The Canadian Securities Administrators (CSA) issued an urgent warning to investors regarding a surge in “ramp-and-dump” stock scams. Orchestrated through fraudulent investment …
A Life Income Fund (LIF) 1 is a retirement income plan using locked-in pension money and the owner of the LIF can control the investments held within the fund.
In addition to the requirement for a minimum annual withdrawal (like a RRIF), LIFs also set a maximum withdrawal amount.
Your annual withdrawal must be within these minimum and maximum amounts as specified by legislation. In most provinces, when the LIF holder reaches age 80, the LIF must be converted into a life annuity.
The easiest way to think of a LIF is that it’s a RRIF for your locked-in pension money, with a few more restrictions designed to ensure that you have income available for your lifetime.
LIFs vary slightly from province to province, and are not available in P.E.I. and the Northwest Territories. Most provinces require you to have reached age 55 before you establish a LIF, but there is no age restriction in New Brunswick, Quebec, and Alberta.
The Canadian Securities Administrators (CSA) issued an urgent warning to investors regarding a surge in “ramp-and-dump” stock scams. Orchestrated through fraudulent investment …
Have you ever been tempted to invest in a stock just because of its past performance? It’s a natural instinct, but relying on it can be risky. Markets are cyclical; what soared yesterday might stumble today.
A wedding day marks the beginning of an exciting journey, but couples often overlook their financial future. As you start this new chapter together, it's essential to discuss your goals and dreams, incorporating them into a solid financial strategy.