy on how to build retirement portpolio as early as possible otherwise the dream of most kabayans for a good future will fail.
Present!
If retirees move to the Philippines would their pensions be remitted to the Philippines ?
yes
Why is the age pension rate ($900 a month) in Canada too small compare to Australia? Im a pensioner in Australia getting about $2000 dollar a month which is about 1,800 Canadian dollars.
Cost of living is almost the same! I get free public transport, bills have rebates, have so many discounts, half council rates! doctors are free. I guess Aussie pensioners are luckier!
One thing about Senior Homes. Due to large number of Baby Boomers retiring, you'd be lucky to get your own room, especially in BC. The Senior Home my Father stayed at in Vancouver had two to three beds per room. Lastly, staying in a Senior Home can get quite depressing. I saw the way my Father live his last five years in a Senior Home and he would have preferred to die in his own house. And if you end up in a Senior Home, pray that you get Filipino attendants as I've seen the way non-Filipino staff treat the Seniors, especially at night and early mornings when no one is around. I vowed I'll never end up in a Senior Home but unfortunately in Canada, most Seniors end up there because their kids are too busy working and there's no katulongs to help out.
@TedCruz_ocho_ocho That's not possible if a Senior requires constant medical care at home. My friend put up his Mother at Senior home because she collapsed several times in their bathroom and bedroom while they were at work. His Mother forgot to take her meds. In a lot of cases, Social Workers decide if a Senior needs to be admitted to a Home because some houses won't have the equipment to deal with medical needs. A wheelchair bound Senior alone requires homeowner to build a special ramp at the entrance which is costly.
Oh wow. Thanks for this input. Definitely something to consider too
@TedCruz_ocho_ocho So how much cash in retirement are you talking about as most Canadians retire with only $5K or $6K household monthly income with CPP and OAS and that's pretax
Unfortunately this is true.
Senior Homes are subsidized by the Gov't, I'm not sure if it's provincial or Federal or both. My Father had a $2,000 retirement income, $1,500 after tax which went mostly to the fees of his Senior Home in Vancouver. The Gov't paid 70% of the cost of the Senior Home of $4,750 a month.
ang baba pla ng pension jan sa canada😢
@@morita0827My Dad was a mailroom clerk at a bank so his salary was very low
Retire in the philippines. Sabi nga ng isang homeless sa usa pagdating nya sa pinas he can afford a lot including a wife
Miss ina through my exprience you must work 30 years to get full cpp pension that is 700 a month and old pension it depends how long you leave in canada 40 years leaving here you get 680 din per month
Retirement is an outdated concept from the Industrial era where people worked in one stable job and their house paid off by one income by the time they reach 65.
Very few people get to retire in the modern era and most will work until they die, and that's just a fact of life.
wala bang like MP2 program ng PAGIBIG dyan sa Canada?
TFSA{GIC}
Ms. Ina, bitin po ung episode na ito... pwede po ba i-guest nio cia ulit? I'm interested in retirement info & process to enjoy it when I retire, tnx
yes thats true, if you move to Canada at the 40 and up. most likely is you will be working until you die.
but if you decide to retire in the Phil then you better buy health insurance there.
Mapapaisip ka talaga sa future mo, kahit nandito sa Pinas, Salamat po!
Ms Ina please let us know kung May workshop scheduled na po
atleast you have to have worked 39 years or more in canada to get a close to decent SSS and if not good luck sa inyo or sa pinas mag retire para medyo malaki ang pera mo.
Ina I'm here in Canada can you reach me,so I can share some of my experience as a pensioner here in Canada,
I would like to attend sir Manny’s session
Pinaka maganda parin ang US pag nag retire ka ma uuwi mo pention mga pinoy sa canada hindi matangap na napaka pangit at worst sa canada 😂
His advises are commendable like retirement with kids that helps there in Canada so parents should be nice and hands on understandable to kids and have them finish a good college /universities also buy and sell of houses youll be prepared with cash flow
Very expensive to live in Canada and retirement money is not enough to have a good living that's why many retireress are force to work until they are able..
I am in the US for 34 years, I want to retire in the Philippines. is not good to retire in the US.
mag apply kayo dual citizenship. umuwi ng pinas mlki n yan 1 to 2k cad
Kaso Hinde Madadala Sa Pilipinas Mga Naipundar Dyan Sa Huli Kapag Namatay Or Nagkasakit Sa Pilipinas Rin Uuwi Talaga . . .
Good morning Ina sana mag maroon k rin ng topic sa health insurance na magamit sa pinas .
Bakit aasa sa pension ,nag work ka dapat mag ipon para sa retirement,bonus na lang yong pension.Buti nga at binigyan ka ng gobyerno ng pension bukod pa yong na I contribute mo noong nag wowork ka,ma kukuha mong lahat yon
Sorry it's better to work cos 2xa month get pay, but ssa,only one time to coll3ct
Sir information session nyo dapat weekend kasi my work din sila hindi weekdays
Pwede din po ba syang mag-guest sa spot pinoy? :)
Nabanggit po ba ni Mang Manny kung anu full name niya saka contact details niya saka yung consultant company na kinabibilangan niya?
May NDA po sya with the company kaya po he was careful not to share much about it po. 😊
@@inanutshellvlog Understood. In a way, maselan din pala work niya anu?😧
I'm newcomer, I'm interested to attend on having workshop.
Magastos pala mag-retire sa Canada.😢
Enjoying Canada? Why did he leave? Lol. Ultimately, wherever you are, if you're happy and have peaceful living.
good morning from Phil's.kumusta na?kuya Remie papa
Kuya Remie!!! Kamusta
@@inanutshellvlog ok lng ako..eto retired na march last year..kaya nakakarelate sa topic..60nko sa July
dalawang kapatid Kong babae andyan sa Canada hindi ko lng Alam exact address..kumusta kn?ingat palagi..
😊
Interested
How about the OAS...
its a choice kng kulang ang retirement pay mo jusme kailangan p b imemorize yan😂
Kaya nga halos lahat Ng Pinoy umuuwi sa pinas PAG retire na sila.