I am providing you with a list of my most preferred monthly paying CEFs. hanks to the market slump over the previous 2 quarters, most are really good buys with high yields . For socially responsible investing: TEAF and ECAT. For growth oriented technology, but more short-run volatility: BSTZ, BMEZ, AIO, and NBXG. For reducing tax exposure from dividends and from biggest discount to slight premium: PSF, PTA, LDP, RFM, FOF, HTD, FLC, BKN, ETG, EXG, ETW, NMZ, RMI, EXD, PMX, ETY, ETO, ETV, and ETB.

Don’t forget that if you have a non-tax sheltered investment account, your total capital gains for the year, even if you never take them out, are fully taxable. Thus, I would advise you to rotate from premium CEFs to discount CEFs and realize capital gains much more in a tax sheltered account such as an ordinary IRA. Assuming you are not re-investing them, take out only the dividends from your tax sheltered accounts (which cannot be further tax sheltered with the above CEFs).

Next, I will give you a list of CEFs that you can simply hold and reinvest the dividends. Then, when you retire you will have a mountain of wealth and can choose to live off of the dividends.

As always, Good Investing!

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