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The 4% Rule Just Dropped to 3.9% — But Your RRIF Doesn't Care

  Published August 5, 2026 Morningstar's newest research says retirees can safely start withdrawing 3.9% a year. Ottawa's RRIF rules don't ask what's "safe" — they just tell you how much to take out, whether the math agrees or not. For years, the shortcut retirees leaned on was simple: take out 4% of your portfolio in your first year of retirement, bump it up with inflation every year after, and your savings should last three decades. Morningstar's 2026 State of Retirement Income report just trimmed that number to 3.9%. On its own, that's a small adjustment. On a $500,000 portfolio, it's the difference between withdrawing $19,500 or $20,000 in year one. But for Canadians, the number that actually controls the withdrawal isn't Morningstar's — it's the Canada Revenue Agency's. And once your RRSP becomes a Registered Retirement Income Fund, the CRA's required minimum can blow right past whatever a "safe" withdrawal rate i...
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Tragedy in Valencia: Floods Claim 205 Lives, Sparking Anger and Calls for Aid

 

Three days after devastating flash floods swept through towns in Spain’s Valencia region, the death toll has risen to 205, with 202 victims from Valencia alone. The initial shock is now giving way to anger and frustration as residents grapple with the aftermath of Spain’s deadliest natural disaster in living memory.

The floods, which began on Tuesday, have left streets blocked by vehicles and debris, trapping some residents in their homes. Many areas are still without electricity, running water, or stable telephone connections. The damage is reminiscent of a tsunami, with survivors mourning lost loved ones and struggling to rebuild their lives.

Local authorities and emergency services are working tirelessly to search for missing persons, many feared to be trapped in wrecked vehicles or flooded garages. The mayor of Chiva, Amparo Fort, described the situation as “unbelievable” and called for more machinery and aid to access affected sites.

Residents like Emilio Cuartero from Masanasa have voiced their desperation, highlighting the urgent need for basic supplies such as bread and water. The community’s resilience is evident as they come together to clear debris and support one another, but the scale of the disaster has left many feeling overwhelmed and in need of greater assistance.

As the region continues to recover, the solidarity among the people of Valencia offers a glimmer of hope amidst the devastation.


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