CALGARY — For Canadians who’ve made faithful contributions to an RRSP for most of their working lives, converting it to an RRIF may seem a terrifying milestone.
Overnight, your nest egg that has steadily grown for decades becomes a declining asset, with a government-mandated, taxable annual minimum withdrawal to ensure its gradual depletion.
Retired investors might decide they need to make big changes to the investment mix in their registered retirement savings plan (RRSP) to brace for the feared impact of its conversion to a registered retirement income fund (RRIF).At that time, it’s best to take a deep breath, talk to […]
Full Post at www.thechronicleherald.ca