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