if you are okay with the threat of communist control by trudeau. Of did you not know he is big on the great reset-you will own "NOTHING" and you will be happy.
@@wally6193 I've seen the same kind of comments being made every now and then since last year. But no one ever seems to be successful in explaining how it's feasible in real. @.@
@@noesisML good question but don't be surprised when it happens. Communism doesn't just happen in 2 days, it slowly creeps up on you, then the next thing you know you are in a communist country under the control of a dictator like trudeau.
@@wally6193 I understand your concern is not baseless when I think of the bill C-10 as they are attempting to adopt some Chinese style communism. Just hoping their intention is good out of their uncorrupted mind. Thanks for the heads-up anyway ☺
I disagree that our health care is "phenomenal". We have one of the worst wait list times among developed countries, so if you need a knee replacement you will have to wait in pain for months if not years to get treatment. The system is sucking up a greater amount of provincial government expenses which can't be sustained indefinitely. It already is underfunded and getting worse. We need a mixed system that allows private options.
Waiting years is an overstatement. Sometimes we have short wait times and sometimes longer. On average it's pretty decent but some have higher expectations. I would also argue the system is more wasteful then underfunded. Too many rules to CYA that cost big dollars.
I totally agree and have a similar experience. I went to an orthopedic surgeon in Toronto who would not operate on my bones spurs in my shoulder. I had to wait till I’m 65 for a total should replacement. Long story short, moved to Taiwan. Found the best doctor would deals with shoulder joints. Got the appropriate surgery and stem cell injections to grow back the cartilage. BOOM! New shoulder. 6,000usd
Thank you, for the positive note. Our health care may not be perfect. Having spent the last few years with parents at the end of life. I’m so grateful for the amazing care, with all the medical people, and care homes. Not having to pay personally/directly. Leaves my senior years, financially intact. It made for a lot less stress, dealing with them.
People still don't have the freedom to live here so speech isn't something they are thinking about. Assuming they would actually have the intelligence to understand it judging the morons driving by themselves with a mask on. Nothing like having your government shutdown your life, try to cap wages at $39k/year and drive hyperinflation so most people can't buy a house. I just heard by 2035 you will only be allowed to buy electric vehicles in Canada. That, government controlled weed and gun control are the governments biggest issues instead of what is destroying Canadians lives. Unfortunately O'Toole isn't hot enough to get enough votes and "we need to get rid of the white male elites to promote diversity" doesn't apply to guys with turbans. Bimbeau will win again. We can only hope that our currency maintains some value to the USD and our borders will reopen. Does anyone know any Cubans who can make a liferaft to cross the Great Lakes?
@@ParallelWealth No, that was your grandparents (up hill, both ways, against the wind, yadyada). And the only hill in Regina is the landfill. I can see it from my window! :)
Completely agree with this. Yes, we can debate numbers and we can have our opinions. Being in this beautiful country means we can have dissenting thoughts with respect and not be put in prison or worse. I am blessed to be able to travel around this world and Canada (Calgary) will always be my home base.
Here's the main reasons to stick around here: Carribean - Island fever. Central America/South America - Nah you want to live somewhere where the authorities are relatively difficult to bribe, preferably with an English common law legal system. Australia - too many deadly critters, although it's my favourite accent. New Zealand - safe critter-wise, but too isolated and expensive. England - love it but the weather... bloody hell. US - like here, but with more extremes in temperment. Homer Simpson called Canada America Lite, and I don't have any problem with that. We were founded by the more mild mannered Loyalist cohort of the 13 colonies that fled north after the revolution, along with the other colonies down east that refused to join in. And the upside to winter is it keeps most of the dangerous critters to the south. Now, Portugal does sound intriguing, because its negatives don't bother me too much.
Really, Well food,Gas,books and clothing are much cheaper then Canada and you still get Taxed on your Social Security after 66 in Canada where many States don't tax it after a certain age. Electricity bills are cheaper in almost all those States you mentioned because they have a much warmer climate than Canada and Snow birds live there for 6 months out of the year anyway. There are power outages just about every other week in Canada, At least in Quebec from my experience! But with that being said Canada is a Beautiful Country and so are its people. The only sad parallels is that Canada has Trudeau and the US has Biden. Oh well, Nobody's Perfect.
The current gov't will to get you when you go to sell your house and downsize. Freeland has commented on what an untapped revenue source that is. After all, why should you reap the benefits of buying in early when they have so many pet projects they're so desperate to fund ?
I'm living Thailand and loving it I live a simple life here just as I did in Canada Canada is ridiculously expensive for everything. Healthcare here is great and usually very quick and easy to see doctors Since you don't need prescriptions for 99% of the medication, I just go to my local pharmacy where they speak perfect English and it's a lot cheaper and easier than visiting a hospital Thailand is relatively very clean and safe - I leave my helmet on my motorbike and it's never been taken Canada is the most welcoming country in the world for foreigners The rules and regulations for foreigners in any Asian country They are very strict about money laundering here which is one reason housing and cost of living is so affordable
Great video series. Plenty of reasons to retire in Canada, as well as lots of incentives to spend part or half the year overseas. It would be great if you film a subsequent video detailing the regulations with respect to taxation and preservation of our benefits if we Canadians live part time in a foreign country.
For any Canadian tired of winter storms and snow, "escape" to the Caribbean or similar region is quite affordable and has become an annual event for many people. Can you talk a bit about Snow Birds (those who spend summers in Canada and winters somewhere warm) and things they should consider when it comes to travel and access to their bank accounts while away for up to six months a year? Also, what happens if someone has a home in Canada, has investment accounts and bank accounts in Canada but is away from Canada for more than 180 days a year?
I am Canadian living in Taiwan. I pay 175cad a month for national healthcare+ a comprehensive plan. I go to see any doctor I want. I don’t need to get permission from a family doctor as I did in Canada.
I watched the video and read some of the comments, things made me made me think. History about myself. a, I am turning 50yrs and worked and traveled to every continent except for one Antarctica. I agree we have some good benefits ie health care but comes with price vert long wait times and believe it or not. Doctors take consideration on age, health of the patient for life safeing operations. I can understand that that give care who's has better % for recovery. Taxes I don't totally believe his statement. He didn't mentioned on about quality living ie. Our prices of fuel at the pumps, will include out property tax. I could go on but that is just a few things. But we are lucky to live in a free country, but there are areas our country can improve. Not constantly comparing ourselfs to United States, start with comparing ourselves with G7 and learn from areas from countries excel in certain areas.
It's true that several things in the USA cost less, however when you get sick in America (and you will one day) you need to have good insurance (which costs money) and/or lots of money to pay for your medical bills.
I'd be interested to see how you calculated the taxes... Florida would be more like 7.79% if you figure that it would be typical "retirement income" like real estate income, retirement account withdrawals, etc. because the 15.44% you cited would include FICA (payroll) taxes and that would only be paid if the retired couple were actually working. Also, are you adjusting for the exchange rate? i.e $80,000 USD would be about $100,000 CAD
@@freedomlife3623 partly on tax dollar (municipal, provincial, and federal). Also pension contributions (think CPP) and insurance contributions (EI) - which are not tax. Also government collects fees for certain services they provide. The balance is the big question. And they can make money if they make a surplus - then use it for various things (more services or debt retirement).
@@ParallelWealth good to know! Years ago I considered living/moving to Langley which is not that far from Vancouver and very nice area but houses went up in price to the point that we can no longer afford…hence moving to the Okanagan which is still nice and eventually the place we want to retire at!
Great Video but when I think about taxes I also take under consideration Value Added Taxes and that where the balance scale tips. Most of living south of the boarder is lower.
Canada is the honeymoon capital of the Commonwealth. Lots of raw beauty, fresh crisp air, fantastic infrastructure - 24 hours running water, electricity and excellent internet infrastructure. That's something that I agree.
Terrific video Adam! Thanks for reminding us why it is great to be a Canadian! This is a terrific country to live in and we do have an effective medical system when you need urgent care. I agree with the comments on scenery as my wife and I live in BC and have travelled right across this country and are amazed by all Canada has to offer.
With respect to the tax rates you mentioned. Does that include both Federal and Provincial/state taxes?? Seems a bit low. I think Ontario for 40k annual income, I thought it would be around 19% ?? What did I miss?
@@KrikitKaos perhaps but it should be stated. Also it would be good take cpp and EI into consideration as it's also an "income tax". In the end I think we are about 3% more than the US on average. So the value is still very high to retire here. Especially taking health care into consideration as we age.
Average tax rate, not marginal. turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp# Run it here and you will see. Remember not to include the CPP payments - you are retired and not paying in. Just focusing on tax here.
Hello. My wife and I have bought land in BC and plan to retire there from the US. I am dual citizen and she is seeking permanent residency. We live quite well here and our biggest concern is receiving an equivalent quality of healthcare in BC. Are the supplemental healthcare insurance plans to MSP or is it possible to blend our US coverage with MSP? Thank you
80k is a lot of money if you don’t have mortgage and car payments. Public transportation is wonderful! I’m not officially retired and I’m spending $500 USD or less in a month here in Philippines n this includes amenities and food. I live in a subdivision and my house and car are paid for 🙏
l love to watch your shows. I have a question for your regarding RRPS/RIF beneficiary. If someone passed away, doesn't his/her spouse as the beneficiary get the RRPS/RIF funds into his/her own RRPS/RIF accounts? Are there any tax consequences as RRPS/RIF beneficiary?
As a 60-year-old American pondering retirement locations, I've visited the GTA over 11 times...and I will admit that Canada is very high on my list of places to retire. I've made and maintained many close friends, and Its people and culture are much more aligned with my own beliefs. I have the utmost respect for Canada and truly plan to make it my retirement home. Very good presentation! However, I couldn't stop noticing the creases in the flag...As if it had been taken out of the box & hung just before filming. :)
I'm sorry, but Canada's health care system is no more, no less "phenomenal" than in any other industrialized country. Plus, there are waiting lists. Canada is too expensive to retire to and the winters are awful. Also, Canadian pension amounts are abysmal compared to other countries.
No taxes are not lower because we are taxed on everything including the carbon tax which increasing prices on everything! Then look at housing cost and utilities cost actually Philippines tax rate is 25% because Canada agreed to have this tax rate for Canadian living world ! You didn’t talk the high rate for telecommunications internet and TV !
So what would a Canadian retiree do to land in jail in the Philippines? Maybe start a truck Convoy and block the roads leading to the Capital to stop mask mandate and Covid shots? There are so many activities a retiree does that can land him in jail in other countries like grunting too loud while playing Pickleball
What are the tax consequences of retiring in a place like the Philippines and giving up my Canadian residency? For example, if I give up my Canadian residency, am I able to withdraw my entire RRSP and just pay the 25% withholding tax?
There is a lot of "Retire Abroad" themed content on RU-vid.Much of it made by US citizens who take their meager Social Security payments and live in Mexico, South America, or SE Asia in reasonable comfort on under 2000 per month. Their cost of living is very low, and the biggest saving often referred to are medical costs. Canadians won't really see that saving.
Healthcare in Canada is better than in the US for most people but outside of that it is worse than almost all developed countries in terms of accessibility and patient outcomes (OECD) due to its rigid and bureaucratic government monopolies. So I don't think it should count as a reason to retire in Canada. As for freedom of speech.... well, C10, C36 do not bode well for that. And Trudeau's spending binges are liable to get us out-of-control inflation as we experienced in the 1990's, which is not great for retirees on a pension. So frankly, not very convincing.
Our health care system is free….but it is inexistent. Have you been at an emergency dot at any hospital in Canada. Do you know that many canadiens are travelling for surgeries aboard?
George, just got back from the States and was in and out with one of my kids in 25 mins for a nominal fee - what a great experience. Last visit to hospital here in Canada was 8+ hours.
NEWly subscribed, liked & belled. Thank you! I'm researching this very topic because of the large far right movement here in U.S. If I come to Canada with all my funds for retirement, NO income other than CDs if you all have that up there. I would be just living off savings. And scenario one, I purchase a 1 bedroom home in Canada, can you give me any idea of roughly/ball park what I am looking at in annual taxes? Scenario two, or if I rented a 1 bedroom apartment instead of owning my home? thank you. James US Also, can you point me in the direction of who to call or what video to view....if I were to move there, I do NOT think I could ever navigate that process myself. Is there an agency or US citizens who have moved there that will help guide a new US immigrant thru all the hopes, and won't rip me off? :) I imagine that Vancouver would be the most expensive area for me to live?
People always forget about travel insurance for health when travelling both within & outside of Canada. Don’t rely strictly on provincial healthcare because costs vary across the country. Then if the USA is your destination then be prepared to pay the big buck for 2nd or 3rd party health travel insurance which really escalated with age & or preexisting health concerns. Two weeks for two people in Canada was less costly than 5 days in Michigan for the identical coverage same insurance company. Also less health & medication questions to answer on the phone. Great advice Adam & fully agree if Canada is not #1 I’m not sure what country is & this from one who has travelled to many countries around the world.
Adam thanks to your video on 5 mistakes people make on TFSA I contacted our institutional brokerage house & changed my wife’s new TFSA beneficiary to ‘successor holder’ designation & at the same time discovered my TFSA had no designated beneficiary except my estate. I (we) took this opportunity to add ‘successor holder’ on mine & add power of attorney (POA) to each other’s TFSA. Thanks again for your informative videos as I’m working my way through the relevant ones on your channel.👍
When I looked into retiring in Canada (in case Trump was re-elected), it looked to me that it was an easy country to immigrate to, if you're still willing to work, but very difficult to gain entry if you just want to be retired and not work.
I don't want to be negative, but....others from/born in other countries should devide if Canada is a good place to retire, not the Canadians, let alone those benefiting from expats moving here.
I see your point and I agree with you. If you only know Canada, you think is the best place to retire. I’d love to retire here but I don’t think I can afford it, especially Vancouver area. The cost of living is so high and the pensions are very low
Canada has a nice balance of freedom and safety. Other places may have less regulation and more freedoms with things like guns, but they also come with less safety.
I think Canada could be great again. Due to massive debt spending by the far left socialist Liberal government, taxes and the cost of living will no doubt need to be increased. Debt servicing will go to $35 billion annually with no signs of slowing down. A friend with dual citizenship recently moved to the high taxed state of California. He said he gets more bang for his buck and is taxed less than what he was paying in Canada.
