A Registered Retirement Income Fund (RRIF), is a great way to transition your RRSP. Not everyone is aware that you cannot keep your funds in an RRSP forever. With that being said, RRIF is a way to convert your RRSP into a stream of income in order to fund your retirement. This plan prevents you from withdrawing all of your funds from an RRSP, which then results in a large tax bill.
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