037 | The $9,000 Myth: What CPP Really Costs You w/ Aravind Sithamparapillai
If you're an incorporated chiropractor, you've probably heard the pitch from your accountant: pay yourself dividends instead of salary and save roughly $9,000 a year by skipping CPP. But is that actually true? In this episode, Chris and Scott sit down with Aravind Sithamparapillai of Ironwood Wealth Management — a CFP who ranked first nationally on his exam and has done deeper work on Canada Pension Plan than just about anyone in the country — to pull apart the real math behind the salary vs. dividend decision.
You'll learn why the true cost of "opting out" of CPP is closer to $5,000–$7,000…
The skinny
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