What is Canada RITRIF Understanding Retirement Income Funds

I remember chatting with my neighbor, Tom, last summer over a cup of coffee. He was fretting about turning 71 soon and what to do with his retirement savings. \he said, \Tom\the rules require you to convert it into an income-generating vehicle. That\it\once money\they can run projections to optimize withdrawals and minimize taxes. It\s about balancing security with adaptability, ensuring your money lasts while letting you enjoy those hard-earned years.