How would you invest $1k/month...

[Super_Geo]

Hey so I figure I better set up some sort of saving/investing regime to clamp down on my spending. After living/spending expenses and paying back my university debt, I am left with $1000 to invest each month.

I was thinking of buying a 1-year GIC for $1000 every month. TD has a 1-year GICs going for 3.75%, which isn't much more than inflation, but then again what can you do. I was originally planning on going the mutual fund route but then they require igher initial capital (which I don't have), and of course there's the risk involved.

What would you guys suggest in this scenario? Thanks!

[khtm]

Do you have a work-sponsored investment program? Like a group RRSP or something? If so, max out your contributions to that and usually your company will match a certain percentage.

It's ridiculous how many people don't take advantage of that, usually because the formulas are too confusing ;)

[01RedDX]

.

[googe]

GICs suck. that being said, still better than nothing i guess. i would say real estate, but i dont wanna open that can of worms again :D

[Weapon_R]

My BMO savings account gives 4%, so you should definately look for a bettter paying rate.

[eblend]

yah pc financial interest plus account also does 4% on savings over $1000 + annual bonus (whatever that comes out to i have no clue)

[Super_Geo]

Really? 4% in a savings account? What the shit... those greasy lying bastards at TD! "Our GIC Special gives some of the competative returns on the market at 3.75%," geez, I can't believe I wasted my lunch hour meeting with their rep.

So with BMO and PCFinancial can you still move your money out? I'm assuming so eh...

[djayz]

theres some banks that are offering 5% GIC...there was an article in the globe and mail a week back.

ICICI bank and ING have better savings rates than TD's GIC but if you can save 1k a month id look into some mutual funds or even dividend funds. Talk to your investment advisor at the bank and choose out some mutual funds.

[pinoyhero]

You dont need a ton of dough to get into a mutual. Keep in mind the 3.75 GIC triggers a full income tax so if you have a marginal 35% rate your only taking home 2.43%, at least with a mutual fund you can get closer to a 6% or more return with only half of the gain taxable.

[max_boost]

RBC Dividend
http://globefunddb.theglobeandmail.com/gishome/plsql/gis.fund_pro?fundname=RBC+Canadian+Dividend&pi_universe=PUBLIC_FUND&product_id=
6% year to date. 15% average over the past 10 years.

Sell within the first 7 days, 2% charge. Sell within the first 30 days, 1% charge. Sell after 30 days, only tax implications apply.

You are better off parking your money here or in some sort of moderate risk equity fund and let it grow while you figure out what to do.

What to look for in a mutual fund, low management expense ratio, well managed, solid holdings, one with steady growth (history of consistent performance) average 8-10% since inception, not volatile, very few negative return years.

Since you are now making good money (you are an engineer) you'll be paying lots of taxes. Why not open a self direct RRSP. It's tax sheltered and you can hold any kind of investment in there you want. Or if you prefer you can just invest outside of an RRSP and just pay capital gains as you make money.

Are you saving up for anything in particular? i.e a house? or just saving so you don't blow it? :D

[Super_Geo]

Originally posted by max_boost
Are you saving up for anything in particular? i.e a house? or just saving so you don't blow it? :D

Sure am: This guy! (http://msnbc.msn.com/id/14602796)

Haha, but seroiusly... I think I'm going to set up an RRSP and put $20k into it as fast as possible so I can throw it towards a downpayment for a house (hopefully this turns out to be true... (http://forums.beyond.ca/showthread.php?s=&threadid=144348)).

That RBC fund looks pretty promising... total worth of $7billion? :eek: Thanks for the heads up!

[bspot]

Originally posted by Super_Geo


Sure am: This guy! (http://msnbc.msn.com/id/14602796)

Haha, but seroiusly... I think I'm going to set up an RRSP and put $20k into it as fast as possible so I can throw it towards a downpayment for a house (hopefully this turns out to be true... (http://forums.beyond.ca/showthread.php?s=&threadid=144348)).

That RBC fund looks pretty promising... total worth of $7billion? :eek: Thanks for the heads up!

Don't use your RRSP to hold a down payment for a house, especially as an engineer! I made that mistake.

Lets say just for easy numbers now you make $50,000, so by putting your RRSP in you're getting tax savings on $50K. You have to pay it back to yourself in 15 years with no tax benefeit.

If you wait, you'll have a huge unused RRSP contribution ammount, so you can dump that same $20K in later when say you're making $100,000 and the tax savings are obviously much better.

[Si_FlyGuy]

Originally posted by bspot


Don't use your RRSP to hold a down payment for a house, especially as an engineer! I made that mistake.

Lets say just for easy numbers now you make $50,000, so by putting your RRSP in you're getting tax savings on $50K. You have to pay it back to yourself in 15 years with no tax benefeit.

If you wait, you'll have a huge unused RRSP contribution ammount, so you can dump that same $20K in later when say you're making $100,000 and the tax savings are obviously much better.

You're right, except that the next tax bracket is just under $73k for this year, which means that he would need a hefty (not impossible) raise or bonus to take advantage of that plan. The unsheltered earnings between now and the time it takes for him to earn well over that amount may not be worth it.

[max_boost]

Originally posted by Super_Geo


Sure am: This guy! (http://msnbc.msn.com/id/14602796)

Haha, but seroiusly... I think I'm going to set up an RRSP and put $20k into it as fast as possible so I can throw it towards a downpayment for a house (hopefully this turns out to be true... (http://forums.beyond.ca/showthread.php?s=&threadid=144348)).

That RBC fund looks pretty promising... total worth of $7billion? :eek: Thanks for the heads up!

The thing with mutual funds, there are a gazillion out there. Each company has a different philosophy and objective. Every company is different so look over the prospectus regarding things like fees, early redemption penalties etc. You can buy into different sectors i.e. energy, resources, technology, bio-medical, indexes, even different holdings in parts of the world, european funds, asia funds, international funds etc. :eek: kind of overwhelming if you ask me.

The RBC Dividend was a no brainer for me. Solid growth. Solid holdings. Well managed. If the next 10 years will yield an average of 15%/year, oh man life will be gooooood. :bigpimp:

[TrevorK]

Mortgage Investment Fund
~10% return investment in the Alberta/BC real estate market, while diversifying over 30-40 properties.

[Dave P]

Go out and invest it in good times
ha

[Weapon_R]

Originally posted by Super_Geo

So with BMO and PCFinancial can you still move your money out? I'm assuming so eh...

With BMO you can move money in and out at your leisure. It's just a simple savings account.

[Super_Geo]

Originally posted by Dave P
Go out and invest it in good times
ha

Haha that's exactly what I'm trying to curb! After being a poor, frugal university student for 4 years it was waaay too easy getting used to blowing through a paycheque like nothin'.

[pinoyhero]

Originally posted by max_boost
RBC Dividend
http://globefunddb.theglobeandmail.com/gishome/plsql/gis.fund_pro?fundname=RBC+Canadian+Dividend&pi_universe=PUBLIC_FUND&product_id=
6% year to date. 15% average over the past 10 years.

Sell within the first 7 days, 2% charge. Sell within the first 30 days, 1% charge. Sell after 30 days, only tax implications apply.

You are better off parking your money here or in some sort of moderate risk equity fund and let it grow while you figure out what to do.

What to look for in a mutual fund, low management expense ratio, well managed, solid holdings, one with steady growth (history of consistent performance) average 8-10% since inception, not volatile, very few negative return years.

Since you are now making good money (you are an engineer) you'll be paying lots of taxes. Why not open a self direct RRSP. It's tax sheltered and you can hold any kind of investment in there you want. Or if you prefer you can just invest outside of an RRSP and just pay capital gains as you make money.

Are you saving up for anything in particular? i.e a house? or just saving so you don't blow it? :D

I like thr RBC fund and because its all Candaian content you get the domestic cap gains advatage, makes it hard to beat. Over a longer time horizon you may be able to get more agressive and into a higher risk type fund as the longer term will allow you withstand larger volatility. That being said there is nothing wrong with this fund over a long time horizon, I would love 15% over 10 years!

[billy36]

Originally posted by Weapon_R
My BMO savings account gives 4%, so you should definately look for a bettter paying rate.

that's funny, I tried finding more about this account, couldn't find anything paying this high rate

these are the rates I could find

http://www4.bmo.com/personal/rates/0,4481,35649_3507279,00.html?pChannelId=0

[Tik-Tok]

I will be in a similar situation soon. I plan on putting $500 more a month on my mortgage, and $500 into mutual funds/rrsp's

Some people criticize me for wanting to do it this way because mortgage rates are half of what a mutual fund will earn you, but if the mortgage rates ever go back up into the 10's I want as much of my mortgage paid off as soon as possible.

[andres_mt]

Originally posted by max_boost
RBC Dividend
http://globefunddb.theglobeandmail.com/gishome/plsql/gis.fund_pro?fundname=RBC+Canadian+Dividend&pi_universe=PUBLIC_FUND&product_id=
6% year to date. 15% average over the past 10 years.

Sell within the first 7 days, 2% charge. Sell within the first 30 days, 1% charge. Sell after 30 days, only tax implications apply.

You are better off parking your money here or in some sort of moderate risk equity fund and let it grow while you figure out what to do.

What to look for in a mutual fund, low management expense ratio, well managed, solid holdings, one with steady growth (history of consistent performance) average 8-10% since inception, not volatile, very few negative return years.

Since you are now making good money (you are an engineer) you'll be paying lots of taxes. Why not open a self direct RRSP. It's tax sheltered and you can hold any kind of investment in there you want. Or if you prefer you can just invest outside of an RRSP and just pay capital gains as you make money.



More or less what im doing. Great choice. :thumbsup:

[pinoyhero]

Originally posted by Tik-Tok
I will be in a similar situation soon. I plan on putting $500 more a month on my mortgage, and $500 into mutual funds/rrsp's

Some people criticize me for wanting to do it this way because mortgage rates are half of what a mutual fund will earn you, but if the mortgage rates ever go back up into the 10's I want as much of my mortgage paid off as soon as possible.

This isn't a bad idea, but keep in mind if int rates started taking off and out running your gains on your mut fund you could cash out the mut fund and throw it on your mortgage. However while your mut fund over performs your mortgage int rate, may as well load up on mut funds. Keep in mind tax treatment though...

The gains on a domestic mut fundwill be taxed based on half of the gains * your marginal tax bracket, say 36%, so you'll be paying %18 of your gain back. Say you can pick up 8% consistently on the mut fund you only keep 6.56% vs savinf about 6% in interest on your mortagage. The extra.56% probably isn't enough to justify the small but existent volatility in the mut fund.

That all being said, unless your mut fund it outperforming your mortgage rate by, in this case about 4%, then plowing the bucks into your mortgage and saving at a risk free rate is the king here.

[pinoyhero]

Forgot to mention some other items like RRSP tax advantages and "writing off" interest paid on dollars used to invest but you get the idea...

[Si_FlyGuy]

Originally posted by bspot


If you wait, you'll have a huge unused RRSP contribution ammount, so you can dump that same $20K in later when say you're making $100,000 and the tax savings are obviously much better.

I forgot to mention that you do not have to deduct any or all of your RRSP contributions for each year. You can tax shelter any growths in an RRSP, but claim the deduction on a subsequent year when you're in a higher bracket.

[Toma]

You know, I have a strong feeling the stock markets are on the rebound, and honestly feel we will see 14,000 on the dow this year.

I would check out mutual funds and stay waway from energy. Despite the huge BS in the middle east, wars etc... oil cannot seem to break new highs. This is a sign to me that it is about to tank. I really feel Bush has been largely reponsible for the oil "boom" and has been busy making billions for himself and his friends, but seems he is out of steem no matter what sort of BS he starts worldwide,

With oil down, gold so high, real estate peaking and declining, I thinks stocks are next in the cycle as the market has been docile for a couple years....

If you are a worrier, even international bond funds seem to average 8%+

I would invest in something like a split.... international bond fund, mid cap stocks, then some sort of aggressive growth....

Just my opinon, and what I am investing in....

[pinoyhero]

^Interesting theory, I like that type of fundamental/conspiracy theory analysis :)

Great post, well worth reading, not that I necessarily agree with it but at least its well thought out.

[biggie_82]

Your situation is typically a no brainer. As mentioned by some already your best to put your money into an RSP.

Given the info you have provided us already the money sounds like it's mainly for savings towards a home.

Find out how much RSP contribution room you have (usually off your Notice of Assessment) and begin a plan to start contributing to an RSP. Not only is it tax sheltered growth but it will also lower your taxable income.

As mentioned by some already: use up to $20,000 from your available amount in the RSP under the Home Buyer's Plan as the first withdrawal towards your home purchase (if you have a spouse or common law they can use their RSP as well).

Also mentioned already: you will have to repay the RSP back 2 years after the withdrawal so plan ahead - changes in income, monthly budget (are you going to be able to make a lump sum repayment or spread it out over 15 years while also making sure you have available funds to take care of RSP contributions for each of those years).

There has been so objection to using this to help buy that home but keep in mind that your home is going to be at the moment the single greatest asset you will purchase in your lifetime. The easiest way to save is the RSP since it will lower your taxable income (thus paying less taxes) and also keep your investment income sheltered from taxes.

The downpayment will be a huge factor as you will need to consider anything less than 25% down on the home will result in an automatic default insurance premium.

Also keep in mind: sale proceeds from a property which is considered your primary residence is tax free.

Start the RSP in my opinion.

[wtb]

i'd risk it and put $1000 a month into a bunch of jr oil companies and mining companies...maybe u'll find the diamond in the rough

[pinoyhero]

Originally posted by wtb
i'd risk it and put $1000 a month into a bunch of jr oil companies and mining companies...maybe u'll find the diamond in the rough

Laughable, this post adds no value whatsoever. Why not suggest he got by 1000 lottery tickets, maybe he'll find a winner.

[natejj]

Originally posted by pinoyhero


Laughable, this post adds no value whatsoever. Why not suggest he got by 1000 lottery tickets, maybe he'll find a winner.

Lottery Tickets odds are 1 in a million. Do research before hand, its really not that hard to pick a winner. I've been trading Jr oil and gas and mining companies for a year now, have made some decent dough.

[msommers]

I have an account with Investor's group, ended up setting up a non-registered savings account. High risk equity, I forget the exact name of it but something to do with natural resources, can't go wrong :D

[Xtrema]

Originally posted by Toma
You know, I have a strong feeling the stock markets are on the rebound, and honestly feel we will see 14,000 on the dow this year.

I would check out mutual funds and stay waway from energy. Despite the huge BS in the middle east, wars etc... oil cannot seem to break new highs. This is a sign to me that it is about to tank. I really feel Bush has been largely reponsible for the oil "boom" and has been busy making billions for himself and his friends, but seems he is out of steem no matter what sort of BS he starts worldwide,

With oil down, gold so high, real estate peaking and declining, I thinks stocks are next in the cycle as the market has been docile for a couple years....

If you are a worrier, even international bond funds seem to average 8%+

I would invest in something like a split.... international bond fund, mid cap stocks, then some sort of aggressive growth....

Just my opinon, and what I am investing in....

I agree. Everything is over inflated and should readjust soon. Real estate in Calgary is already returning to normal. So is the oil prices.

Even oil companies are cashing in on their assets. The down cycle on oil is coming.

[pinoyhero]

^I'm not sure I understand what you mean by, "everything is over inflated", the post your are quoting s calling for a DOW of 14000 which would mean its undervalued, not inflated. Also not sure what you mean by the Calgary real estate market returning to normal, what is normal? I think the market went through a correction, if you stating that the market will go back to pre-correction numbers as that was normal, I think you're in for along wait.

As far as "normal oil prices", again not sure waht you mean by normal, $30, $40, $50? I certainly don't think they are on their way down there very soon what with all the unrest in the east.

[sputnik]

Originally posted by Xtrema
Real estate in Calgary is already returning to normal.

I guess it depends on what your definition of "normal" is. Personally I dont see prices dropping too sharply. I just see houses selling in 2-3 weeks instead or 2-3 days.

[pinoyhero]

^thanks, pretty much what I just said.

[NGRPLZ.NET]

Originally posted by Super_Geo
Hey so I figure I better set up some sort of saving/investing regime to clamp down on my spending. After living/spending expenses and paying back my university debt, I am left with $1000 to invest each month.

I was thinking of buying a 1-year GIC for $1000 every month. TD has a 1-year GICs going for 3.75%, which isn't much more than inflation, but then again what can you do. I was originally planning on going the mutual fund route but then they require igher initial capital (which I don't have), and of course there's the risk involved.

What would you guys suggest in this scenario? Thanks! With 1000 in disposable income? Wow.. that's a good question. I find myself spending a lot of money.. needing control of that.

I would say save a sizeable portion of that and buy property somewhere.. use the 1k per month to pay into that mortgage and rent the place out... perhaps a condo in penticton or something.

No one is making anymore dirt..

[Nitron88]

investing it in real estate is a good idea.. putting it in a savings account will only help you keep up with todays inflation rate only.

[pinoyhero]

^This is only a good idea if you have the time down payment, commitment to cash flow and money. Even with these I think the 1k wil get you about 170K worth of mortgage.

Most savings account wont keep you up with inflation especially in this city.

[NGRPLZ.NET]

Originally posted by pinoyhero
^This is only a good idea if you have the time down payment, commitment to cash flow and money. Even with these I think the 1k wil get you about 170K worth of mortgage.

Most savings account wont keep you up with inflation especially in this city. Yes.. timeline I was meaning this:

Save 24k over 2 years

Downpayment on a property 10%

Rent the property for the monthly.

[rmk]

[Bump]

I know is an old thread and all, but I find myself in a similar position as the OP did in '06. I will have $1,000/month to invest in after all of my expenses are paid off. I currently rent an apartment, no kids, not married, no liabilities, secure job.

What would you guys do in 2008?

[ZorroAMG]

Put the 1k in a high interest savings until you have at least 10k, then PM me :D

Mutual funds, rrsps = passive low yield investing.

[Subwoofah]

Invest into airlines and travel companies for the short term and in renewable energy for the long term...
Real estate is also good to invest in. Maybe you could get an apartment complex investment which offer good returns in the US? Or a hotel in thailand or vietnam... you dont need to do anything 'cept wait 3-5 years.
Or buy sell cars from the US... somehow you got to get the new US cars here.

Anyhow, at least put the money into a bank with a high savings accounts while you think things through.

[ZorroAMG]

^huh?


*hides his investment capital from Subwoofah*

[DJ_NAV]

I am in the same situation... stable job, no liabilites.. can easily save $1k a month and its going to high interest savings acocunt... but i know my money can do better?....

i'm thinking of investing into oil&gas and maybe into apple... before the iphone comes out. my goal is to have 25k in less than 2 years to get a rental property that will pay itself......

and then save another 25k and another property-obviously the second 25k will be easier because i will get raises at work.

any feedback is appreciated....

[Canmorite]

Originally posted by DJ_NAV
I am in the same situation... stable job, no liabilites.. can easily save $1k a month and its going to high interest savings acocunt... but i know my money can do better?....

i'm thinking of investing into oil&gas and maybe into apple... before the iphone comes out. my goal is to have 25k in less than 2 years to get a rental property that will pay itself......

and then save another 25k and another property-obviously the second 25k will be easier because i will get raises at work.

any feedback is appreciated....

If you NEED that 25K to invest in a property, don't invest it in individual stocks. Your 1K a month could evaporate quite quickly. Basically, don't invest money you can't afford to lose.

I'd take 500 of that a month and put it into a managed RRSP account. You can set it up so your bank auto draws that money. Set it, forget it. Come back in 30-40 years and you'll have a good pile! (Hopefully).

The other 500, invest it in higher risk opportunities. There are tons of companies that can invest your money for you, but most have a minimum of $10K.

If you have outstanding high-interest debts, get rid of those first. Theres no point in paying 15%+ on CCs and other loans, if you're only making ~10%.

[SteveMo600]

I wouldn't recommend putting the $1000 all in one investment area. You may not think $1000 a month is that much money, but a very large percentage of society doesn't have that kind of cash to save.

I would suggest putting a portion into RRSP. You'll get the tax deduction benefit however the down side is that you won't realistically want to touch the money til you're old and grey.

Find a diversified fund and put a chunk in that. You don't need a whole lot of capital to invest and although the market is always risky, think long term.

Then put a chunk on pre-payments on your mortgage. People are saying that "if you're mortgage rate is less than you return it's obvious to put it money in investments." I personally think it's a balance and also, putting money on your mortgage means you're paying less interest in the long run on your future payments.

Allocate the money into a bunch of things. Don't listen to the guys saying invest it in risky equities to try to hit a jackpot...that's ridiculous. Be smart.

[Subwoofah]

Fast track capital has a min $5000 investment program in the states... alternatively, if you are a lucky person you could put $500 into penny stocks... or play slot machines at the casinos if you got the time. ;)

[Rat Fink]

.

[max_boost]

Rat Fink and Canmorite nailed it.

I was doing alright in the beginning, got full of myself so I levarged myself a bit and suffered a huge beat down. Went through those novice mistakes last year and got PWNED!! God damn it. What I would do to get my $25K back! :eek: :cry: LOL

[Subwoofah]

Is anyone watching this company? Their leaders look pretty experienced.
http://www.nanosolar.com/team.htm

and take a look at their careers section...

"You must have either a demonstrated track record of world-class ability in your field, outstanding academics, or other evidence of exceptional ability including winning national or international competitions or having personally built successful hardware."

I want to buy... anyone know any other solar stocks to look for?

My friend also suggested Geely (a chinese auto manufacturer) its selling for pennies right now but maybe in 10 years...

[prae]

Originally posted by pinoyhero
You dont need a ton of dough to get into a mutual. Keep in mind the 3.75 GIC triggers a full income tax so if you have a marginal 35% rate your only taking home 2.43%, at least with a mutual fund you can get closer to a 6% or more return with only half of the gain taxable.

troof right here, GICs are safe but usually a waste of time

[prae]

haha totally uninsightful tidbit from prae. my contribution pales in comparison to the good shit from the guys earlier haha.

[bobby_lu]

Originally posted by max_boost
Rat Fink and Canmorite nailed it.

I was doing alright in the beginning, got full of myself so I levarged myself a bit and suffered a huge beat down. Went through those novice mistakes last year and got PWNED!! God damn it. What I would do to get my $25K back! :eek: :cry: LOL

:werd: :cry:

[syeve]

Originally posted by eblend
4% on savings over $1000 + anal bonus

fixed

[prae]

Originally posted by syeve


fixed

everybody loves an anal bonus :eek:

[Canmorite]

Originally posted by Rat Fink

I have risk management that would make a suicide bomber nervous as shit.....

:rofl:


Originally posted by Subwoofah

I want to buy... anyone know any other solar stocks to look for?

My friend also suggested Geely (a chinese auto manufacturer) its selling for pennies right now but maybe in 10 years...

All the big solar stocks have very high P/E's right now because of future prospects of the industry. Your best bet is to research smaller public companies, or look for solar IPO's on the Venture exchange or US equivalent. Wind power is also growing :thumbsup:

[Khalil.e]

Bump again!

Some great reading in here - would anyone change their opinion at all if you had $2k to work with per month?

Mark - is your investment RRSP eligible?

[canuckcarguy]

Hey, anybody here have an opinion on Life Insurance?

I'm looking to carve about $500 per month into a life insurance policy, totally paid out within 20 years. I'm in small business, and I like that it's creditor-proof. Also, can borrow against the cash value tax free. Plus, if you're just out of school, the rates are extremely good.

But I haven't taken the plunge yet. Any opinions?

[ZorroAMG]

Originally posted by Khalil.e

Mark - is your investment RRSP eligible?

Of course it is! :)

[analbumcover]

did someone say anal? I've got you covered

[max_boost]

Originally posted by canuckcarguy
Hey, anybody here have an opinion on Life Insurance?

I'm looking to carve about $500 per month into a life insurance policy, totally paid out within 20 years. I'm in small business, and I like that it's creditor-proof. Also, can borrow against the cash value tax free. Plus, if you're just out of school, the rates are extremely good.

But I haven't taken the plunge yet. Any opinions?

I got a whole life policy through Statefarm. $500K coverage. $300/month. Started it when I was 23 I think. Forgot most of the details already. Basically cash value=payments made (break even) in year 17 (no factoring time value of money). Seem like a good thing at the time.....

[Dumbass17]

wow
i have no idea what any of those things meant

good thing i don't have an extra $1000/month i have to worry about how to invest :(

[slick2404]

I'm in the same boat as a few here.

I'll have about 2k/month to put somwhere each month...right now its just going into that RBC e-Savings (2.75%).
Secure job, no dependants, no rent (the joys of living at home), just day-to-day expenses.

Anyone look into 1st Calgarys Term Deposit campaign? I used to work for them but now moved on, but it seems alright.

This is what they advertise:
12month: 6months @ 2.75, 6months @3.75
18month: 9months @3.00, 9months @4.00
36month: 18months @3.25, 18months @4.50

Sept 1- Nov 30, minimum $500, full redeemable anytime.


I guess the only shitty part is once you put an amount in, you can't add to it....so by Nov 30, as much as I can save ~6k I plan to throw in there at the 36month rate. (Get as much as possible, take it out whenever)


Anyone have a better plan?

[max_boost]

I'd say keep it liquid. Opportunities will always arise.

[rc2002]

If you're going to throw it into a term deposit anyway, might as well throw it into a PC Financial savings account at 3.75% until November 30.

With all the promotion I'm giving PC, you'd think I work there or something. :nut:

[blownz]

^ I can't remember but don't they pay you the extra interest at the end of the year so you have to keep the money in longer at a lower rate before you can take it out? Something like that I think I heard...

[rc2002]

That's not true. You deposit it now and earn 3.75 on it until November 30. You get paid the normal interest (3.05) at the end of the month. Then they pay you bonus interest in December. No waiting at lower rates at all.

It's super easy to move money in and out.