Mabel and Murray open a RRIF funded by Murray's RRSP and then find themselves examining the long life expectancy that runs in their families. All of their parents are in their late 90s and still going strong. Further, Mabel and Murray are in perfect health. A strategy that could be recommended is for them to: take the annual minimum withdrawal and transfer the balance of the RRIF to an annuity start contributing to another RRIF and take minimum withdrawals only from both plans cash out the RRIF and use the proceeds to buy an annuity take a joint and last survivor life insurance policy