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Ep #124: Understanding RRIFs: Strategies to Save on Taxes and Boost Income
Joe answers the most common questions about Registered Retirement Income Funds (RRIFs) to demystify how they work and their role in retirement planning. He explains the differences between RRSPs and RRIFs, minimum withdrawal rules, tax implications, beneficiary designations, and strategies to minimize taxes while maximizing retirement income. With practical tips on income splitting, leveraging the pension tax credit, and aligning your RRIF investments with your retirement income style, this episode provides actionable insights for anyone preparing for or navigating retirement. Learn how RRIFs…
The skinny
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