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😂😂😂 We paid off $87,000 in 25 months. Love this. Dock their pay for sure.

So, working my whole life never been on unemployment I'm getting maybe 20K in a year while I was ripped off for more than half of my income in taxes and other crap?

I will believe it when I see it!!!

We have to accept it....afterall we must provide our political leaders with bulletproof retirement pensions and salary increases to overcome inflation and more. It's a sacrifice but we have no choice.

My wife is always doing our finances and bils , but when it comes to investments and planing she leaves it for me to deal with. The reason is that she was an acountant in a company back home but she never learned English well enought to understand all norms and regulations in Canada.She is fine with all except not willing to postpone her OAS to 70 .

I dissagree, there is no guarantee you will be alive or healthy at 65. I will be taking mine as soon as I can, at least I will be getting something. For peopel that have other pensions, or lots in RRSP/savings and you don't need CPP, sure hold off.

Except this is another view hunt, cheap way to get views from poor seniors!!!!!!!

As an individual pensioner who has worked hard in Canada for my whole life and receive just enough pension money outside of OAS and CPP to completely eliminate any GIS, I feel that I have been and continue to be cheated.

Great advice...thanks..

I WISH !!!!! JMH

I find it sad to hear those numbers Everyone who works hard deserves a peaceful economic retirement. Even if you're not rich. The burden of stress that this creates must be awful. Go Oilers Go !!!!!

Kent how do we contact you to compare what we already have in place? Where are you out of?

70? Why not 80 ? LOL! Think of how much you will get in the months before you die.

those MERs are brutal. There are so many quality ETFs these days with MERs in the 0.07 to .2% range and so many brokerages that allow you to buy and sell ETFs with no fees.

great video. learned some things. i love this kind of stuff, makes me want to go get my MBA in finance.

you don't even know. A brain aneurysm killed my mom out of nowhere. I plan on delaying CPP until 70 (lol - my kiddo will just be GOING to college/university/trade school when I'm 63...) but I could get hit by a bus at 68. But that 42% bonus is too enticing.

63, healthy as a horse, making a really good income. I’ll retire at 65 never work again.

Take a walk down the halls of a nursing home. Many living 80 yr. olds aren't really living. All that money (waiting for more) won't wipe the druel off your chin.

Very funny Joaquin. You never talked about those Columbia savings when you made my tax planning. Cheers from Ontario

Simple math.... Let's say at 65 I get approx $2000 a month. That's $24000 / year. So if I wait till age 70 that works out to 5 x $20000 which is $100,000 If I wait till I'm 70 I don't get one cent of that $100,000 So how long will it take if I wait to retire at 70, to make up that $100,000 ? Too long. I probably won't live that long. Who pays you to create these videos, the Government?

Never trust Major Banks! This is my personal experience.

Hi Kent. Know there is presently only one institution with this product but could you do a video on ALDA ?

Thanks for this!

Great episode. It really is helpful to at least discuss the subject of annuities so people are aware of the product, and can then do their own homework. 👍

I'm smashing my current 2.44% mortgage before renewal next April.... extra $2K a month.

Sir, pls consider why only 1% take CPP at 70. While your math is solid, your understanding of aging is naive

Definitely pay any high interest debt. Make an emergency fund. Then invest

Interest forgone is risk free. Not counting the opportunity cost of alternative options. Even if your investments have a consistent 10% return over meaningful time horizons you have to take risk to achieve that return. A more nuanced conversation when it comes to mortgages tho if affordably at renewal isn't a concern.

Very much agree with the math of delaying CPP and melting down RSP. Only caveat to that is how much risk willing to take that you won't die earlier than the average. Yes, emotional factor but not even thinking of missing out on CPP but how well wife would be after. Have a DB pension. Wife still gets 60% of it. Remaining RRSP and TFSA goes to her. OAS, gone. Both are 85%+ of CPP so hardly anything extra there.

"Your kids are losers" 😂😂😂 Good one, Kent!

Thanks for this! One thing I'd like to learn more about is Federal insurance for annuities in Canada. . My vague understanding is there's a certain coverage for monthly payouts up to a certain amount, then reduced percentage coverage for amounts beyond the base. (in the case of the insurer failing). If there isn't similar protection for work pensions, that would be an additional reason to obtain quotes outside the work pension.

Doesn't your annuity providers give a better rate to those with lower life expectancy? I got an annuity years ago, and I provided proof of diabetes which actually increased my monthly payments. I also found that paying for term life insurance for the amount of the annuity was a way of dealing with the uncertainty of possibly dying too quickly. And, Also Go Oilers Go!!!

What if the annuity provider goes bankrupt? (Also, Go Oilers!)

Did you just slam your wife on RUclips?

Mine was reduced to the point where june 28th is my last day of work. Retirement here I come - and it's all thanks to you and Joaquin!

I have always bewn the money person in.any relationahip (I'm.a woman). I don't care. I've never been with a man who was i to this stuff.

Totally sympathize with your frustration for moronic comments!

Yep. That’s me. My wife has no idea. And she’s gonna end up living the dream. No worries. I of course have spent the last 20 years worrying and saving.

Spouses who hate finances can because the other spouse has it all covered! I hate gardening because my wife loves it and does it well!!😁

Even if Joaquin reassured me that i was doing ok . I just can't get rid of that stupid anxiety. I don't think any cure is possible lol

Ive got a blue print made by Joaquin a few months back and my wife didn't even look at it. As i showed her this video she told me " this makes me feel good that im not alone without interest in finance" i gess you made her day. Go Oilers Go

The amount of people relying on banks to help them put a retirement plan together is mind-boggling.

The intro is exactly what happens here. Lol

LoL - A very relatable video. I bet if we walk into your office it will be exactly like you said. Appreciate your content and honesty. Your effort in creating such content is highly appreciated. 👍

SURE wait till you're 70 even older get good money than you die LOL

Great interview Kent and really enjoyed it with Sandi Martin

Where is your office. .

Ty 😮

If they don’t want inflation to go up, they should stop printing money and devaluing the Canadian dollar.