What are locked in retirement accounts

Img LockDear Ross  Recently a friend asked me many questions about LIRA’s and LIF’s, and I did not know how to answer him. Seems this is more complex than RRSP’s and RRIF”s. Can you help?

Whenever I am asked a question about something I don’t deal with everyday, I look to see if I know a subject matter expert who can provide the necessary information. In this case, award winning blogger, author and retirement specialist Jim Yih provides an excellent overview of locked in retirement accounts. So with thanks to Jim, and the website on which the original article was posted.

www.canadafinanceblog.com is required reading for people who value high quality information about personal finances, and has an all star cast of regular writers, including Tom Drake, Alan Schram, Jim Yih, and Nelson Smith.

Here. for your reading pleasure, is the article written by Jim Yih.