Rob Carrick looks at $1 airline tickets, seniors discounts, over-rated credit cards and more
The Canada Pension Plan is an example. Once you retire, the CPP pays a monthly benefit for as long as you live and adjusts that amount each year for inflation. The CPP has been certified as healthy for the next 75 years by actuaries, who can best be described as the engineers of the financial world. When they stress test something, you can be confident it was sliced, diced and julienned.on the social media platform X that was initiated by portfolio manager Ben Felix. Mr.
In a calm and informational way, Mr. Felix addresses the many concerns people have about CPP. He explains that it’s financially healthy, which means it can be relied on when you plan for a retirement many years down the road. He points out that CPP assets are separate from federal government revenues and thus off limits to finance ministers scavenging for money. He also notes the CPP’s annual inflation adjustments, which help you maintain purchasing power in retirement.
Mr. Felix also acknowledges the limitations of the CPP, notably that benefits will not on their own be enough to support people in retirement. CPP recipients will likely have Old Age Security benefits as well, but additional savings and/or a company pension may also be needed.
It’s fine to be a CPP skeptic as well, but don’t close your mind. As Mr. Felix points out, the CPP is actually what it seems. It works.Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on MoneyThe ultra low-cost carrier Flair Airlines has a deal going – base fares of $1 for people flying back to Canada from southern sun spots. Yes, there are add-on fees for things like checked bags, picking seats and more.
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