Kathy seeks to diversify her portfolio after retirement with strong pension and stock holdings

Kathy, 60, recently retired with a defined benefit pension of $120,500 annually and $700,000 in company stock. Concerned about having too much in one area, she seeks advice on diversifying her portfolio and supporting her children financially. A financial planner suggests Kathy is in a strong position with a net worth of about $3.35 million. To manage her cash flow, she should draw from her non-registered assets, which could also help diversify her investments by gradually reducing her company stock holdings. Kathy can consider gifting her children $20,000 to $30,000 annually from her non-registered portfolio without disrupting her finances. She may also use her tax-free savings account for larger gifts, balancing her tax implications while supporting her children.