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155 Posts
Just curious what others would do here:
I have about $30,000 sitting around collecting dust in a "high-interest" savings account. My RRSP and TFSA are currently well-diversified with a small collection of ETFs. My goal right now is to take about $20,000 of that cash and invest it for at least a couple of years in a tax-efficient manner. I initially thought about the big bank "monthly income funds", but would prefer an ETF or two over a mutual fund. So, next I thought about CDZ, the Claymore dividend ETF. My understanding is that Canadian dividends are relatively tax-efficient in a non-registered account. My other idea was to throw it all into the Claymore Balanced Income ETF (CBD), but I don't believe (no expert here by any means) that the income from that ETF would be as tax-efficient in a cash account. I also don't feel I need the security of a partial bond allocation for this money. Right now I'm leaning toward tossing it all into CDZ.
Any thoughts?
I have about $30,000 sitting around collecting dust in a "high-interest" savings account. My RRSP and TFSA are currently well-diversified with a small collection of ETFs. My goal right now is to take about $20,000 of that cash and invest it for at least a couple of years in a tax-efficient manner. I initially thought about the big bank "monthly income funds", but would prefer an ETF or two over a mutual fund. So, next I thought about CDZ, the Claymore dividend ETF. My understanding is that Canadian dividends are relatively tax-efficient in a non-registered account. My other idea was to throw it all into the Claymore Balanced Income ETF (CBD), but I don't believe (no expert here by any means) that the income from that ETF would be as tax-efficient in a cash account. I also don't feel I need the security of a partial bond allocation for this money. Right now I'm leaning toward tossing it all into CDZ.
Any thoughts?