An RRSP allows you to make tax-deductible contributions to the plan in the years prior to retirement; whereas, an RRIF allows you to make withdrawals from the plan to provide income during retirement. RRIF is an investment vehicle that provides you with regular income during your retirement while still allowing tax-sheltered capital growth. It is also an effective and flexible way to withdraw cash from investments formerly held in your RRSP.

You don't have to sell any of the assets in your RRSP. Assets may be transferred in kind from your RRSP to an RRIF. See similar questions...

Yes. Managed futures are an ideal way to further diversify your RRSP and offer exposure to global markets. Moreover, Tricycle provides the option of transferring your RRSP in Managed Futures Notes into a self-directed RRIF. Certain restrictions apply for meeting withdrawl requirements. Please refer to Section 6 of the RRIF application. See similar questions...

An RRIF is an investment vehicle that provides you with regular income during your retirement while still allowing tax-sheltered capital growth. It is also an effective and flexible way to withdraw cash from investments formerly held in your RRSP. It provides inflation-adjusted income through your retirement or as long as you have assets in your RRIF. See similar questions...

Existing RRSP holders are eligible to convert this investment into an RRIF at any time. When you turn 69 years old, however, you must convert your RRSP into one of the following retirement income options: an RRIF, cash withdrawal, life annuity, or fixed-term annuity. You can also choose any combination of these options to meet your needs. See similar questions...

One of the major benefits of an RRIF is flexibility. RRSPs can be converted into an RRIF at any time. See similar questions...

While Revenue Canada requires you to withdraw a minimum amount each year, you can take as much income as you need. The minimum withdrawal amount starts at 4.76% of the total value of the RRIF at age 69 and increases incrementally to 20% by age 94. You can adjust the amount and the frequency of the payments you receive. Monthly, quarterly, semi-annual or annual payments are all options - as are lump-sum withdrawals. See similar questions...

A registered retirement savings plan (RRSP) mortgage, is a loan from a self-directed RRSP secured by a mortgage against land. See similar questions...

You may overcontribute in any year by $2,000 without any adverse tax consequences. If you make excess contributions greater than $2,000, they may be subject to a penalty. We keep records of your RRSP contributions on hand which can be a valuable source of information for you. See similar questions...

Making maximum contributions is the best option in order to capitalize on the tax savings in the year of the contribution. See similar questions...

This is a deposit, which is made into your spouse’s name, but the income deduction is taken in your name. Later when the funds are withdrawn the income will be taxed to you. Care must be taken as withdrawing the funds too early will cause attribution of the income back to the contributor. See similar questions...

A named beneficiary will allow proceeds of your RRSP to flow outside your estate in the event of your death. This will save you costs such as probate fees and executor fees. See similar questions...

A locked in RRSP is a plan where the funds were derived from a past pension plan. If you have left a company where you participated in a pension then you may move any portion that you own to an outside account, this will be a locked in RRSP. The rules are different when it comes time to draw an income from these plans, generally the money may not come out till after age 55 and is subject to minimum and maximum withdraw amounts. See similar questions...

This depends on the current interest rates, what your expected rate of return will be, and of course your budget. Most financial planners will agree that you should as long as the amount borrowed can be repaid within one year We are obligated to inform you that the product descriptions and information that follow are intended for educational purposes only and are not to be considered as a solicitation to purchase any security. See similar questions...

Pensions are protected under Federal legislation as are. RRSP’s that are not pension roll-overs, or are held by life insurance companies. All other RRSP's must be paid over to the Trustee to distribute to your creditors. If you have a non-life insurance funded RRSP, you should discuss your rights with your agent and with your family solicitor. See similar questions...

Quite simply what R.R.S.P. investing is about, is holding real estate mortgages as investment vehicles under the umbrella of your R.R.S.P. account. Look at your R.R.S.P. as a separate and distinct individual. See similar questions...

Mortgages must be placed on "Real Property" that is, residential or commercial property located in Canada registered at a Land Titles Office. Some property types such as mobile homes, boats, leasehold land, co-ops and the like, (typically called Chattel Mortgages) are NOT eligible to be a qualifying investment under the Income Tax Act. 'Agreements For Sale' also do not qualify. See similar questions...

This information is reflected on the bottom of your Notice of Assessment. It will tell you if you have any room and if you have any undeducted contributions. We will also tell you in the cover letter we enclose with your personal tax return, or you can call the government automated service TIPS at 1-800-267-6999 with your prior year personal tax return in hand. Call us with specific questions should you have any. See similar questions...

Loan proceeds must be funded to the RRSP associated with the pre-approved loan. To fund to a different RRSP, a new application must be completed and the loan is no longer pre-approved. See similar questions...