Imagine paying $5,120 per year into an investment for 40 years...
Age 25 to age 65... You 50% and your company 50%...
That's over $200,000... but with 5% compound interest it's worth $654,000...
And when you die at age 65... All your estate gets is $2,500...
But...That's Taxable income so your estate might get $1,800...
What investment is that?
It's called the Canada Pension Plan (CPP)...
But it's not life insurance, it's a pension plan...
Life expectancy in Canada is approximately 80 years old...
So you'll get $13,000 per year... Less tax = $9,000 per year...
and if you live until you're 80... that's $135,000
So you invested $200,000 and with interest it grew to $654,000...
and you'll get back $135,000? That's it?
That's Canada Pension Plan (CPP)?
YUP!
There has to be a better way...
Introducing...
The Corporate Life Insurance Pension Plan