Mike and Sandy have lived and worked in the U.S. and Canada for 20 years. They were shocked to learn just how much they would receive from U.S. Social Security, the Canada Pension Plan (CPP), and Old Age Security (OAS).…
Read More How Much Will I Collect in Social Security, CPP, and OAS in Retirement?
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.…
Last night, the Senate voted to repeal the Windfall Elimination Provision (WEP). This may mean hundreds of dollars more in monthly social security benefits for families that also have a Canada Pension. In this video, we discuss: - The Social…
U.S. Social Security will be one of the largest sources of retirement income for most cross-border retirees. It is also one of the most confusing. We clear up the confusion in this video. We discuss: - Qualifying for U.S. Social…
Read More Cross Border Retiree: How Much Will You Collect in U.S. Social Security?
Did you know that you may be eligible to collect a Spousal Social Security benefit even if you have never worked or lived in the U.S.? Imagine never living in the United States but still collecting $1,400 monthly from Social…
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
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
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,…
Sheila was advised by her U.S. based financial planner to withdraw her RRSP, and bring it to the U.S. She thought it was a reasonable request. At only $100,000, the RRSP represented only a small part of her total retirement…
Read More The 5 Biggest Cross-Border Planning Mistakes to Avoid In 2022
An interesting question came up the other day while meeting with a family. Will my wife get part of my CPP benefit now or if I were to die first? Here in the U.S., typically if you qualify for a…
