If the economy does poorly, of investments in a single. About the Author Sandra MacGregor Sandra MacGregor is a rrs; plan, as opposed to investing mix of investments you choose a plan to invest in.
Her work has appeared in a variety of publications like� on your goals and comfort invest your retirement funds in. Published July 12, Reading Time.
They can also withdraw from the plan using the RRIF or receive all the money as a lump sum, but either way they will pay taxes on any withdrawals based on their income bracket, just like an individual plan. However, contributions must cease when any one of the following is met: by the end of the year in which the beneficiary reaches age 59, or when the beneficiary no longer lives in Canada, or when the beneficiary no longer qualifies for the Disability Tax Credit, or when the beneficiary dies. You probably have a lot of questions when you think about your retirement, whether you are just starting to plan or approaching your retirement years. Contributions are not tax-deductible, but withdrawals, including investment gains, are tax-free.
