What are they, what to do with them, and should you take maximum LIF payments in retirement?

Below, find an updated version of two older blog posts that I've been using over the years to educate my clients about LIRA and LIF basics

Many of us end up having at least a small LIRA or LIF kicking around in our portfolio due to a pension at a former job. How do they work and what can I do with them?

LIRAs and LIFs
What are they, what to do with them, and should you take maximum LIF payments in retirement?