A wide range of options

The money in an RRIF can be converted into a number of different savings and investment products without restriction. You can invest in bonds, indexed guaranteed investments in which the capital is guaranteed, mutual funds or even stocks. If fees are involved, they are usually offset by the greater returns.

Before investing, you should decide on your financial goals, ideal returns, optimal term(s) and time frame for accessing the money, as well as your tolerance for market fluctuations.

Moreover, as you will need to withdraw amounts from your RRIF on a monthly or annual basis, you may want to place some of your savings in a personalized pension fund. This money is always accessible, and what you do not use can be invested in the medium to long term.