Q: Dear 5i
My mother-in-law has a substantial amount of GIC money coming due and was wondering what to do with it re reinvesting . At 93 she is very conservative with her money with all investments being in GICs , Bonds and some mutual funds . She relies on her bank for investing information and investing which concerns me a bit .
She mentioned wanting to get more investment earnings from dividends as opposed to interest income because of the more favourable tax treatment . I did mention to her that she could achieve that with large cap dividend paying stocks or possibly ETFs but at a little greater risk .
I think she would be better off with an ETF rather than a mutual fund but was not sure which ETF might suite her the best . Should she invest in municipal , gov`t bonds or a Bond ETF ? With interest rates not yet peaking i`m concerned that buying bonds now may not be the best time as bond prices go down with rising interest rates as you know . GIC rates are higher now so i`m thinking that may be the way to go for her .
I realize you can`t personalize your answer but a general guideline would be much appreciated . She does not have high income needs as her CPP and OAS covers most of her monthly expenses except maybe for $300-$350 .
Thanks
Bill C

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