What would happen in this case?
We all know what's happening in the markets these days. My concern here is..say the markets do a total crash, & a person's portfolio is gone. It is mandatory that people withdraw from their RRIF's each year., but what if there's nothing left?
A person can't withdraw if there isn't anything there? When withdrawals are made, there are tax implications.
What happens in cases such as this??
- JudyLv 73 months ago
Uh, your RMD is calculqted as a % of it's value as of the beginning of the year. even if it was 15%, 15% of zero is zero. And chances of it going to zero, unless you have VERY risky holdings, are, well, zero.
- Anonymous3 months ago
my advice, dont do stupid things right now. it is temporary. Canadians are smarter than this.