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CPP for Self-employed Business Owner - Answering Subscriber Question Many self employed business people struggle with the best use of their business income. Do you retain the cash in your business, pay a dividend plus salary or all salary income? In this video I'm answering How CPP for Self-employed Business Owner works (Subscriber video request) and specifically can I Opt-out of contributing to the Canada Pension Plan CPP? In short, you cannot opt-out of paying CPP. The Canada Pension Plan CPP is a mandatory plan for T4 employment income between $3,500 and $64,900, the 2022 Year Maximum Pensionable Earnings (YMPE). Video Chapters: 00:00 Introduction 01:15 Subscriber Question - Should contribute to CPP or RRSP/TFSA? 02:13 CPP for Self-employed explained 07:10 CPP Cost vs Benefit 11:00 CPP Alternative 13:00 Need for Advice - What is the most effective strategy 13:45 What's your Exit Strategy? 15:10 Business needs vs Personal needs The Four Percent Rule calculator: http://www.fourpercentrule.com If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to schedule your confidential meeting with me. You can schedule your meeting here: https://meetings.hubspot.com/david-aaron ➤ 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄 to our Channel here: http://bit.ly/2lPUJjA ➤ Business Inquiries: ☎️ 1-866-623-8368 📥 [email protected] 🌐 https://aaronwealthmanagement.com/ 📅 https://meetings.hubspot.com/david-aaron ⚡ Connect with David Aaron on Social Media Facebook: / aaronwealthmanagement LinkedIn: / aaronwealthmanagement Instagram: / bizwealthadvisor Pinterest: https://www.pinterest.ca/aaronwealthm... Toronto Mississauga Oakville Burlington Brampton Woodbridge Vaughan Richmond Hill Newmarket Thornhill NorthYork GTA Etobicoke Markham Aurora King City Ontario Manitoba British Columbia Alberta New Brunswick #cpp #retirementplanning #businessowner