Final answer:
The best strategy to make the most of a Registered Retirement Income Fund (RRIF) is to start saving early and save often. Options include investing in stocks, bonds, and annuities through a workplace account like a 401(k) or putting savings into mutual funds for potentially higher returns. Consider risk and return tradeoffs based on age and financial goals.
Step-by-step explanation:
The best strategy to make the best use of a Registered Retirement Income Fund (RRIF) is to start saving early and save often. One option is to invest the funds in stocks, bonds, and annuities through private firms at the workplace, such as a 401(k) account. Another option is to put the savings for retirement in mutual funds, which can reduce transaction costs for investors and have the potential for higher returns over an extended period. It is important to consider the tradeoffs between risk and return based on one's age and financial goals.