Hello, I'm about to become an pensioner. I have a small rainy day fund I have been investing in GICs for quite a few years now. I would like to find an investment that would provide a monthly allowance and protect the rainy day fund. It would also have to be tax free as any increase in taxable income will be cancelled out by a reduction in my GIS . Is this possible? I know zilch about investing but everything about frugal living.