I invested a chunk of my savings into a 5 year GIC, planning to ladder my savings in 5 year investments just the way the video says. That was a mistake for me. It's stuck there at a very low rate while my 1 year GICs are earning much higher rates of return. Now I prefer to ladder my GICs in 1 year investments with one maturing every month. That way I never have to wait very long to have access to 1/12th of my savings should I need it. Being very risk averse this works well for me.
everything is weird now (2nd q 2023). 18month/2 year GICs are paying the highest rates. i'm fine with putting 50k into a 16 month GIC that pays out at 5.2%. We'll see where we are then.
Hi, Thank you for your video. What is your opinion what is more safe for some really tough times, collapses, depression, currency devaluation.... GIC, bond, treasury, if we put safety ahead of return? Thank you.
THANK YOU FOR THE GREAT TIPS ON GIC INVESTING, ME, I NEED TO USE MY TFSA AND WAS WONDERING HOW BEST TO STRUCTURE MARKET LINKED GICS IN A TFSA. YOU CREATE VALUE FOR ME AND OTHERS NOT SURE WHAT TO DO WITH OUR DOLLARS
Yes, you can definitely purchase GICs within your TFSA. If you have a chance, check out our video that talks more about purchasing investments including GICs and savings accounts online and how to get higher returns than what you would typically get at your bank: ruclips.net/video/biG0YNoBgMg/видео.html
@@charundave yes, god yes. don't just park cash into a tfsa. invest it. that's what it is there for. the government should have called them tax free INVESTMENT accounts.
I sold my house and looked around for a place to park my money while waiting to buy a new home. I was lucky at the time as my bank had a special interest rate for a six month term. I made quite a bit of money just by putting the house’s cash in a GIC in and waiting half a year.
you all probably dont care at all but does someone know a tool to log back into an Instagram account? I stupidly forgot the password. I would love any tricks you can offer me!
Hi fcf777, usually for non-redeemable GICs the interest rates tend to be higher since you're locked in. However, that isn't always the case so you want to review both options. No point in getting locked in if you can get the same rate on a cashable investment. With either investment, you have to pay tax annually in non-registered accounts. Hope that answers your question.
Yes you can purchase GICs within an RESP. GIC options will vary depending on where your account is so you will need to speak with someone at your bank about what their offers are.
I think a lot of people buy GICs to add in some guarantee to their portfolio or as a short term solution if the money is earmarked for something else. I agree, ideally if you're investing you do so in order for your money to retain its value or grow above inflation. For some though, incorporating risk aside from inflation into their portfolio isn't something they are comfortable with. So, worst case scenario would hopefully be to at least reduce the impacts of inflation.
lol. NFTs are for suckers and bitcoin and ethereum are far too volatile for your whole portfolio. you sound like one of those game spot bros. i mean, you can't even SPELL CRYPTO properly and you're giving investment advice?? at best, a smart investor would put maybe 10% of their portfolio into an EFT that gives them crypto exposure. Actually using $$$ to buy bitcoins? retarded.
WHEN MAKING RETIREMENT PLANS, HAVING PASSIVE INCOME IS MORE CRUCIAL. Big ups to everyone working effortlessly trying to earn a living while building wealth. I'm 40 oand my wife 34. We are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.
I invested a chunk of my savings into a 5 year GIC, planning to ladder my savings in 5 year investments just the way the video says. That was a mistake for me. It's stuck there at a very low rate while my 1 year GICs are earning much higher rates of return. Now I prefer to ladder my GICs in 1 year investments with one maturing every month. That way I never have to wait very long to have access to 1/12th of my savings should I need it. Being very risk averse this works well for me.
You can take the 5 year ladder out after 1 yr. I did that and reinvested it.
everything is weird now (2nd q 2023). 18month/2 year GICs are paying the highest rates. i'm fine with putting 50k into a 16 month GIC that pays out at 5.2%. We'll see where we are then.
Hi, Thank you for your video. What is your opinion what is more safe for some really tough times, collapses, depression, currency devaluation.... GIC, bond, treasury, if we put safety ahead of return? Thank you.
Great information. Thanks very much...!!!
THANK YOU FOR THE GREAT TIPS ON GIC INVESTING, ME, I NEED TO USE MY TFSA AND WAS WONDERING HOW BEST TO STRUCTURE MARKET LINKED GICS IN A TFSA. YOU CREATE VALUE FOR ME AND OTHERS NOT SURE WHAT TO DO WITH OUR DOLLARS
Yu end up making zero but get oyur principle amount back.
Just determine your limit, ex. 10k. Then use only that amount to deposit in 5 different GIC's with maturity of 1-5 years so 2k each.
This is very comprehensive👍🏼
Thank you vishant!
great content
Thanks Julian 😀
Would it be possible to have linked GIC on TFSA account? 😊
Yes they are available
What about a TFSA GIC and taxes?
Yeah that is why you get your GIC in a TFSA so you dont pay tax on interest. Kinda forgot to mention that.
Can I invest in GIC from the money parked in my TFSA ?
Yes, you can definitely purchase GICs within your TFSA. If you have a chance, check out our video that talks more about purchasing investments including GICs and savings accounts online and how to get higher returns than what you would typically get at your bank: ruclips.net/video/biG0YNoBgMg/видео.html
@@TheIndependentDollar Thank you very much. Appreciate your response
@@charundave yes, god yes. don't just park cash into a tfsa. invest it. that's what it is there for. the government should have called them tax free INVESTMENT accounts.
Is it still taxable if you are doing is through a TFSA?
Hi Yasmine! If you're purchasing them within your TFSA, then they would be tax-free 👍
lol. what part of TAX FREE don't you understand?
I sold my house and looked around for a place to park my money while waiting to buy a new home. I was lucky at the time as my bank had a special interest rate for a six month term. I made quite a bit of money just by putting the house’s cash in a GIC in and waiting half a year.
Nice! Smart move too since you weren't risking any loss on your investment.
What GIC have you bought pls
you all probably dont care at all but does someone know a tool to log back into an Instagram account?
I stupidly forgot the password. I would love any tricks you can offer me!
@@zainabh6988 Can’t remember the name exactly, but it was with TD Canada Trust.
@@emmittzahir8427 there should be a way to reset your password!!!
Love your Chennel
Thanks Smattymatty!
what is the difference in interest rates between redeemable and non-redeemable GIC's?
Hi fcf777, usually for non-redeemable GICs the interest rates tend to be higher since you're locked in. However, that isn't always the case so you want to review both options. No point in getting locked in if you can get the same rate on a cashable investment. With either investment, you have to pay tax annually in non-registered accounts. Hope that answers your question.
Can I invest GIC in RESP? what is the best GIC for 5 yr term?
Yes you can purchase GICs within an RESP. GIC options will vary depending on where your account is so you will need to speak with someone at your bank about what their offers are.
my GIC is a TFSA
You're GIC was probably purchased within your TFSA but you can also buy additional investments within that same account if you have room available.
Is there really a secret? Step 1: Just increase your principle deposit into a longer term investment plan. Step 2: patience
Why would you purchase a GIC? If your GIC returns 1.5% and inflation is 2% you are safely losing 0.5% every year plus tax!!!
No thanks.
I think a lot of people buy GICs to add in some guarantee to their portfolio or as a short term solution if the money is earmarked for something else. I agree, ideally if you're investing you do so in order for your money to retain its value or grow above inflation. For some though, incorporating risk aside from inflation into their portfolio isn't something they are comfortable with. So, worst case scenario would hopefully be to at least reduce the impacts of inflation.
@@TheIndependentDollar 100% spot on the last statement about hedging against inflation. GICs are better than normal savings account.
It beats losing everything in the stock market.
you're right - back then. today, i'll take a guaranteed 5+% return any day. dump bonds and buy GICs!
Invest in Crpto, NFtS and Metaverse. This is the future.
lol. NFTs are for suckers and bitcoin and ethereum are far too volatile for your whole portfolio. you sound like one of those game spot bros. i mean, you can't even SPELL CRYPTO properly and you're giving investment advice??
at best, a smart investor would put maybe 10% of their portfolio into an EFT that gives them crypto exposure. Actually using $$$ to buy bitcoins? retarded.
Nope, that’s smoke and mirrors
WHEN MAKING RETIREMENT PLANS, HAVING PASSIVE INCOME IS MORE CRUCIAL. Big ups to everyone working effortlessly trying to earn a living while building wealth. I'm 40 oand my wife 34. We are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.
I want to invest but don't know how to as I am a Begineer, can you direct me ?