RRIF VS. ANNUITY CALCULATOR

RRIF vs. Annuity - Which one is right for you?


When it's time to go from retirement saving to retirement income, choosing the right investment vehicle is not easy. While Registered Retirement Income Funds(RRIFs)are currently the most popular choice, there are times when it makes more sense to choose an annuity.

RRIFs allow you to maintain control of your investments, but they don't ensure a stable, lifelong income. With an annuity, however, you give up control in return for guaranteed income for life.

There are further considerations for this complicated decision. But the RRIF vs. Annuity tool will help point you in the right direction.

Answer the following questions and consider your options!

1. Do you need guaranteed income? Yes No
2. Are you able to manage your investments to provide sufficient future income? Yes No
3. Would you prefer to get the highest immediate income over long-term gains? Yes No
4. Is it important that you leave as much as possible to your estate? Yes No
5. Are you worried about inflation eroding your investments? Yes No
6. Do you want to minimize risk? Yes No
7. Do you need access to your investment(e.g. in case of emergency or last-minute vacation)? Yes No
8. Does your family have a long life expectancy, and are you healthy? Yes No
9. Do you wish to leave your spouse a stable income with minimal complexity upon your death? Yes No
10. Is growth of your investment your primary goal? Yes No
11. Would you like your investment locked in to prevent you from dipping into your nest egg? Yes No
12. Do you want control over your investments? Yes No
13. Do you want to be able to take advantage of gains in the stock market? Yes No
14. Is simplicity important to you? Yes No
15. Are you concerned about outliving your capital? Yes No
16. Does your retirement income from pensions, investments, and government plans cover your needs? Yes No
17. Do you have a small amount of retirement savings? Yes No


This tool is designed as a guideline only. Use the results to weigh your options when making financial decisions. Please consult a qualified professional before making any final decisions.