Q - I no longer wish to hold any investments other than GICs, so I really have no need for a self-directed RRSP and don't wish to pay the annual trustee fee. I currently have a self-directed RRSP which holds mostly mutual funds. Once I sell those funds within the plan can I simply direct the bank of my choice to transfer the funds? Or is it more complicated than that? – Kate S-A.

Q – When it comes to RRSPs, how much is enough? When should you start looking to invest outside of RRSPs? I am 52 have about $110,000 in RRSPs now. My wife is 50 and has $160,000. We each contribute about $5,000 a year. Neither of us has a pension through work. We have no outstanding bills and are debt free with home and cottage.

Q - I have been told that at age 71 I will have to convert my RRSPs to a RRIF. But I have also read, and been told unofficially, that I will not have to start making withdrawals from my RRIF until my much-younger wife (who also has RRSPs) reaches age 71. Can you confirm this? I have asked two accountants who did not know about this, though J. L. Reynolds, in his book The Skeptical Investor, states it on page 66. – Larry M.

Q – I will be receiving a $44,000 retiring allowance. What would you recommend to do with it? My house is paid for and I will be receiving a great OMERS pension. My wife does not have a pension when she retires. I can take the whole amount and pay taxes on it or roll it into a RRSP. What would you do? – Brad H., Ontario

Q – We are a couple, both age 61 both in good shape financially and health-wise. Our pensions (indexed) together are about $80,000 gross and we both have taken CPP early.

Q – I am starting to wonder if RRSPs are the best vehicle for saving, when taxes are considered (when one withdraws the money and when one dies).

It's RRSP season again and many people are trying to decide where to invest their contributions. Here's my advice: "This is your retirement money so think like a pension fund manager."