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…
If you worked in both the U.S. and Canada, there is a good chance that you will have both U.S. social security and a Canadian pension. Unfortunately, this brings an added wrinkle regarding when you should turn on each benefit.…
Read More Social Security Strategies When You Also Have a Canadian Pension
Sometimes, as a financial planner, I have to deliver bad news. “We may have to look at cheaper homes.” “Sure, you can retire this year, but you may have to sell the boat.” “No, you can’t buy lotto tickets…
Retirement planning is hard enough if you have always lived and worked in the United States. If you have worked in both Canada and the U.S., retirement planning may seem impossible. You have to deal with a moving exchange rate,…
Read More How Your Canada Pension Plan (CPP) Impacts Your U.S. Social Security Benefit
