#1
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Looking for investment options in Canada
I am looking for a place/way to tuck my money away without having it tied up too much. I'd like to be able to access the money if i needed to. It could be a long-term or short-term investment.
I was looking at ING Direct Savings accounts (or GICs). I've already invested in mutual funds this year but the market has really not been too good (or my bank sucks at managing them). Basically I am asking, what would be the most profitable (over short or long-term) option for me to place like 5k in, without having it tied up too hard? (like in savings bonds) thanks for any help/suggestion. |
#2
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Re: Looking for investment options in Canada
First off letting your bank manage your investments is your first mistake. Have you looked at any of the income trusts out there? Short Term A GIC or ING is best bet
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#3
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Re: Looking for investment options in Canada
Which firm would you recommend I look into?
I looked into Short Terms GICs, the rate is 4.5% I believe. Can I get a better return elsewhere on such an investment? |
#4
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Re: Looking for investment options in Canada
Short Term is your best bet if you need the liquidity and safety
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#5
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Re: Looking for investment options in Canada
Are you aware you can get 4.25% in a savings account with PC Financial bank? I'm looking to do some investing too and I find it frustrating that I can't find a GIC that pays much better than a bank account.
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#6
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Re: Looking for investment options in Canada
Credit unions are offering 18mth GIC's @ 5.05%.
Call around, those are great rates. You get taxed on that income rather huge though, 50% on interest income i think. Best bet would be to find an undervalued dividend stock like BMO, their dividend is around 3.8%. Dividend income is only taxed at 20%. Bad part is, your stock may tank... but it may go up !!!! |
#7
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Re: Looking for investment options in Canada
[ QUOTE ]
Are you aware you can get 4.25% in a savings account with PC Financial bank? I'm looking to do some investing too and I find it frustrating that I can't find a GIC that pays much better than a bank account [/ QUOTE ] When did they increase it? It used to be only 4%, I've had an account there for about 2 years. On a side note ICIC bank canada offers 4.5% in a regular savings account |
#8
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Re: Looking for investment options in Canada
Must have been in the last couple months, because I know it was 4% until recently.
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#9
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Re: Looking for investment options in Canada
[ QUOTE ]
Credit unions are offering 18mth GIC's @ 5.05%. Call around, those are great rates. You get taxed on that income rather huge though, 50% on interest income i think. Best bet would be to find an undervalued dividend stock like BMO, their dividend is around 3.8%. Dividend income is only taxed at 20%. Bad part is, your stock may tank... but it may go up !!!! [/ QUOTE ] 50% really? what's the point of investing there then, it barely beats the inflation rate. [img]/images/graemlins/confused.gif[/img] Might as well buy stocks and hope to gain big, or put it in RRSPs but there's a limit to those which I have already reached this year. |
#10
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Re: Looking for investment options in Canada
i say invest in hockey and hunting eh?
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