It did take me a good 60 days to unlock LIRA. 1/2 went to my RRSP/RIF and other half went into LIF with min withdrawal limits. Yes withdrawals are all taxable based on all income sources. Remember you don't pay fee for RRIF but do pay up to $50-75 if want to remove from RRSP the one half. Pro Tip does not affect space as already factored in with your contributions over the years. Think about it one to put in and other to take out. Deregulation fees are normal on RRSPs why put 70% to RRIF and kept 30% RRSP so could invest from 58 to 71 then have to change to RRIF mandatory.

An Exclusive from Retirement Is Us—Laba dabba do! Are you stuck? Oh I pay cash for everything!!! Look at me pulling stack of cash showing everything I own in my pocket. When your done playing Mr. Bigshot or the wheel in front of your friends then you go I got nothing left at the end of the month !?! O cry me a river Mr. Bigshot Millionaires constantly look for opportunities to use other people's money, getting a piece of the action. Oh, you keep telling yourself "Cash is King" when the Kings of the world use your money. Yeah, right. You tell me you've got "no money" to invest? Why not get a credit card that gives you straight cash back? You take that free money, put it into an RRSP first, and then use your tax return to fund your TFSA! So hey, Mr. Show Off, whining, "Oh, I can't start investing, I have no money", you're still walking around saying Cash is King? Give me a break. Unless you are running an illegal underground operation, hiding from your WIFE | HUSBAND or the government, or living entirely off the grid in a cabin, clinging to cash is pure financial madness. You keep telling yourself cash is king? Wake up. You're leaving money on the table, and frankly, it's costing you. Here is the brutal truth about why the smart money uses plastic, apps, and other people's money to build wealth. But wait caution first look Mr. Laba O I don't use carry cash but use my Debit Card. The Debit Card Disaster First off, if you are walking around swiping a debit card for your daily purchases, you are playing Russian Roulette with your liquidity. Debit cards offer zero real security. You swipe that piece of plastic at a compromised gas station pump, it gets skimmed, and boom. How do you like that now KIK kiss your money good bye zero Insurance. Your actual, hard-earned checking account is drained. Seen all too often with old school Aunts and Uncles. What happens next? You shut down the card, your account is frozen, and you are left completely stranded while the bank takes its sweet time investigating. Cry beg plead on your knees...Help me Cash is King Mr. Banker.