RRIF withdrawal rules

RRIF, Annuity, or Reverse Mortgage: What Fits You?

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Short Answer: A RRIF keeps you in the driver’s seat with flexible, self-managed withdrawals. An annuity trades that control for a guaranteed paycheque for life. A reverse mortgage lets you unlock cash from your home without selling it, but it eats into the equity you leave behind. None of the three is automatically “best.” The … Read more

Annuities, RRIFs, and Reverse Mortgages in Canada

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Which Retirement Income Option Is Right for You: Annuity, RRIF, or Reverse Mortgage? Short Answer: Most Canadians approaching retirement will meet three big income options: annuities, RRIFs, and reverse mortgages. An annuity trades your savings for a guaranteed cheque for life. A RRIF keeps you in the driver’s seat but comes with mandatory annual withdrawals … Read more

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