Do you have a Registered Retirement Savings Plan? What happens at age 71?

A Registered Retirement Savings Plan (RRSP) is more than just saving up for life after your working years. It can also be an investment vehicle that will allow you to grow your savings and realize that retirement lifestyle you’ve been dreaming of. At 71 years of age, it is time to convert your RRSP into a Registered Retirement Income Fund (RRIF) that you can liquidate and use to support your needs throughout retirement. The growth of an RRSP is determined by its contents. Simply having money in an RRSP is not a guarantee that you may retire comfortably; however, it is a guarantee that the investments will compound without being taxed, as long as the funds are not withdrawn. Whether your retirement is decades away or is right around the corner, our experienced financial advisors can assist you in finding the right products to help prepare you for life after your career.

Not sure what a RRSP is or how it can help? Contact a Granite Financial RRSP professional today. We make wealth management simple!