The right time to start drawing from your RRSP/RRIF and non-registered investments

Once you have built up savings across registered and non-registered accounts, the next puzzle is the order in which you spend them down, and there is no single switch that works for everyone. This piece encourages you to step back and look at the bigger picture, thinking in terms of family wealth and lifetime tax efficiency rather than just this year's bill. Drawing thoughtfully from an RRSP or RRIF, taxable investments, and tax-free savings can smooth out your taxes over the long haul and affect how much eventually passes on. Keep in mind that an RRSP has to become a RRIF by the end of the year you turn 71, which puts some structure on the decision. It is a valuable read for retirees and couples who want their withdrawal sequence to serve the whole plan, not just the moment.