Time to convert?

Question: I have a investment coming due in a very short time and will be 67 in February. I have to make some choice as this investment is in a RRSP. I would like to obtain some information or advice on RRIFs or other choices that I might have.

Answer:

You don’t have to convert your RRSP to a RRIF for another couple of years (the end of the year you turn 69). So you should invest the money in a security that will be suitable both for the RRSP, and for the RRIF later on. We can’t tell you what to select, since we have no idea of your total portfolio, future cash needs, risk tolerance, etc.