A bird in hand or two in the bush?
From as early as 60 until we are 70, each month offer an opportunity to start drawing CPP. Each choice offers a different annual income. The difference between the best choice and worst choice can total to over $100,000* over your life time.
The CPP Optimizer compares all your options and identifies the start choice that will maximize your lifetime income.
Your right start-date starts with mathematics assesing the balance of bonuses and penalties which is carried by each choice against your estimated longevity. Selecting your best start-date however requires considerations that stretch well beyond mathematics. We will alos lend consideration to your individual financial positions and longer term cash needs.
With potentially $100,000 of retirement income at risk $500 is a smal investment to make to avoid mssing out on $100,000 or more in retirement income.
*Based on a person age 59 today who expects $8,000/yr in benefits and will live atleast another 25 years.