Are you a Canadian looking to secure your financial future? If so, you may have heard about something called a RRIF, or a Registered Retirement Income Fund. But what exactly is a RRIF, and how can it benefit you?
First things first, let's start by defining a RRIF. Simply put, a RRIF is a type…
There are several mistakes that people make when taking distributions from their RRIF retirement accounts in Canada. The most common ones are as follows.
Taking Distributions Too Early
In Canada, you are generally required to start taking minimum annual withdrawals from your registered retirement income fund (RRIF) at age 71. However, if you are still…