Wolfgand is a 63-year old widower who is an engineer by profession. He earns a salary of $110,000 whichi s more than sufficient for him to meet his lifestyle expenditures and to set aside money for savings. Health permitting, he intends to continue working to age 75. During his working life, Wolfgang has accumulated $850,000 in his RRSPs, $365,000 in non-registered savings and he owns his house valued at $600,000. At what age would you recommend Wolfgang transfer his RRSP assets into a RRIF?

Answer rating: 100% (QA)

The decision of when to transfer RRSP Registered Retirement Savings Plan assets into a RRIF Register... View the full answer