I came across a Kitces blog post about deferring Social Security income to 70, and how it is the best long term investment that money can buy. Akin to Social Security, is our Canada Pension Plan.

When considering retirement planning decisions, one of the biggest choices clients face is when to start Canada Pension Plan (CPP) benefits. Choosing between taking CPP at 60 or waiting until 70 can be daunting. Each option offers distinct advantages and disadvantages, so understanding them is crucial for making a decision that fits their financial goals and lifestyle.

Most planners or advisors will likely advise deferral of CPP to age 70. There are obvious reasons why - which we'll get to! - but this article isn't about convincing you as to why you SHOULD. It's about understanding that, even with the best laid advice, most people DON'T.

Read the full blog post here: https://www.moderncents.ca/post/cpp-at-70-makes-cents-and-sense-but-cpp-at-60-everyone-seems-to-be-doing-it