Carlos Lemus, 65 years old, and his wife, 50 years old, decide that they want to retire and spend the next few years, while they are still able, travelling around the globe and doing research on different cultures. Though it is not their primary aim, they may write a book someday. Carlos will retire as a professor from the university, while his wife, Sheila, is a freelance journalist who makes her income on a per-published-article basis. Carlos has a pension plan from the university, $200,000 in RRSPs, and investments of over $1 million outside of his RRSPs. Sheila has RRSP accounts, including a spousal RRSP of $200,000 contributed by Carlos. She also has around $300,000 outside of her RRSPS. Both have contributed to Canada Pension Plans and are entitled to CPP benefits. In what order must they liquidate their savings to pay for their travel plans, with the aim of paying the least amount of tax? A RRSPS, and then non-registered savings, before the year they turn 72. B Non-registered savings, and then, if required, RRSPS, before they turn 72. C Equal amounts from RRSPs and non-registered accounts. D It does not matter in what order they exhaust their funds.