The most common question I get asked about the Canada Pension Plan (CPP) is: "Is it smart to take my CPP early?"

And what I say is - it depends, as the answer is contingent on five main factors.

1. How long do you expect to live?

2. How do you invest?

3. What will inflation be?

4. Are you still working?

5. When do you need the money?

In my latest podcast episode I get into more details on how to think about these questions and I give you examples from client case studies.

The answer is complex and CPP is only one piece of your retirement income. The best advice is to look at this as part of a professional retirement plan.