{"id":10659,"date":"2020-08-12T22:50:12","date_gmt":"2020-08-12T22:50:12","guid":{"rendered":"https:\/\/nomoredebts.org\/?page_id=10659"},"modified":"2022-02-16T22:30:57","modified_gmt":"2022-02-16T22:30:57","slug":"try-not-to-draw-out-rrsp-money","status":"publish","type":"page","link":"https:\/\/nomoredebts.org\/financial-education\/try-not-to-draw-out-rrsp-money","title":{"rendered":"Try Not to Withdraw Money from Your RRSP"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;Banner Image with Heading and Text&#8221; module_class=&#8221;vertical-align&#8221; _builder_version=&#8221;4.14.7&#8243; background_color=&#8221;#e7dff3&#8243; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_start=&#8221;rgba(91,37,175,0.44)&#8221; background_color_gradient_end=&#8221;rgba(91,37,175,0)&#8221; background_color_gradient_type=&#8221;radial&#8221; background_color_gradient_start_position=&#8221;15%&#8221; background_color_gradient_end_position=&#8221;70%&#8221; background_color_gradient_overlays_image=&#8221;on&#8221; background_image=&#8221;https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/08\/rrsp-withdrawals_hero.jpg&#8221; min_height=&#8221;550px&#8221; bottom_divider_style=&#8221;wave2&#8243; bottom_divider_color=&#8221;#e7dff3&#8243; bottom_divider_height_tablet=&#8221;70px&#8221; bottom_divider_height_phone=&#8221;50px&#8221; bottom_divider_height_last_edited=&#8221;on|phone&#8221; hover_enabled=&#8221;0&#8243; background_last_edited=&#8221;on|phone&#8221; background_size_phone=&#8221;cover&#8221; background_position_tablet=&#8221;top_right&#8221; background_position_phone=&#8221;center_right&#8221; da_disable_devices=&#8221;off|off|off&#8221; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row custom_padding_last_edited=&#8221;on|phone&#8221; admin_label=&#8221;Row&#8221; _builder_version=&#8221;4.5.3&#8243; background_enable_image=&#8221;off&#8221; max_width=&#8221;100%&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;||90px||false|false&#8221; custom_padding_tablet=&#8221;&#8221; custom_padding_phone=&#8221;||80px||false|false&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.2&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_text admin_label=&#8221;Heading&#8221; _builder_version=&#8221;4.14.7&#8243; text_font=&#8221;|600|||||||&#8221; text_font_size=&#8221;42px&#8221; text_line_height=&#8221;1em&#8221; text_orientation=&#8221;center&#8221; background_layout=&#8221;dark&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;||26px|||&#8221; custom_padding=&#8221;0px|||||&#8221; animation_direction=&#8221;top&#8221; hover_enabled=&#8221;0&#8243; text_text_shadow_style=&#8221;preset2&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>RRSP Withdrawals<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.5.3&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#e7dff3&#8243; custom_padding=&#8221;42px|||||&#8221; da_disable_devices=&#8221;off|off|off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.5.3&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.5.3&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_dmb_breadcrumbs font_icon=&#8221;%%20%%&#8221; use_home_icon=&#8221;off&#8221; use_home_text=&#8221;on&#8221; _builder_version=&#8221;4.14.7&#8243; body_text_color=&#8221;rgba(102,102,102,0.8)&#8221; link_text_color=&#8221;rgba(42,209,61,0.8)&#8221; custom_padding_tablet=&#8221;&#8221; custom_padding_phone=&#8221;20px||||false|false&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; animation_direction=&#8221;left&#8221; global_module=&#8221;6437&#8243; saved_tabs=&#8221;all&#8221; global_colors_info=&#8221;{}&#8221; link_text_color__hover_enabled=&#8221;on|hover&#8221; link_text_color__hover=&#8221;rgba(90,39,178,0.4)&#8221;][\/et_pb_dmb_breadcrumbs][et_pb_text _builder_version=&#8221;4.5.3&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h1>Try Not to Withdraw Money from Your RRSP<\/h1>\n<p><em> Q: I&#8217;m not working and my employment insurance just ran out. Can I withdraw money from my RRSP until I get back to work?<\/em><\/p>\n<p>A: You can access money in your RRSP as long as the funds are not &#8220;locked in&#8221; (although in some provinces you can <a href=\"https:\/\/mymoneycoach.ca\/blog\/financial-hardship-reasons-unlocking-locked-in-rrsp-withdrawal-pension-funds\" target=\"_blank\" rel=\"noopener noreferrer\">unlock RRSPs for certain financial hardship reasons<\/a>). There are strict rules about accessing locked-in funds. Your banker or financial adviser can provide you with more information.<\/p>\n<p>When you withdraw money from an RRSP, it&#8217;s counted as income during the year you withdraw the money. To make sure you don&#8217;t end up owing income tax on the money you withdraw, a portion is withheld up front (10% if the amount is $5,000 or less, 20% for amounts of $5,001 to $15,000, and 30% of amounts over $15,000). You may get this back when you file your income taxes for that year.<\/p>\n<p>However, it&#8217;s easier to spend than to save, so consider the impact of all of your options before you tap into your <a href=\"https:\/\/mymoneycoach.ca\/blog\/how-to-save-for-retirement.html\">retirement savings<\/a> and withdraw RRSP money.<\/p>\n<ul>\n<li>Do you qualify for any additional government assistance (retraining, extended EI benefits)?<\/li>\n<li>What <a href=\"\/budgeting\/budgeting-guidelines\" target=\"_blank\" rel=\"noopener noreferrer\">expenses can you reduce<\/a> or put on hold (for example, utility bundles or subscriptions)?<\/li>\n<li>Do you have any assets you could sell?<\/li>\n<li>Could you move elsewhere for work, even temporarily?<\/li>\n<li>Is your home or property big enough to generate some rental income?<\/li>\n<li>Are you able to work from home to make ends meet for a little while longer (such as tutoring English online or providing some child care)?<\/li>\n<li>How can you best manage existing debt obligations?<\/li>\n<\/ul>\n<p>Some of these options may be easier to do than others, so rely on family and community support as you consider your next steps. If you have debt, <a href=\"\/debt-help\/dealing-with-creditors\" target=\"_blank\" rel=\"noopener noreferrer\">communicate with your creditors<\/a> to work out alternate arrangements during this difficult time rather then drawing down your retirement savings by withdrawing money from you RRSP.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; custom_padding_last_edited=&#8221;on|phone&#8221; prev_background_color=&#8221;#e7dff3&#8243; admin_label=&#8221;CTA 2 &#8211; Get started&#8221; _builder_version=&#8221;4.5.1&#8243; background_enable_color=&#8221;off&#8221; background_image=&#8221;https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/03\/credit-counselling-couple-3-scaled-purple.jpg&#8221; parallax=&#8221;on&#8221; parallax_method=&#8221;off&#8221; max_width=&#8221;100%&#8221; custom_margin_tablet=&#8221;||||false|false&#8221; custom_margin_last_edited=&#8221;off|tablet&#8221; custom_padding=&#8221;347px||1px||false|false&#8221; 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da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row admin_label=&#8221;CTA Components&#8221; _builder_version=&#8221;4.8.2&#8243; background_enable_color=&#8221;off&#8221; z_index=&#8221;0&#8243; width=&#8221;60%&#8221; width_tablet=&#8221;100%&#8221; width_phone=&#8221;&#8221; width_last_edited=&#8221;on|phone&#8221; max_width=&#8221;100%&#8221; min_height=&#8221;500px&#8221; min_height_phone=&#8221;auto&#8221; min_height_last_edited=&#8221;off|phone&#8221; custom_margin=&#8221;-6px|auto|-140px|auto|false|false&#8221; custom_margin_tablet=&#8221;1px||-340px||false|false&#8221; custom_margin_phone=&#8221;||-300px||false|false&#8221; custom_margin_last_edited=&#8221;on|phone&#8221; custom_padding=&#8221;60px||0px||false|false&#8221; animation_direction=&#8221;top&#8221; global_module=&#8221;11243&#8243; saved_tabs=&#8221;all&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.3.1&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;Heading Line 1&#8243; _builder_version=&#8221;4.10.4&#8243; text_font=&#8221;|700|||||||&#8221; text_text_color=&#8221;rgba(255,255,255,0.7)&#8221; text_font_size=&#8221;30px&#8221; text_line_height=&#8221;1em&#8221; header_font=&#8221;||||||||&#8221; header_text_color=&#8221;#ffffff&#8221; header_2_font=&#8221;Montserrat|700||on|||||&#8221; header_2_font_size=&#8221;42px&#8221; header_2_line_height=&#8221;1.3em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; z_index=&#8221;1&#8243; text_orientation=&#8221;center&#8221; background_layout=&#8221;dark&#8221; max_width=&#8221;60%&#8221; max_width_tablet=&#8221;80%&#8221; max_width_phone=&#8221;90%&#8221; max_width_last_edited=&#8221;on|desktop&#8221; module_alignment=&#8221;center&#8221; animation_direction=&#8221;bottom&#8221; animation_duration_tablet=&#8221;1000ms&#8221; animation_duration_phone=&#8221;&#8221; animation_duration_last_edited=&#8221;on|tablet&#8221; text_text_shadow_style=&#8221;preset2&#8243; inline_fonts=&#8221;Work Sans&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Do you have questions?<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Heading Line 2&#8243; _builder_version=&#8221;4.10.4&#8243; text_font=&#8221;|700|||||||&#8221; text_text_color=&#8221;rgba(255,255,255,0.9)&#8221; text_font_size=&#8221;30px&#8221; text_line_height=&#8221;1em&#8221; header_font=&#8221;||||||||&#8221; header_text_color=&#8221;#ffffff&#8221; header_2_font=&#8221;Montserrat|700||on|||||&#8221; header_2_font_size=&#8221;42px&#8221; header_2_line_height=&#8221;1.3em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; z_index=&#8221;1&#8243; text_orientation=&#8221;center&#8221; background_layout=&#8221;dark&#8221; max_width=&#8221;60%&#8221; max_width_tablet=&#8221;80%&#8221; max_width_phone=&#8221;90%&#8221; max_width_last_edited=&#8221;on|phone&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;-15px||||false|false&#8221; animation_direction=&#8221;bottom&#8221; animation_duration_tablet=&#8221;1000ms&#8221; animation_duration_phone=&#8221;&#8221; animation_duration_last_edited=&#8221;on|tablet&#8221; animation_delay_tablet=&#8221;1000ms&#8221; animation_delay_phone=&#8221;&#8221; animation_delay_last_edited=&#8221;on|tablet&#8221; text_text_shadow_style=&#8221;preset2&#8243; inline_fonts=&#8221;Work Sans&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Get debt help now<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Paragraph Message&#8221; _builder_version=&#8221;4.10.4&#8243; text_text_color=&#8221;#ffffff&#8221; text_font_size=&#8221;18px&#8221; text_line_height=&#8221;1.6em&#8221; header_font=&#8221;||||||||&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; z_index=&#8221;1&#8243; text_orientation=&#8221;center&#8221; max_width=&#8221;60%&#8221; max_width_tablet=&#8221;80%&#8221; max_width_phone=&#8221;90%&#8221; max_width_last_edited=&#8221;on|desktop&#8221; module_alignment=&#8221;center&#8221; min_height=&#8221;79px&#8221; custom_margin=&#8221;-15px||||false|false&#8221; animation_direction=&#8221;bottom&#8221; animation_duration_tablet=&#8221;1500ms&#8221; animation_duration_phone=&#8221;&#8221; animation_duration_last_edited=&#8221;on|tablet&#8221; animation_delay_tablet=&#8221;2000ms&#8221; animation_delay_phone=&#8221;&#8221; animation_delay_last_edited=&#8221;on|tablet&#8221; text_text_shadow_style=&#8221;preset2&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>If you&#8217;re struggling and are wondering how to move forward, give us a call. We&#8217;re happy to answer your questions and help with any financial advice you need. It&#8217;s possible that all you need at the present time is the right information or a plan for how to move forward once your situation improves. Give us a call if you have any questions. Speaking with us is always free, confidential and non-judgmental.<\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;\/contact-us#options&#8221; button_text=&#8221;Call Us&#8221; button_alignment=&#8221;center&#8221; _builder_version=&#8221;4.13.0&#8243; custom_button=&#8221;on&#8221; button_text_color=&#8221;#ffffff&#8221; button_bg_color=&#8221;#2ad13d&#8221; button_border_width=&#8221;0px&#8221; button_border_radius=&#8221;8px&#8221; button_font=&#8221;|600|||||||&#8221; button_icon=&#8221;&#x35;||divi||400&#8243; z_index=&#8221;1&#8243; animation_duration_tablet=&#8221;1000ms&#8221; animation_duration_phone=&#8221;&#8221; animation_duration_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_text admin_label=&#8221;Extra Space&#8221; _builder_version=&#8221;4.4.8&#8243; background_enable_color=&#8221;off&#8221; transform_scale_tablet=&#8221;&#8221; transform_scale_phone=&#8221;&#8221; transform_scale_last_edited=&#8221;on|desktop&#8221; 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da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; custom_padding=&#8221;27px|0px|27px|0px&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;H2 Heading&#8221; _builder_version=&#8221;4.4.9&#8243; text_font=&#8221;||||||||&#8221; header_font=&#8221;Work Sans|600|||||||&#8221; header_2_font=&#8221;||||||||&#8221; header_2_line_height=&#8221;1.3em&#8221; header_4_font=&#8221;Work Sans||||||||&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; text_orientation=&#8221;center&#8221; custom_margin=&#8221;||2px|||&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; header_font_size__hover=&#8221;30px&#8221; header_font_size__hover_enabled=&#8221;30px&#8221; header_letter_spacing__hover=&#8221;0px&#8221; header_letter_spacing__hover_enabled=&#8221;0px&#8221; header_text_shadow_style__hover=&#8221;none&#8221; header_text_shadow_style__hover_enabled=&#8221;none&#8221; header_text_shadow_color__hover=&#8221;rgba(0,0,0,0.4)&#8221; header_text_shadow_color__hover_enabled=&#8221;rgba(0,0,0,0.4)&#8221;]<\/p>\n<h2>Related Topics<\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_3,1_3,1_3&#8243; make_equal=&#8221;on&#8221; disabled_on=&#8221;on|on|off&#8221; admin_label=&#8221;Related Article Cards | Desktop&#8221; _builder_version=&#8221;4.6.5&#8243; width=&#8221;70%&#8221; max_width=&#8221;100%&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.6.5&#8243; background_color=&#8221;#ffffff&#8221; transform_translate_linked__hover=&#8221;off&#8221; link_option_url=&#8221;\/financial-education\/financial-workshops-webinars&#8221; border_radii=&#8221;on|8px|8px|8px|8px&#8221; box_shadow_style=&#8221;preset2&#8243; global_colors_info=&#8221;{}&#8221; transform_styles__hover_enabled=&#8221;on|hover&#8221; transform_scale__hover_enabled=&#8221;on|desktop&#8221; transform_translate__hover_enabled=&#8221;on|hover&#8221; transform_rotate__hover_enabled=&#8221;on|desktop&#8221; transform_skew__hover_enabled=&#8221;on|desktop&#8221; transform_origin__hover_enabled=&#8221;on|desktop&#8221; transform_translate__hover=&#8221;0px|-10px&#8221;][et_pb_image src=&#8221;https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/in-person-workshop_related_topics.jpg&#8221; title_text=&#8221;workshops-and-webinars&#8221; _builder_version=&#8221;4.6.5&#8243; border_radii=&#8221;off|8px|8px||&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text admin_label=&#8221;H3 + Teaser Text&#8221; _builder_version=&#8221;4.6.5&#8243; header_3_text_align=&#8221;left&#8221; header_3_text_color=&#8221;rgba(0,0,0,0.8)&#8221; header_3_line_height=&#8221;1.3em&#8221; width=&#8221;80%&#8221; max_width=&#8221;80%&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;||30px||false|false&#8221; global_colors_info=&#8221;{}&#8221; content__hover_enabled=&#8221;off|desktop&#8221; header_3_text_color__hover_enabled=&#8221;on|hover&#8221; header_3_text_color__hover=&#8221;#2ad13d&#8221;]<\/p>\n<h3>Workshops &#038; Webinars<\/h3>\n<p>In-person or online, learn about credit, debt, and money. Ask questions and get the best tips!<\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.6.5&#8243; background_color=&#8221;#ffffff&#8221; transform_translate_linked__hover=&#8221;off&#8221; link_option_url=&#8221;\/budgeting\/budgeting-guidelines&#8221; border_radii=&#8221;on|8px|8px|8px|8px&#8221; box_shadow_style=&#8221;preset2&#8243; global_colors_info=&#8221;{}&#8221; transform_styles__hover_enabled=&#8221;on|hover&#8221; transform_scale__hover_enabled=&#8221;on|desktop&#8221; transform_translate__hover_enabled=&#8221;on|hover&#8221; transform_rotate__hover_enabled=&#8221;on|desktop&#8221; transform_skew__hover_enabled=&#8221;on|desktop&#8221; transform_origin__hover_enabled=&#8221;on|desktop&#8221; transform_translate__hover=&#8221;0px|-10px&#8221;][et_pb_image src=&#8221;https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/10\/budgeting-guideline_related_topic.jpg&#8221; title_text=&#8221;budgeting-guidelines&#8221; _builder_version=&#8221;4.6.5&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text admin_label=&#8221;H3 + Teaser Text&#8221; _builder_version=&#8221;4.6.5&#8243; header_3_text_align=&#8221;left&#8221; header_3_text_color=&#8221;rgba(0,0,0,0.8)&#8221; header_3_line_height=&#8221;1.3em&#8221; width=&#8221;80%&#8221; max_width=&#8221;80%&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;||30px||false|false&#8221; global_colors_info=&#8221;{}&#8221; content__hover_enabled=&#8221;off|desktop&#8221; header_3_text_color__hover_enabled=&#8221;on|hover&#8221; header_3_text_color__hover=&#8221;#2ad13d&#8221;]<\/p>\n<h3>Budgeting Guidelines<\/h3>\n<p>A breakdown of categories for your budget and how much to spend on each type of expense.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.6.5&#8243; background_color=&#8221;#ffffff&#8221; transform_translate_linked__hover=&#8221;off&#8221; link_option_url=&#8221;\/debt-help\/credit-counselling&#8221; border_radii=&#8221;on|8px|8px|8px|8px&#8221; box_shadow_style=&#8221;preset2&#8243; global_colors_info=&#8221;{}&#8221; transform_styles__hover_enabled=&#8221;on|hover&#8221; transform_scale__hover_enabled=&#8221;on|desktop&#8221; transform_translate__hover_enabled=&#8221;on|hover&#8221; transform_rotate__hover_enabled=&#8221;on|desktop&#8221; transform_skew__hover_enabled=&#8221;on|desktop&#8221; transform_origin__hover_enabled=&#8221;on|desktop&#8221; transform_translate__hover=&#8221;0px|-10px&#8221;][et_pb_image src=&#8221;https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/signing-agreement-with-advisor_related_topics.jpg&#8221; title_text=&#8221;credit-counselling&#8221; _builder_version=&#8221;4.6.5&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text admin_label=&#8221;H3 + Teaser Text&#8221; _builder_version=&#8221;4.6.5&#8243; header_3_text_align=&#8221;left&#8221; header_3_text_color=&#8221;rgba(0,0,0,0.8)&#8221; header_3_line_height=&#8221;1.3em&#8221; width=&#8221;80%&#8221; max_width=&#8221;80%&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;||30px||false|false&#8221; global_colors_info=&#8221;{}&#8221; content__hover_enabled=&#8221;off|desktop&#8221; header_3_text_color__hover_enabled=&#8221;on|hover&#8221; header_3_text_color__hover=&#8221;#2ad13d&#8221;]<\/p>\n<h3>Credit Counselling<\/h3>\n<p>Are you curious about what credit counselling is or how it works? Here&#8217;s what you need to know.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row disabled_on=&#8221;off|off|on&#8221; admin_label=&#8221;Related Article Swipe Cards | Mobile&#8221; _builder_version=&#8221;4.4.7&#8243; custom_padding=&#8221;3px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.7&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_code admin_label=&#8221;Swiper Code for Swipe Cards (Need to upload card images and then enter their URLs in this code)&#8221; _builder_version=&#8221;4.6.5&#8243; global_colors_info=&#8221;{}&#8221;]<!-- Link Swiper's CSS --><!-- [et_pb_line_break_holder] --><link rel=\"stylesheet\" href=\"https:\/\/unpkg.com\/swiper\/css\/swiper.min.css\"><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] --><!-- Demo styles --><!-- [et_pb_line_break_holder] --><\/p>\n<style><!-- [et_pb_line_break_holder] -->    .swiper-container {<!-- [et_pb_line_break_holder] -->      width: 100%;<!-- [et_pb_line_break_holder] -->      height: 100%;<!-- [et_pb_line_break_holder] -->    }<!-- [et_pb_line_break_holder] -->    .swiper-slide {<!-- [et_pb_line_break_holder] -->      text-align: center;<!-- [et_pb_line_break_holder] -->      font-size: 18px;<!-- [et_pb_line_break_holder] -->      background: #e7dff3;<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->      \/* Center slide text vertically *\/<!-- [et_pb_line_break_holder] -->      display: -webkit-box;<!-- [et_pb_line_break_holder] -->      display: -ms-flexbox;<!-- [et_pb_line_break_holder] -->      display: -webkit-flex;<!-- [et_pb_line_break_holder] -->      display: flex;<!-- [et_pb_line_break_holder] -->      -webkit-box-pack: center;<!-- [et_pb_line_break_holder] -->      -ms-flex-pack: center;<!-- [et_pb_line_break_holder] -->      -webkit-justify-content: center;<!-- [et_pb_line_break_holder] -->      justify-content: center;<!-- [et_pb_line_break_holder] -->      -webkit-box-align: center;<!-- [et_pb_line_break_holder] -->      -ms-flex-align: center;<!-- [et_pb_line_break_holder] -->      -webkit-align-items: center;<!-- [et_pb_line_break_holder] -->      align-items: center;<!-- [et_pb_line_break_holder] -->    }<!-- [et_pb_line_break_holder] -->  .swiper-pagination{<!-- [et_pb_line_break_holder] -->    position: relative;<!-- [et_pb_line_break_holder] -->    padding: 5px;<!-- [et_pb_line_break_holder] -->  }<!-- [et_pb_line_break_holder] -->  :root {<!-- [et_pb_line_break_holder] -->    --swiper-theme-color: #5b25af<!-- [et_pb_line_break_holder] -->  }<!-- [et_pb_line_break_holder] -->  <\/style>\n<p><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->  <!-- Swiper --><!-- [et_pb_line_break_holder] -->  <\/p>\n<div class=\"swiper-container\"><!-- [et_pb_line_break_holder] -->    <\/p>\n<div class=\"swiper-wrapper\"><!-- [et_pb_line_break_holder] -->      <\/p>\n<div class=\"swiper-slide\"><a href=\"\/financial-education\/financial-workshops-webinars\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2020\/06\/workshops-and-webinars_related_topic_card.jpg\";><\/a><\/div>\n<p><!-- [et_pb_line_break_holder] -->      <\/p>\n<div class=\"swiper-slide\"><a href=\"\/budgeting\/budgeting-guidelines\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2020\/08\/budgeting-guidelines_related_topic_card.jpg\";><\/a><\/div>\n<p><!-- [et_pb_line_break_holder] -->      <\/p>\n<div class=\"swiper-slide\"><a href=\"\/debt-help\/credit-counselling\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2020\/06\/credit-counselling_related_topic_card.jpg\";><\/a><\/div>\n<p><!-- [et_pb_line_break_holder] -->    <\/div>\n<p><!-- [et_pb_line_break_holder] --><!-- Spacer --><!-- [et_pb_line_break_holder] --><\/p>\n<div class=\"swiper-spacer\">\u00a0<\/div>\n<p><!-- [et_pb_line_break_holder] -->    <!-- Add Pagination --><!-- [et_pb_line_break_holder] -->    <\/p>\n<div class=\"swiper-pagination\"><\/div>\n<p><!-- [et_pb_line_break_holder] -->  <\/div>\n<p><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->  <!-- Swiper JS --><!-- [et_pb_line_break_holder] -->  <script src=\"https:\/\/unpkg.com\/swiper\/js\/swiper.min.js\"><\/script><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->  <!-- Initialize Swiper --><!-- [et_pb_line_break_holder] -->  <script><!-- [et_pb_line_break_holder] -->    var swiper = new Swiper('.swiper-container', {<!-- [et_pb_line_break_holder] -->      pagination: {<!-- [et_pb_line_break_holder] -->        el: '.swiper-pagination',<!-- [et_pb_line_break_holder] -->      },<!-- [et_pb_line_break_holder] -->    });<!-- [et_pb_line_break_holder] -->  <\/script>[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RRSP WithdrawalsTry Not to Withdraw Money from Your RRSP Q: I&#8217;m not working and my employment insurance just ran out. Can I withdraw money from my RRSP until I get back to work? A: You can access money in your RRSP as long as the funds are not &#8220;locked in&#8221; (although in some provinces you [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":16067,"parent":6637,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"class_list":["post-10659","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v24.8.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Try Not to Withdraw Money from Your RRSP - Credit Counselling Society<\/title>\n<meta name=\"description\" content=\"You can access money in your RRSP as long as the funds are not \u201clocked in\u201d. There are strict rules about accessing locked-in funds. Click to read more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nomoredebts.org\/financial-education\/try-not-to-draw-out-rrsp-money\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Try Not to Withdraw Money from Your RRSP\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nomoredebts.org\/financial-education\/try-not-to-draw-out-rrsp-money\" \/>\n<meta property=\"og:site_name\" content=\"Credit Counselling Society\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nomoredebts\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-16T22:30:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/figuring-out-how-much-money-is-left-in-the-budget_2colm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@CrdtCounselSoc\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Try Not to Withdraw Money from Your RRSP - Credit Counselling Society","description":"You can access money in your RRSP as long as the funds are not \u201clocked in\u201d. 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