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New member with question

1K views 4 replies 3 participants last post by  MrMatt 
#1 ·
My first post here. I have been checking out this forum and decided to join. I hope to contribute but think it will be mostly me seeking answers.
I have been investing for 10 months now.
My first question.
I have a RRIF which I hold in cash. I would like to do a self directed RRIF and purchase stocks. If I have only stocks in my RRIF and it comes time to make my annual withdrawl how is it paid when only stocks can be drawn on?
I hope this makes sense and thanks.
Tom
 
#2 ·
My first post here. I have been checking out this forum and decided to join. I hope to contribute but think it will be mostly me seeking answers.
I have been investing for 10 months now.
My first question.
I have a RRIF which I hold in cash. I would like to do a self directed RRIF and purchase stocks. If I have only stocks in my RRIF and it comes time to make my annual withdrawl how is it paid when only stocks can be drawn on?
I hope this makes sense and thanks.
Tom
You will need to sell some stock to make sure there is adequate cash in the account for the scheduled rif withdrawal. if you don’t do this, at some point, the brokerage will sell stock for you to make sure the cash is available.
 
#5 ·
It's a good idea to have a cash position, look at the stock market for the last year.
There are a lot of ratios recommended by age.
But I'd suggest at least your minimum required annual withdrawal be in cash, as an absolute minimum plan.

Beyond that I think you should have the next few years set up in fixed income.
 
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