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rrsps have options econoakbtstribju february 26 1986 reh 111 the whole idea behind a registered retirement savings plan is to provide you with steady income once your plan matures which it does the day you turn 60 this doesnt mean you must retire at 60 it simply means that you now have a few options as to what you want to do with the funds in your plan of course you can leave your rrsp intact and go on making contributions right up to the end of the year you turn 71 but if you still havent converted your plan by that time your options run out this means youll have to take the whole thing in a lump sum and pay tax on it right away so thats a situation you may very well want to avoid now about your options when your rrsp matures you can use the funds to buy one of three things a life annuity a term certain annuity or a registered retirement income fund rrif or you can buy an combination of those three its up to you life annuity this can only be purch ased from a life insurance company the term may be for your life only straight life or for the joint lives of you and your spouse joint and last survivor with or without a guaranteed term this guarantee can be any number of years you choose but can not exceed in years 90 minus the age of the younger spouse the longer the guaranteed term of course the lower the annuity payments will be term certain annuity this general ly pays more than the life annuity ev erything else being equal but as with any annuity the shorter the term the higher the annuity payments you re ceive you can buy this type of annuity from a life insurance company a trust commercial for sale c 2 highway com mercial property fully serviced outstanding corner location on hwy 2 in whitby 100 x 119 with existing building ideal for plaza fast food automotive sales etc call 2940459 private sale unionville open house sun 12 noon 2 pm 4 bedroom executive 3200 sq ft 2v4 baths separate dining room main floor family room with fireplace 2 main floor walk outs den and laundry room large 8 1st mortgage due june 1990 oversized lot call evenings weekends 4772372 east realty ltd 2913988 toni sullivan 2919988 or 2455544 alpha 91150 new listing 164900 close to markville plaza and arena 4 bedrms huge fam rm 3 washrooms greenhouse nook neutral decor 1 year new wont last 142900 1950 sq ft 4 bedrms main fir laundry and fam rm fireplace skylight in ensuite kitchen loaded with cupboards breakfast nook huge rec rm company or from other carriers of rrsps like banks registered retirement income fund strictly speaking the rrif is not an annuity at all as the name suggests its a fund these too are available through trust and insurance companies and credit unions here again a rrif can only be set up between the ages of 60 and 71 and the maximum term in years can not exceed 90 minus the youn ger spouses age rrif payouts are based on a specified fraction of the total fund each year for example if you set up a rrif at the age of 60 this means it has 30 years to run so the first year you get l30th of the total fund the second year v49th the third year v48th and so on until the fund is exhausted by the end of your 90th year but no matter what option you choose shop around very carefully look for the one that pays the most for the longest period ltd w realtor specializing in tile small town country lifestyle 10 acre treed buk permits av squ 39900 vest of uxbridge brian meharg tennis anyone enjoy a game 8i then cool off in an 18x36 inground pool 1800 sq ft custom built bungalow on 10 acres overlooking ux bridge 3 bdrms fireplaces beautifully landscaped priced to sell at 169900 wanna build 225 acres high dry 42900 475 acres trees 74000 10 acres secluded estate lot 129000 100 acres rolling with pond 99000 15 acres minutes from stouffville 165000 other lots available for more information on the above call brian meharg off 6403131 res 6405000 hobbyist dream 179900 charming 3 or 4 bdrm cen tury home lge living din ing rm 1 vi baths 3 car gar age heated 1000 sq ft workshop pond completely fenced treed acre ven dor will take back open 1st mtge 11 bethesda- warden area frank or conny hippmann off 6403131 res 6401149 bldg lots reduced 5000 8 acres 25 x 50 shed trees stream large fron tage 6 acres rolling ter rain trees both located in secluded area call joanne mcneill off 6402600 res 8525813 beaverton dairy farm move right in take over this modern setup 100 acres of good tile drained land with one of the finest built brick homes in the area asking 219000 for more informa tion call rodney king off 6403131 res 6402876 unionville north 219500 4 bdrm country charmer on mature landscaped acre with betz pool stone fireplaces beams big bright kitchen extra garage workshop to view please call john or nor ma larkin off 6403131 res 6403591 brick bungalow acre 169900 nestled in evergreens back ing onto golfcourse this 3 bdrm home features 1 vi baths bright rec room with fireplace rare find warden- bethesda frank or conny hippmann off 6403131 res 6401149 stouffville lakefront the home for a profession al or retired couple profes sionally landscaped totally renovated sunny spacious rooms include gourmet kitchen den with walkout to deck quality 1 1 7500 nor ma larkin off 6403131 res 6403591 bo jensen mary muir of safeguard real estate takes pleasure in congratulating dianne woodcock and bo jen sen on their tremendous achievements in january and february their hard work and dedication made these dynamic results possible to provide even better service dianne and bo work as a team from the markham office forall your real estate needs call the first team at 4714900 dianne woodcock be first to move in april 30th possession 3251 sq ft of unionville luxury marital separation forces sales of new bramalea home across from library premium pool plus lot backs on to estate lot 1 minute walk to his toric main street 4 bedrooms 3 ensuites plus main floor powder room library excep tional fireplace in family room oak staircase open to basement asking 260000 valued much higher call bob muir 4779449 private sale v j