What’s the best way to maximize my RRIF money?

A common piece of retirement folklore says you should pull extra money out of a RRIF early to dodge the large tax bill that can hit your estate, and this piece pushes back on that instinct. Allan examines whether draining a RRIF faster than required actually leaves you, or your heirs, better off once you account for the tax you pay along the way and what the money would have earned if left invested. The surprising answer is that the popular strategy does not always come out ahead. The discussion is a good reminder that minimizing tax after death is not the same as maximizing the value of your savings while you are alive to use them. It is useful reading for retirees with healthy registered accounts who have been told to accelerate withdrawals and want to understand whether the conventional wisdom holds up in their situation.