Category: Retirement Planning

While RRSPs help you grow savings tax-deferred, RRIFs require you to start drawing income and paying taxes, often affecting government benefits and estate planning. Understanding how and when to convert your RRSP into a RRIF is key to avoiding costly surprises.

What are Individual Retirement Accounts? Canada has many types of retirement accounts that are available. The most commonly discussed around the water cooler are the TFSA and RRSP. However, there are many more to note. You may even have one of these or end up with one in the future. There are LIRA accounts which…