I’m turning 71 and I have to what with my RRSP?

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Financial Planner Ines Iraoui joins the podcast to discuss registered retirement income funds (RRIFs), including:

  • Why is 71 an important age in financial planning?
    • Can you convert your RRSP at any point?
    • What about Locked-in RRSPs?
  • How do RRIF withdrawals work?
    • Are there minimum amounts for withdrawals?
    • What about the maximum? You said there isn’t any?
    • What about Locked-in LIFs minimums and maximums?
  • What do these withdrawals mean for your investments?
    • A portion?
    • Why?
  • How does it affect retirement income?
    • What can individuals do to minimize the taxes?
  • Are there tax advantages that come with these withdrawals?
  • Can individuals continue to make RRSP contributions when they turn 72?
    • How does that work?

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