President Biden has signed off on the Social Security Fairness Act, which eliminates WEP and GPO. Eliminating WEP may mean hundreds of extra dollars per month in Social Security benefits for families that have lived and worked in the U.S.…
Category: Cross-Border Planning
The Best (And Cheapest!) Way to Move Money From Canada to the U.S.
Are you looking to move money from Canada to the U.S. but don't want to lose thousands in exchange rate and bank fees? This video discusses different strategies for moving money from Canada to the U.S. We discuss: Reporting requirements…
Read More The Best (And Cheapest!) Way to Move Money From Canada to the U.S.
How Much You May Collect From Canada Pension, OAS, and U.S. Social Security
"Bryan, if I knew I was going to have this much in retirement income, I would have retired years ago!" was an exact quote that I got from a new client a few weeks ago. We reviewed his retirement income…
Read More How Much You May Collect From Canada Pension, OAS, and U.S. Social Security
Video: Collecting Your Canada Pension (CPP) as a U.S. Resident
In this video, we discuss the following: - CPP basics for U.S. residents - The Windfall Elimination Provision (WEP) reduction - Strategies for maximizing your CPP and Social Security
Video: Canadian Account Withdrawals For U.S. Residents
RRSP and LIRA Withdrawal Strategies for U.S. Residents
The Exit Tax When Moving from the U.S. to Canada
Interested in moving to, or moving back to, Canada from the United States? I was recently speaking with a client that moved to the U.S. from Canada because of a “six-month” job assignment. Twenty years, three jobs, and four different…
How CPP Impacts Your Spouse’s U.S. Social Security Benefit
Recently, I got a pretty basic question on the website. Well, what seemed basic enough. Does WEP also apply to a Canadian who lived in the US, never worked in the US, but collects Social Security spousal benefits due to…
Read More How CPP Impacts Your Spouse’s U.S. Social Security Benefit
Retiring in the U.S. vs. Canada
As a cross-border financial planner I get one question the most often, “Am I better off retiring in the U.S. or Canada?” Now, there are many non-financial benefits of retiring in both countries. You may have family back in Canada…
Collecting CPP in the U.S.
When I called a prospective client a week ago, my jaw dropped. "What do you mean you're not going to turn on your CPP benefit?", I asked in amazement. She had been told that CPP reduces her social security benefit,…
Collecting OAS in the U.S.
"I can travel more!" That was the first thing Anne said when we discovered that she should be receiving an extra $610 per month from Canada. It was a benefit, that her U.S. and Canada financial advisors had missed. The Canadian…