• Designed to provide retirees with a source of income after they retire
  • Usually comprised of the funds that roll over from an RRSP, as an RRSP cannot be kept after the year in which the plan holder turns 71
  • The funds in a RRIF can only be sourced from another RRIF, an RRSP, or another pension plan
  • The capital and earnings in a RRIF accumulate tax-free, but is subject to tax upon withdrawal
  • Any amount of money can be withdrawn from the fund at any time, but any amount over the minimum will be subject to various degrees of withholding tax

Saving for Your Retirement

“How much is enough?” is likely to be a question near the top of your list when considering retirement savings. A Tradex advisor can provide a detailed, no-obligation plan that will meet your retirement goals.

Here are some of the common investment options for your retirement:

  • Mutual Funds
  • Segregated Funds
  • Guaranteed Minimum Withdrawal Plans
  • Principle Protected Notes
  • Annuities

Once you retire, you can establish a regular income stream from your investments on a tax-friendly basis. For optimal results, discuss the many options available with your Tradex advisor.

Term Life Insurance

As you transition to retirement, you may wish to review your term coverage needs. This is a good time to sit down with a professional financial planner to rebalance your coverage based on your reduced needs for debt coverage and replacement income. This is also an excellent time to assess estate planning opportunities.

You wish to become a Tradex member ? A Tradex advisor will be happy to help you.