RRIFs Part 2: What happens at end of life?
In our previous post RRIFs Part 1: What are they?, we covered some RRIF basics. We said that while an RRSP is designed to receive contributions, a RRIF is designed to be used only for withdrawals, with very limited exceptions. The most common exception is when a RRIF receives, aside from an RRSP rollover, a […]
RRIFs Part 1: What are they?
Maximizing cashflow during retirement means using a combination of investment vehicles. While RRSPs are a commonly used tool towards that goal, it logically follows that most retirees will eventually own a RRIF. RRIFs are similar but have their own unique features. RRSP vs RRIF A Registered Retirement Income Fund (RRIF) is essentially a continuation of a […]
It’s Back to School Time!
Family members, especially grandparents, often gift RESP contributions to the children in their families. It’s such an easy way to make a real difference in their lives. But be warned: gratitude may not be immediate. To receive immediate gratitude, we suggest you stick to your plan to buy the latest Xbox, Playstation or battery-operated toy. […]
