Investment Insights Portfolio Strategies

Understanding the impact of when and how you withdraw from your RRIF will help you make the most of your retirement income.
CIBC Investor’s Edge Aug. 05, 2021 4-minute read

1. Know how much you’ll need

2. Estimate how much income you will have

3. Making RRIF withdrawals

4. Tax considerations

Don’t take payments before you need them

Consider the benefits of tax-deferred growth

Invest extra in a Tax-Free Savings Account (TFSA)

Base the minimum payments on the age of a younger spouse or partner

Look into income-splitting strategies

5. Understand the impact to your government benefits

6. Choose an appropriate investment mix

7. Consider taxes that may arise upon your death

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