Experts: “Most People Should Defer CPP.” Canadians: “No.”

In our latest episode, Dave and Jason Heath dig into why so many Canadians choose not to defer CPP and OAS—even when the math says they should.

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There’s no financial experts out there really. I can find a candidate. I mean, true experts, people like you who don’t think, for most people, deferring CPP and OAS makes sense. The problem is the general public is more or less saying, screw you guys. I’m taking the money. And even, even my friends who have great trust in me, I will sit down and show them the math.

I make no money from them not doing it. And they’ll say, yeah, Dave, everything you say is true, but I’m taking it.

Yeah,

It’s amazing how powerful that get it right away. Feeling the bird in the hand type argument is very compelling for a lot of people.

Yeah, I agree. I’ll tell you, I wrote an article that was in the financial post today on CPP and old age Security, and every time I do, I end up getting a few nasty emails. I, I had an email from a, a guy with the swear words and the names and the, and you know, I felt like replying to, to say. Read the article, read the points that I’m trying to make.

I’m not saying it’s perfect, but you know, I think it’s a, it’s a tool like the reverse mortgage, like the annuity, you know, know the numbers, know the math to decide whether deferring is, is good for you. But, uh, you know, there’s a reason that that people like you and I are endorsing it.