There is a way for you to not pay taxes from your investment income and that is by opening and contributing to a registered tax free account. Some employers offer this as benefit to their employees in addition or as an alternative to a tax deferral account. This account is called Roth IRA in the USA and TFSA in Canada and some other countries also offers this so if you don’t live in US or Canada then check out the equivalent in your country.
There are rules regarding contributions and withdrawal on these accounts so make sure you familiarize yourself about them if you are planning to open this type of account.
Tax free account is not a tax deferral account and cannot be used to lower your income tax. However, any income generated by this account is not taxable so you will get it all when you decide and ready to withdraw, provided you follow the rules about its withdrawals.
It only makes sense to put money into a tax free account if you are planning to make it earn more money through guaranteed income or investing. If it’s not going to earn money then it’s no different than a regular bank account since it’s earning very little to no income. The reason for investing the money you put in this account is to take advantage of the profit not being taxed by the government.