Considerations For When To Convert Your RRSP To A RRIF

Registered accounts like Registered Retirement Savings Plans (RRSPs) can only be used to defer tax for so long. Eventually, an accountholder needs to take withdrawals. Although there are rules around the latest you can wait to make this decision, there can be cases when early withdrawals make sense. There are also different options to consider for the account that can impact your tax planning and investment strategy. RRSP Tax Deferral When you contribute to an RRSP, you can claim...