Latest / The Empowered Investor
Retirement Planning: Understanding your RRIF Options
For many Canadians, the RRSP (Registered Retirement Savings Plan) is the primary driver of their retirement savings.
An RRSP allows you to contribute a percentage of your income each year which, unlike non-registered accounts, can grow in that account while deferring taxes until you withdraw. Later, when you stop working or reach age 71, you convert your RRSP to a RRIF (Registered Retirement Income Fund) and flip the switch from contributions to withdrawals.
In this episode, Marcelo and Lawrence talk about the main benefits of RRSPs and RRIFs, what you need to know about converting your RRSP…
The skinny
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