Retirement RRSP options and income planning guidance
The piece outlines key retirement planning questions such as longevity, inflation, spouse protection, and taxes. It compares four RRSP payout options, favoring RRIFs for control and lifetime income, with advice from BBC Investments’ Jennifer McDonald.
MENTIONED IN THIS ARTICLE
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RRSP tips for retirees keep your plan working hard
Retirees can keep RRSPs active beyond fulltime work. Contribute long as you can and use unused room from earned income. Consider spousal RRSPs, RRIF options, annuities, or cash withdrawals with tax implications. Consult a financial advisor for jurisdiction rules and limits.
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