Fee-Only Financial Planning / Advising in Kitchener Waterloo Cambridge - WD Development
 
 

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Happy 2025!

 

Want a broad overview of how to think about your finances and set goals for this year?

 

This article by Srvindhya Kolluru has tips from myself, Blair Lukan and Scott Plaskett.

 

 

 

 

 

 

 

 

 

 

 

 

 

New 2023 numbers, Part 2

Next up in 2023 numbers that matter:

 

Canada Pension Plan contributions: $3,754.45 for employers & employees/ $7,508.90 for self-employed Canadians.  This is a noticeable hike; it's part of a multi-year plan that was approved by the provinces & feds in 2015.  Good news- there is also increased benefits that are funded by this increase.

 

EI premiums: $1,002.45 for employees on max insurable earnings of $61,500

 

Canada Pension Plan payments: max monthly retirement payment (age 65) $1,306.57.  A note that the average Canadian receives 56% of the max amount - $731.68/mnth.  CPP pays a number of other benefits, including post-retirement benefits, disability and survivor benefits.  For the entire list of CPP & QPP benefits, click here

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