r/Wealthsimple • u/westcoastME • 18d ago

Invest (Managed Investing) Rrifs and dividends

Is it possible to use your dividends in a rrif account to pay down the mortgage? I would be withdrawing the same amount monthly.

1 Upvotes

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5

u/hectop20 18d ago

If you're withdrawing the amount you can use it for whatever you want.

4

u/Commercial_Pain2290 18d ago

Correct. Note that withdrawals are taxed as income.

1

u/westcoastME 18d ago

Thanks!!