The Globe and Mail reports in its Friday edition that people with retirement income funds, or RIFs, should soon be getting notification as to what the minimum withdrawal amount is for 2024. Guest columnist RBC's Nancy Woods writes that you can always withdraw more than the minimum, but be aware that all amounts are taxable as income in the year of the withdrawal. The more important decisions are in what form of asset should the withdrawal be made, and when. Ms. Woods, a senior investment adviser with RBC Dominion Securities, says that the RIF withdrawal should be made in the beginning of the year, preferably "in kind," which is in the form of an investment such as a stock, bond or mutual fund. However, if you need the cash as a retiree to cover your expenses, it is great to know that the money is available and will provide stable payments. You can hold the cash in a high-interest savings account and draw from it as you need. Ms. Woods usually sets up her clients with a monthly payment to their bank account to provide them with a steady cash flow. For those who do not need a fixed cash payment, she recommends making a dividend-paying investment equal to the value of the required minimum withdrawal amount.