When to withdraw more than the minimum from your RRIF

To do this, I estimated you’re spending about $54,000 a year and paying $9,500 to $10,000 in tax, based on your CPP, OAS, and the minimum RRIF withdrawal. If you continue spending at that rate, indexed at two per cent, with a five per cent investment return you will have to draw more than the RRIF minimum. Guess what the model shows? You run out of money around age 98. Still want to take out extra for travel? You won’t have to worry about tax because naturally spending down your RRIF over your lifetime eliminates most of the tax burden.