8 Reasons To Take CPP at 60 (Ranked Worst to Best!)

For most Canadians, the Canada Pension Plan (CPP) is one of the largest and most reliable retirement income sources.
But one question keeps coming up again and again:
“When should I start my CPP benefits?”

It’s a decision that can quietly cost - or save - you tens of thousands of dollars over your lifetime.

In this video, Sim Gakhar, Top of the Table MDRT Advisor and Founder of SG Wealth Management, breaks down the 8 most common reasons Canadians take CPP early - ranked from worst to best - and reveals when it actually makes sense to start your benefits.

💡 What You’ll Learn in This Video

✅ Why taking CPP at 60 can reduce your benefits by up to 36% - and waiting until 70 can increase them by 42%
✅ The 8 most common reasons people start CPP early - and which ones are actually valid
✅ Why fear-based decisions like “CPP might run out” or “my friend told me to take it” can cost you thousands
✅ Real examples showing how delaying CPP can boost lifetime income and improve retirement flexibility
✅ How to align your CPP decision with your RRSP, TFSA, and pension strategy
✅ A simple 3-step framework for deciding the right time to start your CPP

📊 Key Facts Mentioned

CPP is independently managed and funded for at least the next 75 years (Office of the Chief Actuary of Canada)

The average Canadian starts CPP at age 62

You would need to earn 13-14% annual investment returns just to match the benefit of delaying CPP

Once you start CPP, your decision is permanent - you can’t go back

🧩 Why This Video Matters

Choosing when to take CPP is one of the most important - and permanent - decisions in retirement planning.
Most Canadians start too early, driven by fear or misinformation. But a well-timed start can transform your financial security for decades.

This video will help you make that choice based on data, not emotion, so you can retire with clarity, confidence, and peace of mind.

🧠 This Video Is For:

Canadians aged 55 - 70 deciding when to start CPP

Professionals and business owners with RRSPs, TFSAs, or pensions

Anyone within 10 years of retirement who wants to maximize their income

People who want to understand how CPP fits into their overall retirement plan

💬 Ready to Find Out What’s Right for You?

At SG Wealth Management, we help Canadians align their CPP, OAS, and investment decisions to create tax-efficient, flexible retirement income strategies that last a lifetime.

📅 Book a Free Consultation: https://sgwealth.ca/schedule/

📧 Email: [email protected]

📱 Phone: +1 647-879-7294

📘 Featured Resource:

“Roots to Returns: Building, Growing, and Exiting a Business with South Asian Values” by Sim Gakhar
A practical guide to integrating cultural values with modern wealth strategies — from tax efficiency and insurance planning to legacy building.

🎥 Watch the Book Overview: https://sgwealth.ca/book-roots-to-ret...

👉 Order Now: https://sgwealth.ca/book-roots-to-ret...

🌐 Connect with SG Wealth Management:
🔗 Website: www.sgwealth.ca

💼 LinkedIn:   / sim-gakhar  

📸 Instagram:   / sim.gakhar  

📘 Facebook:   / simgakharinsurance  

Tags:
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