How can Paul and his wife save tax on their $2-million portfolio?
Q.
My wife and I are recently retired and have a portfolio of about $2 million in dividend paying stocks, pipelines, utilities and some exchange-traded funds (ETFs) tracking Canadian and U.S. high dividends stocks as well as S&P 500 and world equity shares.
We also have $900,000 in guaranteed investment certificates (GICs) and high-interest savings accounts (HISAs).
We are also fortunate to have defined benefit pension plans and annuities producing about $100,000 in income per year.
My question is, what should I be doing with our investments at this point? We won't likely ever spend all this money.
We have two very successful sons and five grandchildren.
We’d like to pay less tax but who wouldn’t? Any thoughts would be helpful. —Thanks, Paul Read More
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