GIC

Necessary_Tea201

Sell and put in GIC

dingleberry314

What's the rush when the interest on the debt is 0%. OP, buy a GIC that expires when the loan is due, you'll gross ~$400 on that $8k. Then use the principal to pay off the loan when it's returned.

Key-Mark4536

With a 2-year timeline I’d go with something safe like US Treasuries or a time deposit (CD 🇺🇸 or GIC 🇨🇦 , not sure what they’re called elsewhere). The stock market produces solid returns over time, but in shorter periods can be quite volatile. Historically about [20% of two-year periods](https://rokpovsic.com/what-is-the-chance-of-losing-money-in-the-stock-market.html) have seen losses, with about another 5% trailing inflation. 

givemeyourbiscuitplz

The S&P500 is not a safer place to invest at her age. What would be safer is an allocation made of different fixed income (mainly bonds and cash, money market, GIC). Dividend paying ETFs are on the "safer" side of stocks, but they're still stocks, so in the riskier asset class category. Keeping the loser or selling is psychologicaly difficult to decide. But if the money would grow faster somewhere else, that's the answer. Now that's not her goal, her goal so to have safer investments so that's the real answer. Sell losses and replace with something safer.

MaxDragonMan

Canadian here so I can't vouch as to investing in Europe or India, but in terms of the savings account: it's the right decision if you need it liquid. If the money you're putting in the savings account is money you'll need relatively 'easy' access to then yeah - 4% interest (at least here in Canada) would be a pretty great rate to keep your money in if you want it accessible all the time. If you're planning to use the money, move it around, etc, then keeping it in the savings account is a good choice. If you're just using that savings account as an alternative to investing in something else, then it's a poor choice: while we can't say when, eventually interest rates *will* come down, and with it, the % gain of that savings account. In the scenario you're using it as an investment that's 'safe', consider a GIC. Taking a quick look at Canadian options, it seems like there are promotional rates of 4.5%, which is a little better than the 4% savings account... And if you won't need access to that money for years, then there's nothing wrong with an ETF. Hopefully this helps.

MrKhutz

>Would u say that XEQT is better than a GIC at the moment…? If you want to use the money in the next few years, a GIC is better - XEQT could go down by 40% at any time - events like COVID in March 2020 or the "Great Recession" in 2008 both caused those types of drops. But money you are saving for the long term would most likely be far better off putting the money in XEQT. In many cases people will keep a portion of their savings in a short term GIC or high interest savings account as an emergency fund and their long term savings in a fund such as XEQT. For long term savings, XEQT is indeed very diversified and is designed as an "all in one fund" so is pretty much all you need.

Catroinerz

Okay that’s great to hear! Would u say that XEQT is better than a GIC at the moment…? Also, would it be smart for me to put most of my current savings into only that fund? I read that it’s very diverse on its own.

wranglermatt

If your time horizon is 5 years and you want to ensure a return you’d have to look at something like a GIC or Treasury Bills. If it’s truly “spare” money and you have a longer time horizon I’d throw it in a low cost ETF and forget about it for a decade or two. The average person can’t beat the market unless you are willing to put in a lot of effort first leaning about picking investments. And even then…

quackl11

If the economy is going down I'd go defensive stocks like wd-40 if only the stock market is going down t-bills, bonds, GIC's

Timely_Struggle998

I’m 31, live 45 minutes west of Vancouver Canada. Own a house worth 850k (410k owing) and have 320k cash in bank earning 5-6% through a GIC. I’ve always heard cash is trash. What should I be aiming to do, pay off my mortgage, invest in more real estate, or spread my money out in various different avenues to gain more interest? I’m lost and not sure what direction to go. Any advice is greatly appreciated

imlynn1980

If the time frame is 6-9 months, I wouldn’t do anything “aggressive”. Just buy a GIC or put in a HYSA.

Narrow_Elk6755

Do either allow manual GIC entry?

rainman_104

I'm enjoying my 5% GICs for the next five years right now and my stripped bonds yield. I think 5% guaranteed return is pretty damned good. I bought about $150k worth of fixed income of a $400k portfolio. $80k of that is a GIC ladder for my kids' university funds as my oldest is graduating this year, so it seemed wise to stabilize anyway.

flamingteeth

Thanks a lot for this. I am thinking about the same. It is a fairly big amount (Just For Me) and I want to play safe. I am currently having all the fund in a GIC (like saving account) which offers 5.5%. I plan to move the move to the brokage account to buy SPY/QQQ like etfs in a DCA way. The GIC saving interest is 100% taxable, and I am considering some dividend ETFs which can provide some tax advantage, but most of these funds also fluctuate, and some of the prices just drop over time... Or I am also thinking about putting into some SPY+Write put etfs, which provides some downward protection, but still if the market crashes, they will also go down as well. Are there any other better solutions? Thanks

RSCyka

Dividend investing is more of an end-game strategy or even not investing as it’s the cashing out part. As mentioned dividend investing also requires a big sum to draw a % from. Therefore the smaller your stash, the smaller your payout. If the question is “will investing in companies that pay high dividends (at the cost of growth) vs investing in companies that don’t pay dividends and instead reinvest it entirely get you ahead?” Then the answer is no. Even if you’re going to roll those dividends back into the stock you’ll have fees to pay. Since dividend investing is a very low return for the small portfolio, it’s common to see them pursue riskier strategies. Dividend investing is usually deemed safer as well. Less risk= less return (with common sense and when the math adds up) If I had some 4 M $ and was going to go on a 2-3 year hiatus, even then I’d probably stick it in a GIC rather than put it in a dividend paying stock. Just because if the portfolio dips that might cause 1000$s of less income. Basically, it’s not risky enough, and it’s not the safest either.

ExtremeAthlete

True. With Boeing, I’d rather money market, GIC or index.

Bigballer1999g

I agree, I never understood why people keep a bulk of there wealth in a saving account even if you want to use it soon you can do a cashable GIC giving you a better rate anyway…

JeffB1517

Most MMF do distribute monthly. Are you sure you aren't thinking stable value or GIC funds?

geokilla

My TFSA is mainly XEQT. Got about 20% spread between ENB, a 5% GIC, and XUS as well. RRSP is split between XEQT and VGRO.

I_Am_Procrastinatin_

You shouldn't be moving it around when you don't have much money to invest - the fees will eat up your money quick. If you can't stand to lose $180 you should put your money in a high-interest savings account, maybe a short-ish term GIC. ​ If you insist on investing with so little money, then an ETF is going to diversify your risk, but like everyone else is saying you shouldn't invest what you can't afford to lose. Nothing is guaranteed, and depending on your timeline you can end up losing a lot. You need time in market to make money, and you need to not freak out about fluctuations in either direction.

AluminiumCaffeine

My degenerate risky moonshot play of the month is $GDS, a bombed out Chinese data center provider/operator with a new venture in Singaporean data centers. Talks of raising outside funds for that Singapore data center vertical are rumored and earnings are upcoming. GDS itself has received investment from the Singapore sovereign wealth fund GIC in the fast as well - [https://investors.gds-services.com/news-releases/news-release-details/gds-and-gic-form-unique-strategic-partnership-develop-and](https://investors.gds-services.com/news-releases/news-release-details/gds-and-gic-form-unique-strategic-partnership-develop-and)

amach9

What in the holy hell are you trying to do with the NVDA calls/puts?? Sell them all and go buy some friggin GIC’s

Emergency_Bother9837

GIC, never invest money that you need within the next 5 years. If you need the money to invest in NVDA then that qualifies.

R0n1nR3dF0x

First congrats for being disciplined and saving this amount of money this young. In my country we have what we call Guaranteed Investment Certificate (GIC) but I'm not familiar with the US equivalent. I think bonds work the same way in the us, someone please correct me if I'm wrong. At the very least I would keep it in an high interest saving account. If 2 years bonds are a better option than it's a no brainer. The goal is to take as little risks as possible but at the same time shelter as much as possible your cash from inflation. Hope it helps! Good luck.

Arbiter51x

Nervous. Especially since it's tax time. I am expecting a return in April, and I typically invest it in my retirement account. But it's also my single largest annual deposit / etf purchase. So it looks like I'll be DCA'ing this year. Alternatively, maybe I need to investing something other that VFV/VOO for the first half of the year. Maybe just a GIC or HISA.

Canuck1stan

I went on my own 5 years ago. Started making real money. Last August I wasn’t sure what to do with 100k in my bank so I put it on a 1 year 5.1% GIC. Kind of regret because it would have done much better in xeqt, but hindsight is 20/20. Im 36 and have that 100k + 70k(not invested, company float kind of thing) in my business. 35k in personal (down 10k with amc- still holding 😔)I should probably at least go talk to somebody about what to really do with my money 😂

KAESLAX

It will definitely be very interesting to see what they eventually do with all of their cash. Until then I don't really see the appeal. Holding CRON is like investing in a cannabis-flavoured GIC or HISA. At least losing money on the other cash-burning dumpster fire LPs with the boys is entertaining.

PlumpkinMunchkin

Put money in a GIC. 1.5% interest earned after 3 months baby! LETS GOOOOOOOO! 

PlutosGrasp

I think if you invested and the price went up you could sell and generate “income” this way. What you might be interested in are dividends or GIC’s.

Fun_Reporter9086

What are you going to do, lol? Invest in GIC that can't beat the inflation rate, anon? 

quackl11

Can you find qualitative or quantitative data that says the market isnt stable right now? If so then stay out, if this is just fear porn that you're listening to that makes it seem like were ready to blow then get in the market, also something you could do is go into defensive stocks. And if you want to get safe growth why not put it in a GIC (CD if you're American I'm pretty sure its called)

rsjankowski

Would the C in GIC stand for contract or certificate as the certificates are Canadian and according to investopia would be more like a US. CD than a US. GIC?

oilberta38

I think there ate some 1 year GIC accounts at about 5%. That is the only guarantee return I can think of

DudeWithASweater

He could literally just put it in GIC and earn 4-5%. That's $300k a year.. 

HotNewspaper00

GIC or Cash.to

daenerbogson

NVDA is so easy money!! I just got my grandma to cash in her GIC’s and put it all in! She’s gonna love me forever. 🚀🚀🚀

talented_dismissal

I'm a Canadian citizen currently in the process of selling my house to become nomadic and am seeking advice on how to safely store cash with decent gains and relative security and stability without putting it into the real-estate. Newly a resident of Dubai. Early 40's. Self-Employed with business in Dubai, making several 6 figures/year. Debt free. After selling my home I will have approximately 800K CAD that I will not need for the foreseeable future. My goal is to continue contributing to this amount and in 10 years be able to live off the interest. Risk tolerance is low. I'm currently thinking to put it into a 2 or 3 year GIC but interested to learn what other worldwide suggestions this subreddit may offer. Thanks!

Competitive_Suit3323

This is definitely a sell. Lock that into a GIC for a year . That way you still have it.

zg44

Mike Wilson leaving MS' GIC feels like the type of thing that happens within 6-18 months of a generational top.

Cretonius

Whatever happened to the Apple car? That created a buzz in 2021. No word since. Zero buzz related to AI. They have lost their status as an innovator. Now they're just a CD/GIC.

ddrt2345wert

lol buy shares in low volatility, wait for social media sentiment following movements, sell calls, buy puts, bam turbo cash. both amc and gme and BBBY bought me my car/rent/retirement for 3 yrs before i went back to work cause i was bored. earning half my early pay on 1-3yr GIC's from dem gains. When musk went on SNL to pump doge i sold at .72 and made enough to cover insurance/gas/maintenance on ZL1 Camaro lol

Anonsldrwhistleblow

Just put your remainder in a 5% GIC and you’ll be back on track by 2200

Brushermans

No. It's an easy answer because the timeframes are misaligned. Stocks as a pure savings instrument are suitable for a 20+ time horizon. This is because their prices are theoretically based on the stock's potential for that timeframe, though the prediction for what that potential is varies day-to-day. At a more tangible level, stock prices are very volatile as people mentioned here, which means you could lose a huge percentage of your savings by the day that you need them in 2-3 years. There may still be better options than savings accounts that have a more suitable timeframe. One option is bonds that expire in 2-3 years and should give a higher yield than a savings account over that timeframe. Another option is a GIC which typically has a predetermined date at which you can withdraw the money. Even the options I mentioned as suitable may not be right for you if you may actually need the money sooner than 2-3 years. If there's a chance you need to withdraw it for a rainy day, it should be in a savings account or another nearly-liquid instrument. I hope this helps!

Aidan11

Forgive me if Im missunderstanding the sittuation (Im no expert) but couldn't he set 100k aside for repayment, invest the other 900k into a 1 year GIC at 4-5%, then rinse and repeat the following year. If he's only paying 2% interest he would still come out ahead with no downside potential, right?

daemonpenguin

> Have you had any experience with any of these platforms? Yes, I've been using one P2P lending platform for about two years. > How have your returns been? They've been okay. Once you account for charge-offs, defaults, fees, etc, I'm averaging around 6% return per year. So a little better than a HYSA or a GIC, but below the average growth of an index ETF. > Anything you particularly like or dislike about them? I like the diversity, I like that (maybe) it's helping people. I like having a source of passive income that isn't the stock market (especially during the 2022 drop). I dislike that it ties up my money. Lending medium loans P2P means my funds are tied up for a few years at a time. Money trickles back from the interest, but it'll take around three years to pull out all my funds if I decide to cash out since I need to wait for the loan to be repaid. On the whole it's been a positive experience. Though it takes some patience compared to stock investing.

RiceN_Beans

GIC rates are going up again in Canada

quackl11

I've already pulled out, I'm in GIC's instead so it's not like all my money is in cash, but I fear a crash and my risk appetite isnt super high rn

gamezzfreak

Investing is all about risk tolerant. If you dont take risk, then go with HISA or GIC. Once you chose stock, etf,dividen, certain risk already been taken. So the 2% you said is not apply in this case. Will you sell apple, microsoft when it 2% down??? The answer is no.

patrickswayzemullet

6 months don't make sense either. 21-45 days is the best. Tasty does the best volatility analysis (dumbed down enough to understand)... don't listen to youtubers that are selling theta as this "GIC" thing. I wouldn't close, I would let it play out. If you want my help, let me see your AMD Cost basis for the shares (without covered calls reduction) Covered call strike, expiry, and premium received... It then might be worth it to turn this into diagonal or vertical spreads...

Stright_16

I wouldn’t bother with GIC’s you can get the same rates with savings accounts rn. Don’t worry about the ‘risk’, it’ll be more volatile, but you will have good returns. I mean the S&P500 has returned like 10% compound interest average since like 1930. You’ll have more ups and downs as there isn’t any fixed income, but you shouldn’t need anything like bonds in the portfolio, they’ll just drag down the performance. If you want, you can put some money into a Wealthsimple Cash account and get 4% interest, have you decided on which broker you’ll use?

RaineNa

Also when you said the etfs aren't quite low risk does that mean I should maybe just set aside a portion of my money into like a GIC or a savings account? Or should I still invest it all?

Dank_Hank79

Man, I hate my parents and left home at 18 aand never returned.......every day i see posts like this of people in their early 20s with 6 figures saved up, makes me wish I had better home life when younger and could have stayed at home for the start of my working years to save up. Awesome job OP!!!! You've really set yourself up for financial success in the long term, you're further ahead than many people twice your age. Lots of good suggestions already, I would personally DCA into a low-cost index fund with any funds you don't plan on needing in the short to medium term for a car or home purchase. Anything you may need in the short to medium term can go into a HISA or GIC.

quackl11

So if this is for school money I would suggest government bonds or GIC's as they are gaurenteed if its personal I'd still suggest GIC currently based on how the economy is going but usually I'd say s&p500

Admirable_Simple2443

I need input and different points of views. Say you had 100k in Canada. Chilling in a Cashable GIC. 4.6%ish yearly. So 4600ish in that year. But you also have a TFSA investment into AP.UN with a value that brings in 4.80 a month with its dividend. So you wake up one morning do a little math, and come to a realization if the 100k was in the dividend you would recieve around 720 a month instead. Which would be your decision?

According_Web_8907

Fuck NVDA and fuck this “market”. Need to stick with my safe GIC’s and HYSA, fuck options

quackl11

This is why I'm out of the market along with other reasons, I'm holding about 38% of my money in cash, and only have maybe 10% in actual US stock market. I have some money in GIC's but I'm ready for the crash

Xerenopd

GIC

Kitchen-World-9387

Why cant i just get a couple million dollars so i can put it away in a 6% GIC that will pay me 100k a year completely risk free and i dont have to work?

CubanBrewer

What’s a GIC?

Kitchen-World-9387

It feels good to watch poor regards going all in with their life savings of 30k on stupid yolo optipns while i sit with my 2m GIC at 6% paying me 120k a year for the next 5 years completely risk free.

quackl11

Dont go in the market invest into GIC's/CD but if you dont have proof that its overvalued then DCA in like everyone else says

julietteisatuxedo

If you don't mind my asking what age group do you belong to OP ? Myself am early gen X and just finally getting comfy trading 10% of my portfolio. Got burned by a fast and loose investment advisor from my bank in 2008 and have been somewhat insecure since. I also need to protect my investments from myself as I can be impulsive, reason I have most of my assets in 5.5% GIC's lately. Looking to educate myself for when I retire and trade on a daily basis.

dezzyboy22

My logic is if I can make 10% in one month on a stock then it is significantly more profitable than a GIC at 5.5% which takes an entire year to mature. Explain to me why people make safe investments with their money which can yield minimal gains than what is wrong with making 10% in a month and then cashing that out? I never cash out when I am down and I don't buy risky or volatile stocks. This year I have bought and sold, Apple, Google, Microsoft, Costco, Mcdonalds and a bunch of Canadian bank stocks. I am not out here investing in penny stocks. Also when my Cad bank stocks arent getting returns I am still earning dividends so when the market comes back like it has recently I am making even more. You guys do you but telling people on reddit that you know better is actually the hilarious part. I don't believe looking at the current economic outlook (almost guaranteed recession in Canada) and evaluate how you want to invest your money. Having a bit of money on the sidelines is certainly not the worst thing as we enter the new year. Remember 2021 ended just like this with a massive rally and 2022 was a disaster

quackl11

1st yes there will be a recession between now and when you retire Should you hold it in an HYSA? Not nessecarilly because you dont know or have a time frame on when you think the crash will come if you think the crash will come this year hold it in cash, if you think this year will be fine hold it in the market and cash out next year or start dollar cost averaging out of the market An alternative you could do is GIC laddering for a bit if you can maybe do 1 every month for a year Of course we want to buy low sell high however it's hard to know where the top is that's why they say just stay in the market

BCECVE

There is good arguments to locking in 5% (1 yr or 2 yr GIC) if you are planning on using the money shortly (retirement, children's education, buying a house). Don't forget the S&P500 has a PE of 22 and the average for the last 70-80 years is 15 and 13-14 is the ideal buy point which means it is 70% over valued so don't get too cocky especially with all the insane new debt out there. Just saying Or is it different this time?

karnoculars

Yep, so many people piling into GIC's while equities were poised for a monster year, not recognizing that the very reason that GIC rates were high is the same reason that equities were cheap.

discovery999

Ask yourself this; “Is it smart to invest in a falling bear market?” Which do you prefer? Everyone wants guarantee but there is no such thing in the stock market. Long term trend is always up. Get a GIC for no risk.

Magjee

You can probably do better then GIC's 6%+ return is nice, but it's hardly big money   But I'm too weary to do much outside of it at the moment     I'm assuming you are Canadian, since you also called it a GIC TD had a nice offer for a new investment account, you could open one there, grab the new account bonus and the 14 month 5.35% GIC offer If you put in $5,000, you get $300 cash $5,000 + $300 + $321 = $5,621 after 14 months or a 10.65% guaranteed rate of return That is pretty good   You can even try double dipping, the above was for direct investing, if you open a deposit account you can get $150, but it has to be a TFSA/FHSA/RRSP Still a nice guaranteed return $5,000 + $150 + $321 = $5,471 after 14 months or a 8.07% guaranteed rate of return   Between the two you would get 9.36% on a $10,000 investment over 14 months I think that is pretty good   The remainder of the $100k you could look for similar stuff elsewhere, but I'm not sure you can match the above

Ljmac1

Hustle at your job, save , invest in “safe” return assets. (EX. ETF’s, GIC’s, companies that pay dividends that have long term staying power, like oil and gas or utilities companies) Have 4 main bank accounts set up. 1) daily expenses 2) bills 3) emergency fund 4) self directed investment account Works hours, save, invest. Repeat. Dollar cost average into your investments. Don’t develop a gambling mentality. It’s about long term investing not daily or swing trading. Good luck

Magjee

Already was one   I am sitting on mostly GIC's at the moment, but I do have other investments No mortgage, working fewer hours Keeping it nice and boring

pragya-1997

I am completely out of US\\CAD\\EU market. 60% in GIC 1 year at 6%, 20% in India market with monthly contribution setup for dollar cost averaging and 20% short position with leverage ETF on US\\CAD (20% increase in shares with -20% downturn).

longGERN

Should I get a heloc at 7.7% and put it in a GIC special offer at 5.7%? This loss is much lower than my stonks so really its like winning

quackl11

You seem like you want to invest in an index fund which is 1 stock that basically buys a piece of a share in this company and a piece of a share in that company over there and a piece of your buddy's company share I'd reccomend looking at the s&p500, the nasdaq composite, nasdaq 100, and or the dow Jones, Furthermore if you want no risk then I would suggest going to the bank and buying GIC's they will return lower on average but their not volatile and gaurenteed

farsh_bjj

I would park a good chunk of that in a GIC for a year or two.

longGERN

I do not, sir. You know what I got myself for christmas this year? Crocs. No, not the shoe.. The stonk. My stocking stuffer was a GIC in a bank account I forgot I had

shawndw

Cash etf's are funds that store all their assets in high interest savings accounts and pay the interest to it's holders in the form of dividends. By pooling everybody's money together and storing it in savings accounts they can secure interest rates that are comparable to some GIC's 4-5%. However unlike a GIC you have liquidity and can pull your money out at any time. I'm currently putting 80% of my invested money into a cash etf on the TSX called CASH which has a yield of 4.9% and monthly dividends.

ShrimpNStuff

Hello everyone, I'm pretty new to investing in general but I would like some advice on my current situation. This might be a bit of a read but I really am looking for honest opinions please. Basically I'm 29, living in Ontario, Canada, and just began getting my finances together last year finally. I managed to save about 4k in 2022 (I work low paying jobs) and another 7k this year. So 7.5k of my money is sitting in a TFSA mutual fund through Scotiabank (I've made about $100 profit since May), and the other 3.5k I have in my Wealth Simple TFSA and manage my portfolio there. I have been thoroughly enjoying managing my portfolio, and lately have been thinking that I am missing out on a ton of potential dividend growth by having my other 7.5k elsewhere. Do you think I should just move everything over into my Wealth Simple in order to really kickstart my dividend growth? Or keep that money aside in a "safer" mutual fund through Scotia? Now for the next piece of my puzzle. Next year I will be coming into some inheritance money. I do not know the amount, but based on what I do know, it will be somewhere up to 150k. I plan on putting a large chunk of whatever I get into dividend stocks within my TFSA and taking the spring/summer off work to bike across Ontario - something I've always wanted to do but could not afford to take time off for. The plan would be to use my dividends to fuel my very few, cheap needs each month (basically phone bill and food). I have to live a pretty frugal lifestyle in order to put any money away as it is. I am not a material person, and don't want to live in the city. My plan is to buy very cheap land in North Ontario and build my own infrastructure from the ground up - so I don't need a million dollars to live my life. I would like to have this money grow via drip for the next couple of years while I prepare the things I need to live the lifestyle that I want to live. Now I am just kind of looking for opinions in general here, but here are some of the stocks that I have really come to like since beginning investing and would probably put most of the money into. I am less focused on massive growth, more on good yield with "safe" companies. ENB, AQN, BNS, CNQ, T, SRU, FTS, BMO, TOU, CU are some of my favourites. Generally they are dividend aristocrats/kings and offer from about 4-7% yield, with some REITS thrown in for good measure. I am trying to make sure I invest this money properly so that I can have an income stream that will be able to pay for the things I need while also reinvesting dividends to continue growth, and to have something to leave for my younger sisters when I am gone. So, what are your thoughts? Should I consolidate everything into my portfolio? Do you think the plan with my inheritance is fine? I considered putting some into GIC's since rates are good but I just feel like it will do more for me in dividends... Again I am new! Any and all help is appreciated thank you for reading!

ariesdrifter77

I’d yolo it into a tax free savings account GIC.. oh wait, forgot I blew up my TFSA trading options

Irishfornuclear

Throw the earnings in a 1 year GIC/T-Bill and try it again with 1k

quackl11

So first off, make sure you have at least I'd say 1k on hand in cash more is better Since you dont know much yet I'd also reccomend going for 0 risk (higher the risk the higher potential return but you may also lose more) Dont invest anything you need in the near future, and if you're in canada then go to your bank and make an appointment and ask to open a tfsa, (idk what the equivalent this in the states) Ask to open a GIC (gaurenteed investment cetrificate) I'd reccomend doing 1 year just so you can get your feet wet redeemable if you want to feel more safe but non redeemable (for the year invested) returns usually close to 1% higher If you can go to the library get rich dad poor dad by Robert kiyosaki, read that book, also note reading isnt the same now as it is in high school you dont need to take notes and it's the things you're interested in. You're starting a good track right now, also go to r/finance, r/fire, r/personalfinance r/stocks These will all help you start learning about this stuff you're doing good though and once you see the returns you're not going to want to stop Imagine getting paid 400$ for doing nothing for 1 year with your money that happened to me this year, and next year I'm getting 600 for doing nothing again. Also something else, doing this will start making finances harder so start a google spreadsheet and keep track of how much money you have where update it every few days or every week and watch the net worth go up

quackl11

So with stocks when the price goes down I buy more shares say 5 shares as oppose to 3 With GIC I always buy the same amount and I just get a different amount of Roi, and it would work great because after a year I get 1050 to invest as oppose to 1040 for the week however that doesn't work on paper since gic rates dont follow the same pattern they fluctuate with the economy so maybe the best gic rate will be on the week you got the 1040 as oppose to the 1050

quackl11

Does dca work the same for GIC's as it does for stocks? I feel like I have an argument for both sides

gcko

Fuck that I’d stick it into a 5% GIC and live off the 500k or 5M every year.

bolobotrader

Depends on your time frame. If you need to use money within 5 years, play it safe. GIC or treasury bill.

labimas

It is 1 year GIC, just to get by this weird timing and invest later long term.

biglabs

How old are you? if your not touching this $ for 20,30, 40 years- go stocks if you planning on withdrawing in 5 years, GIC’s 100%

Aine_Lann

Is that a 2 year GIC? I wouldn't call that long term. That being said, 6% sounds pretty good and the stock market is funny.

Mouserman145

Take a sizeable chunk, say $50,000. Invest it in a few ETFs. Grab a few different ones. Growth. Balanced. S&P500. Maybe energy. Whatever you like. Can buy all at once if you like. Or have fun trying to time the lows. Then take another $50,000 and buy a GIC. 5-6% locked in for a year or two. Review both when the GIC matures. How did you do? You can take baby steps. Try doing things on your own. A little at a time. Build some experience and s few scars too. You don’t need to jump all-in at once.

FringeDerivatives

Main account ~45k VXC.TO 31% -Global all cap ex Canada AVGV 30% -Global small cap value BNDW 10% -Global bonds COW.TO 6.5% -Global agriculture GLDM 5.6% -Gold WBD 9.4% Haven't learned my lesson betting with options having previously blown my life savings. Still mess around with 5%-10% of this acount. 10k in GIC 7k in emergency account. 38 years old with 50k income (Def consider this low income nowadays). Rent a room from my sister and don't have a car. Considering going back to dumpster diving to save money on food. Cheers,

seabee2113

I just switched over to a 1.5 year GIC @ 6%. I just don't find the risk reward is worth it right now when I can get 6% risk free. But it's all up to your goals and risk allowance. If you holding for 20 years, there really no wrong time to get into the market.

alik604

The above advice plus, Locked in GIC so you can't touch the money

NachosOnMars

Okay. Thank you. At this moment, I think I will go more on GIC on HISA. Thanks

longGERN

You're so bad at investing that your GIC went down

Mouserman145

I suggest more education to reign-in your emotions. You don’t sell when prices are dropping. You buy more. You have not suffered any losses until you cash out. Don’t cash out. You’ve lost nothing. My unrealized value is down about $35K in the past 6 weeks. I don’t care. It matters none as I’m not cashing out. Just this morning I bought more stock. I will continue to do so. I’m not investing money that I can’t afford to lose. If I need the money, then I’ll either leave it in my bank account or lock it in to a guaranteed GIC.

LCmeplzbro

Throw that 140k into GIC's while theyre high and go get yourself real jobs.. 16/hr? Come on

julietteisatuxedo

60 here, see if you can take advantage of current 5%+ high yield savings accounts or a ladder type GIC set-up. Find an investment counselor that you are comfortable with, or even pay someone by the hour. Sorry to see you getting so much grief. I've been running a machine shop for the past 40 years and have another 5-10 to go to get full benefits and add to my savings.

Impossible_Buglar

>GIC thats like a canadian CD or some shit right? the problem with a CD or any other vehicle where you commit your money for a fixed length of time for a fixed return is that you lose out if returns move higher. like if next month they offer 6% you're losing money being locked in at 5% but still good on you, i think overall its an ok play. this is the part problem with the US bond market at the moment right, if you can get a 10 year fixed return at 5% with basically 0 risk then a stock returning MAYBE 7% but with a bunch of risk looks a lot less attractive.

badtradesguynumber2

GIC s at 5%. staying solvent at the moment

Phin_Irish

One year GIC - market is nonsense now

JeanChretieninSpirit

My litmus test is can I do better than 15% yoy return, otherwise better off leaving in a GIC.