My Neighbour Made Me Richer Over One Beer : The Saturday Weekend Review #156

FINDING RICHES WHERE I NEVER EXPECTED I WOULD…   I’m Richer because my bank account says I’m rich. Don’t expect that to pop up but I can tell you that many of us need to back off the money train and take a look at our lives, from all angles.  How many slices are in your pie? You should know the answer by the time you finish reading this post. Our neighbour went away on vacation with his wife for 2 weeks but since we hadn’t seen them we weren’t aware that they were gone. No big deal as we don’t talk to them everyday nor do we need to know their every move. One day while I was out shoveling in the late evening I noticed that their garage door was wide open and no lights were on. The vehicles were nowhere to be found and instantly I knew something wasn’t right. Since we have the key to their house in case of emergency I went in and locked everything up. They had gone on vacation and left their garage door open as well the man door to anyone who was thirsty to clean them out of house and […]

To Take Or Not Take Early CPP

CANADA PENSION PLAN DILEMMA   My husband just turned 62 and we’ve been in a quandary about whether he should take his Canadian Pension Plan (CPP) early (before 65) with penalty or not. We’re both still working and plan to be for the next 4 years while we pay off a whack of debt. Because of penalties introduced in 2012, the amount you receive by taking your CPP early is less than before this legislation was introduced. Let me try to walk through the peculiarities of our situation and how we reached our final decision.   The CPP Rules   While I can’t walk you through all the rules, I will highlight the key ones or ones that were relevant for us but refer you to the CPP website which is actually pretty clear.  I just want to point out that the Quebec Pension Plan (QPP) has a different set of rules, up front. Normally CPP was collected at 65, with penalties and premiums if you elected to take it anytime from age 60 to 65, or from age 65 to 70. Contrary to popular belief, with the new rules introduced in 2012, the age for CPP has not changed […]

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