debt debs

Personal Debt Wrangler – Had my money head in the sand – but no more!

To Take or Not To Take Early CPP


take-CPP-earlyHey y’all I’m excited to be featured on two sites yesterday and today.

First @ Cash Cow Couple, Vanessa featured questions and answers from a bunch of talented and accomplished women in Woman Crush Wednesday (follow hashtag #WCW) and I was delighted to be part of it.   This is a one stop shop for some fantastic career advice and you don’t want to miss this!

Did you know Mr. Canadian Budget Binder has a newborn? While they’re adjusting to their new (lack of) sleep schedule due to bundle of joy baby CBB, he’s been featuring some great guest posts on his site.  Today I will go through our decision making process on whether The Irishman should apply for his Canada Pension Plan early, as in now.

Canada Pension Plan Dilemma

My husband just turned 62 and we’ve been in a quandary about whether he should take his Canadian Pension Plan (CPP) early (before 65) with penalty or not. We’re both still working and plan to be for the next 4 years while we pay off  a whack of debt.  Because of penalties introduced in 2012, the amount you receive if you take early CPP is less than before this legislation was introduced.  Let me try to walk through the peculiarities of our situation and how we reached our final decision.

Continue reading … at Canadian Budget Binder.


Author: debster

I am a fifty-something wife, mother and new grandmother, who admits to having their “head in the sand” about their financial situation until amassing $247,500 worth of consumer debt for a total debt of $393,500. We've paid $121K in 2 years with four more years to go. Join my journey at sharing ideas and motivation to all those coping with poor money management and bad debt decisions.

12 thoughts on “To Take or Not To Take Early CPP

  1. You really get around. Featured everywhere.. Good for you!
    LeisureFreak Tommy recently posted…Letting Go of SummerMy Profile

    • Well hey, thanks Tommy. I’m trying to get my name out there so I can grow my blog to reach more people.

  2. Congrats on the two features, Deb! I’m heading over to CBB to check out the rest of your post now :)
    Addison @ Cashville Skyline recently posted…Seeking Mindfulness at WorkMy Profile

  3. Congrats on the two postings! Your site is just rollin along!
    Dan @ Our Big Fat Wallet recently posted…Costco’s Secret Price CodesMy Profile

  4. Busy, busy, busy. Kudos to you, my friend.
    SavvyJames recently posted…Cream City Hustle – Available for Pre-OrderMy Profile

  5. Woohoo! It’s great to see you featured all over the place :)! Now I’ll go read the post on CBB
    Mrs. Frugalwoods recently posted…Weekly Woot & Grumble: 6 Months & A Healthy HoundMy Profile

  6. Great information! Deciding when to retire is always tricky.
    Sondra @ Savers4Life recently posted…High Value Grocery Rebates with Snap App by GrouponMy Profile

  7. Good job Deb — and some great calculations over on your guest post!

  8. Wow Debs, that is an overwhelming amount of math :oP
    Mel @ brokeGIRLrich recently posted…Read the Fine PrintMy Profile