Hi, Guest
02-28-2009, 04:05 AM
See, I have funds on "both sides of the fence". We have a DCPP here at work (staff-paid with company match) that is protected and then I have a RRSP as well, plus a self-directed savings account that I will be flipping into a TFSA shortly (great for immediate-needs liquidity if you really need it).
So, because you've paid into CPP over the years you want every dollar back? Don't you think that's a little bit of a pipedream?
Do you max out your dental and other benefits each year because you've paid into them? CPP and EI are just taxes that get earmarked for specific gov't services, nothing more. To qualify for pay-out under those services, you must have essentially "paid your taxes" over a set period of time.
Sorry man, we're from totally different schools of thought. I really don't see how you can have an investment plan that will allow you to live comfortably off just OAP and CPP and a little bit more. I'm watching how my grandmother (83 years old) lives right now with a mix of RRIF, OAP and CPP as well as some leftovers from her days as an insurance specialist at Confed before they were bought out. She's comfortable and to my knowledge she isn't paying excessive taxes.
Like I said, I'd love to hear how you're working this little shell game with the gov't.
What I meant was you should have direction over your own funds. I control where my outside-the-company funds go (CDN equity, money market, bonds, mixed funds, etc) and where the rest go. If you're trusting other people blindly with your funds, you're more trusting than I am by far.
So, because you've paid into CPP over the years you want every dollar back? Don't you think that's a little bit of a pipedream?
Do you max out your dental and other benefits each year because you've paid into them? CPP and EI are just taxes that get earmarked for specific gov't services, nothing more. To qualify for pay-out under those services, you must have essentially "paid your taxes" over a set period of time.
Sorry man, we're from totally different schools of thought. I really don't see how you can have an investment plan that will allow you to live comfortably off just OAP and CPP and a little bit more. I'm watching how my grandmother (83 years old) lives right now with a mix of RRIF, OAP and CPP as well as some leftovers from her days as an insurance specialist at Confed before they were bought out. She's comfortable and to my knowledge she isn't paying excessive taxes.
Like I said, I'd love to hear how you're working this little shell game with the gov't.
What I meant was you should have direction over your own funds. I control where my outside-the-company funds go (CDN equity, money market, bonds, mixed funds, etc) and where the rest go. If you're trusting other people blindly with your funds, you're more trusting than I am by far.
Daily driver 1: 2007 Jeep Wrangler Unlimited Sport "S"
33" BFG Mud-Terrain KM2s, lots of Rough Country gear - bumper, 2.5" lift, swaybar disconnects, Superwinch 10,000lb winch, Detroit Locker in rear D44 axle, custom exhaust, K+N filtercharger, Superchips-tuned.
Daily driver 2: 2006 Subaru Legacy GT
COBB Stage 1+ package - AccessPort tuner, COBB intake and airbox. Stage 2 coming shortly - COBB 3" AT stainless DP and race cat, custom 3" Magnaflow-based exhaust and Stage 2 COBB tune.
33" BFG Mud-Terrain KM2s, lots of Rough Country gear - bumper, 2.5" lift, swaybar disconnects, Superwinch 10,000lb winch, Detroit Locker in rear D44 axle, custom exhaust, K+N filtercharger, Superchips-tuned.
Daily driver 2: 2006 Subaru Legacy GT
COBB Stage 1+ package - AccessPort tuner, COBB intake and airbox. Stage 2 coming shortly - COBB 3" AT stainless DP and race cat, custom 3" Magnaflow-based exhaust and Stage 2 COBB tune.