With rates as low as 1. Terms and conditions apply. Our Retirement Income Fund Calculator can give you an idea of how long funds in a Registered Retirement Income Fund RRIF will last, and provides withdrawal minimums and payment options based on the length of the investment. Please consult with one of our wealth management professionals to review your investment objectives and make recommendations that fit your needs. Vancity does not make any express or implied warranties or representations with respect to any information or results in connection with this calculator.
Vancity will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results. This calculator is made available to you as a tool for independent use and is not intended to provide investment advice. Actual results may vary, possibly substantially. We cannot and do not guarantee its applicability or accuracy. All examples are hypothetical and are for illustrative purposes only.
The content generated by this tool does not constitute investment advice. You should speak with your professional accountant or other professional advisors before making a final decision to ensure any strategy meets your overall financial needs and that your personal circumstances have been taken into account.
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Is there a minimum amount needed to set up a RRIF? There is no minimum amount to open a RRIF. No, a RRIF is only available for a registered account. You've spent years saving for your retirement. Now, you can enjoy the benefits of these savings to help maximize your retirement income.
A financial expert from your local credit union can help set you up for success. Connect with your local credit union. Fixed costs Costs that do not change with varying output e.
Variable cost Costs incurred to create a unit. Related Articles Want to learn more about savings and retirement? Guide to Homebuying Purchasing your first home is no easy task. Read More.
Why you should care about the RESP contribution deadline The RESP annual deadline is December 31—and if you have kids, there may be a few good reasons to set aside a bit of extra cash in your plan before year end. How much should you really spend on an engagement ring? All Rights Reserved. See Reproduction of information from TaxTips. Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage.
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site. Calculate Reset Print. Fixed Withdrawal. Fixed Withdrawal Max Withdrawal Help.
Fixed Annual Withdrawal Type amounts into yellow cells. Maximum Withdrawal for X Years Type amounts into yellow cells. Balance in RRSP at beginning of year. Type amounts into yellow cells. Age at Dec 31 prior year end, or younger spouse's age if you have elected to use it. See our article about using the age of a younger spouse - right-click to open link in a new tab or window. Convert to RRIF in year in which you turn or turned , or your spouse turns or turned.
What amount would you like to withdraw annually? Fixed Max. RRIF factor. Estimated rate of return. Rate of return used. Convert to RRIF in year in which you turn or turned , or spouse turns or turned.
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