Investment and Retirement
Ten ways to maximize the advantages of a RRIF
When the time comes to convert a Registered Retirement Savings Plan (RRSP) to a Registered Retirement Income Fund (RRIF) for the purpose of generating an income, several questions may arise.
Many of these questions should actually be addressed before reaching the conversion age limit:
- What is the desired income at retirement?
- What is the current level of savings?
- What are the current economic outlooks, and which ones will prevail in the mid- and long-term?
- Are minimum expenses covered by recurring income?
- How to get the maximum tax benefits from a RRIF?
To learn more, refer to the document “Ten ways to maximize the advantages of a RRIF”.