What’s the most tax efficient way to draw down my $5-million investment portfolio?

Having a large portfolio doesn't make the drawdown question simple; if anything, it raises the stakes on getting the order and timing right. This column tackles how someone with a sizeable nest egg might pull income in a way that keeps the tax bill reasonable over many years, rather than just in any single one. It weighs the pull between spending down registered money, harvesting from non-registered accounts, and leaning on the tax-free room in a TFSA, all against a backdrop where inflation may quietly erode purchasing power. The thinking centres on preserving and growing capital through a long retirement, not just minimizing tax this April. It's most relevant to investors with substantial assets and a long horizon who want a withdrawal approach that holds up year after year rather than a one-time trick.