Retirement and Financial Security - Brayden Bryan by

Video 1: How much money you can get from CPP and OAS

braydenbryan2 — 2024-04-01 17:39:44 UTC

In this video it is talked about how not a lot of people know what to expect from their Canadian Pension Plan or Old Age Security when they decide to retire. It goes a little bit into depth on how you can estimate how much you will receive depending on the age you retire at, giving you an opportunity to plan ahead. I chose this video for the reason that not a lot of people are aware of the amount they will be getting from the CPP and having access to something that will help give an estimate could be very valuable.

Video 2: A guide to CPP and OAS for when you retire

braydenbryan2 — 2024-04-01 18:03:56 UTC

In this video it is noted that while many Canadians rely on the Canadian Pension Plan and Old Age Security not a lot of them actually understand how these plans work, this video gives good insight and explains more in depth of the CPP. Different things that are gone over include eligibility, the Application Process, How much you will get, is it Taxable?, along with when you should start. I picked this video for the reason that it gives a good introduction to what the CPP and OAS are, along with the best route to take to maximise your earnings.

Video 3: What happens to your CPP, OAS and GIS if you decide to retire abroad

braydenbryan2 — 2024-04-01 18:15:20 UTC

In this video it is gone over what will happen with your CPP, OAS and GIS if you decide you would like to retire abroad. It is talked about how your CPP is money you earned from working, so you are entitled to that money and it goes wherever you go. The OAS is a little different as it is based off how long you have lived in Canada, it is possible to still collect OAS however there might be extra qualifiers to go through. With the GIS you have to be a residence of Canada to receive payments so if you decide to leave you will not get GIS payments. I picked this video for the reason that I'm sure many people have thought of retiring abroad but may not know what will happen to their retirement payments if they do so, this video really helps go into depth on these topics.

Video 4: How much money do you need to retire in Canada

braydenbryan2 — 2024-04-01 18:29:01 UTC

In this video it is talked about how much money you will need to retire, it also goes over that the amount that is needed depends on the person and the lifestyle they live. If you are a person who lives a 'lavish' lifestyle you are going to want to have a bit more saved to be able to maintain that lifestyle and the same goes for if you don't typically spend to much you won't need to save as much. I picked this video for the reason that I think it is quite informative on the general idea of how much money you should have when you retire. Having a number that you can work towards will be a great benefit in the long run so you'll be able to live comfortably in your later years.

Website 1: Retirement matters to Canadians, but the path is unclear

braydenbryan2 — 2024-04-01 19:26:07 UTC

This website goes over how a lot of Canadians are usually thinking of retirement and their financial plan for when the time comes, but are unsure how they should go about things while worrying that they'll eventually run out of money. I picked this website for the reason that it shows not a lot of people are aware of their options when the time for retirement comes but there are resources out there that help give a deeper understanding into different approaches you can take.

Website 2: Retirement Planning

braydenbryan2 — 2024-04-01 19:26:54 UTC

This is Canada's website on Retirement planning, it gives information on the different incomes you can have while retired, steps to take to start saving for retirement, along with ways to make estimates on the amount of money you will need to retire. I picked this website for the reason that it has a ton of information on everything you would need to start planning your retirement while also being very easy to navigate. Another great thing about this website is that it has a retirement checklist which is a good place to start to see if you are ready to retire.

Website 3: Retirement

braydenbryan2 — 2024-04-01 19:35:09 UTC

This is Canada Life's website on Retirement, the website goes over how to plan for a financially healthy retirement while also giving a countdown on the steps you should take depending on how close you are to retirement. The website also gives good information on the income options you have when retired. The reason I picked this website is for the reason that it is very helpful in giving you the steps you should take to be financially healthy during retirement while being in a user friendly format that is easy to navigate.

Website 4: Retirement Income system in Canada

braydenbryan2 — 2024-04-01 19:36:27 UTC

This is a website from the FSRA(Financial Services Regulatory Authority of Ontario) explaining the retirement income system in Canada, it goes over employment-based pension plans, personal retirement savings along with pension plans from the government. This website has a lot of links with information on the different types of pension plans and what you may or may not be eligible for. It also gives insight on the options with your savings and how you could possibly grow it into more money.

Image 1: Retirement Planning

braydenbryan2 — 2024-04-01 19:41:54 UTC

This is an image of some of the steps you can take to start planning for retirement. It gives you a good place to start if you are unsure of what you need to look into.

Image 2: Retirement Finances

braydenbryan2 — 2024-04-01 19:43:47 UTC

This is an image on how Canadians 55+ generally need more than just government run savings programs to be able to afford retirement. I included this image for the reason that it shows you should start looking into saving for retirement rather then relying on government funded programs.

braydenbryan2 — 2024-04-02 02:45:29 UTC

From the videos and websites on this wall you should expect to learn about your options as a Canadian during your retirement. Along with what you should expect from the CPP(Canadian Pension Plan) and OAS(Old Age Security).

braydenbryan2 — 2024-04-02 03:02:43 UTC

Something that surprised me the most about my topic is how many Canadians are worried about running out of money during retirement as it's something I've never thought about before. This topic is interesting to me as my grandparents are reaching the age where they retired just a couple years ago and it's pretty interesting seeing how they still earn an income and what steps I should take to give myself a financially healthy retirement. One thing I would pass on is to try and calculate how much money you'll need for retirement and have a plan to get there to put yourself in a comfortable place financially.