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    Categories: Retirement

Why should I switch my RRIF to an annuity?

RRIF to Annuity

Why should I switch my RRIF to an annuity?

At one point in time we start looking for income that will last forever, looking for a secure and stable income that we cannot outlive.

Switching to a single life annuity or a joint life annuity will provide guaranteed  income for the rest of your life and your spouses.

Top 10 Reasons:

Why You Should Switch
from a
RRIF to a Life Annuity
?

 

1. Capital Erosion with a RRIF

2. Better Return with an annuity

3. Peace of mind – level Income for life

4. Mortality – cannot be outlived with an annuity

5. Simplification – same payment every month, forever

6. Insurance – annuity is guaranteed

7. Usually pays higher income than RRIFs

8. No Management decisions necessary to manage your money

9. Security – Future income is guaranteed with an annuity

10. Ongoing Investing not necessary with an annuity

Not convinced? Watch our video on Should I buy a life annuity or a RRIF?

Posted by: Phil Barker: Phil is a leading expert in life annuities in Canada. His website Life Annuities.com is a recognized authority on annuities. Recently, he's been redefining how annuities are sold in Canada.