Tax-Free Savings Account (TFSA) at the beginning of 2009 has been touted by many as the greatest financial innovation since Registered Retirement Savings Plans (RRSPs) were launched in 1957.
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RRSP
TFSA vs. RRSP
on March 21st, 2011
RRSP Season
on February 9th, 2011
RRSPs are not one particular type of product or investment, but instead can take the form of any number of financial products or investments.
Turning your RRSP into a RIF
on January 16th, 2011
If you’re turning 71 this year, you’ll be required by law to mature your RRSP. There are essentially four ways to wind down your RRSP, each with their own benefits and drawbacks. You can (a) take a lump sum withdrawal, (b) purchase an annuity, (c) convert your RRSP to a RRIF (Registered Retirement Income Fund), or (d) some combination of these options.
