Money for life? You heard that right
Hello! From fabulous Moose Jaw where it feels like summer again. Well, maybe a nice late spring but the weather is fantastic which I wasn't able to say about a month ago.
I've spoken about this topic before and specifically for this blog post, I am going to be referring to clients who are already RRIFing their retirement savings AND only taking their minimum payments out each year. If you're not one of those people, you can move on to my social media sites where I try and be a little more light and post some good articles and links to videos that will make you smile. This is serious stuff over here!
** if you are not at RRIF age yet, we can still discuss this investment option. I'll write another post later covering this retirement savings scenario.
If you are one of thousands and thousands of people, or you know someone, who is only taking their minimum payments out of their RRIFs each year and investing in GICs, this post is for you. In this current low interest rate environment, the GIC rates that you are earning are no where near earning you the returns needed to beat the withdrawal percentage that the government legislates you take out of your RRIF account/s each year. Eventually, you just may run out of those funds and then, no more minimum payment each year.
But, what if I told you I could change that scenario and provide you with 'money for life' or 'your minimum payment (or something like it) for life'?
Here is all you need to convert your RRIFs to provide you with 'money for life':
- be 80 years of age or under (age 71 is when your RRSPs need to change to a RRIF)
- have a minimum of $10000 to invest in the form of a RRIF investment
- never have the worry that your money is going to run out, ever again
If you think you meet all three of these criteria, let's have a chat. I can guarantee you money for life and I can show you how you can do it. You may even tell me that you can't believe it and that it's too good to be true...
When all of us are living longer lives, we all need options to ensure that our funds live as long as we do. If you have a RRIF, invested in a GIC, let's talk about providing you with YOUR Money For Life. Click on my booking link above or you can call the office.
See you soon!