If You're Retiring Early, What Happens To Your CPP? | Retirement Unpacked Ep 031

Work with our team: https://www.parallelwealth.com/planning Subscribe to our clips channel: ‪@ParallelWealthClips‬ In episode 31 of Retirement Unpacked, Adam and Gord break down if it makes sense to delay your OAS, what happens to CPP if you retire early, the pros and cons of renting vs. holding onto your house in retirement, when income splitting is beneficial, and much more. Later in the episode, Peter Filippakis, joins to discuss around the potential changes that we could see regarding OAS in the future, and how to plan around them if they’re a concern for you. Have a question about anything retirement related? Drop a comment, and we’ll try to cover it in a future episode! If you have any questions about this video's topic or retirement planning in general, visit https://www.parallelwealth.com/ or use the links below to learn more about our services: ➡️Fee For Service Retirement Planning: https://www.parallelwealth.com/planning ➡️Retirement Income Program™: https://www.parallelwealth.com/invest... ➡️Parallel Wealth Masterclass: https://www.parallelwealth.com/education More from Parallel Wealth: 🔗https://linktr.ee/parallelwealth The above affiliate links are provided for your convenience. If you click on a link and end up purchasing a product or service, this channel may receive compensation for the referral. We have personal vetted each product and service we provide links to. DISCLAIMER: This presentation is for informational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments carry risk, and past performance does not guarantee future results. Any forward-looking statements are based on assumptions and may not reflect actual outcomes. The content on this channel is for educational purposes only and does not provide specific investment or planning recommendations. Viewers should consult a qualified professional for retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for any decisions made based on this content. TIMESTAMPS 0:00 Intro 0:24 Does it make sense to delay OAS? 3:20 Delaying OAS when you've lived in Canada less than 40 years 5:00 Retiring at 55, what happens to CPP? 8:41 Delaying CPP is pushing me into OAS Clawback 11:53 Renting vs. holding onto the house in retirement 15:36 Should you pay cash for cars? 19:00 When is income splitting beneficial? 21:59 Do you need insurance to cover your debt? 25:00 Trigger to use your cashflow wedge 28:30 Potential changes to OAS 35:09 - Upsizing in retirement