Investments questions

[Vanessa Valentine]

I'd like to put some money away in a Term Deposit or GIC or something along this idea. Is there a particular banking company that I should consider investing with? Ie: Td Canada Trust (my bank), PC Financial (no fee's) or ING (no fee's)?

And when I do go for an appointment to sign up, what should I say about getting the money???

V.

 

[need4greed]

I'd go with ING because they generally offer higher interest rate, which is ultimatly the most important thing.

 

[n_v]

Smooth Shiek. Just slide yourself in there.

 

[Cardinal Fang]

Vanessa, take Sheik's offer. At the very least you'll get a dinner out of it. When you get home look up an investment councilor in the yellow pages.

 

[Goober Mcfly]

A free dinner isn't worth having to spend time with Sheik.

Trust me on this one.

 

[eyeofthedragon]

instead of a term deposit consider a terb deposit

 

[The Doctor]

A free dinner isn't worth having to spend time with Sheik.

Trust me on this one.

For someone who can never find his wallet, that's a little harsh Goob...acurate, maybe but harsh none-the-less

Vanessa, don't get locked into anything. Rates will go up this year, albeit marginally and a term deposit or GIC would't really give you much in the way of return in exchange for that.

Your investment decission should be based on your eventual use for the money. If it's short-term savings then I'd suggest a money market fund from any of the banks. if it's longer term, there are other options.

 

[anselmo]

I specialize in this area. If you're interested please pm me cause I can't solicite business. LOL

 

[bornonaug9]

Depending whether it is long term or short term, I like strip bonds for short term and exchnage traded funds - Scotia Bond index for long term.

 

[train]

You might want to talk to someone who is well versed in some other things such as deposit size and anonymity etc. This may be worth more than an extra 1/4 point .

 

[Goober Mcfly]

deposit size and anonymity etc.

*chuckles*

 

[The Doctor]

Depending whether it is long term or short term, I like strip bonds for short term and exchnage traded funds - Scotia Bond index for long term.

Vanessa, this is a perfect example of why you should seek professional advice. It's possible that bornonaug9 might have his investments reversed, but strip bonds are totally inappropriate as a short term investment...they are incredibly volatile, and due to their structure, the longer your timeframe the better the potential returns.

 

[Cardinal Fang]

All of you are forgetting one thing.....

this business is a cash business and thats what she needs the help with more than anything. So unless you know how to handle it, I suggest you keep your advice to yourselves.

Fine then. See if I ever have dinner with you.

 

[prelations]

I hear what you're saying sheik about a cash business. But a GIC? or short term deposit? That's some low interest, low risk, low return.

Why not just lend it out on a year by year (optional renewal) basis on 2nd or 1st mortgages and earn 12% or more. It's renewed annually so she can get out every 12 months if she wants.

Most accountants know how to get these girls' cash working for them, as I know 2 accountants that I work with, that can get their cash out of their "home safe" and making them money without problems from the gov't.

I think they work hard for their money, why should their money not work for them? a GIC just won't cut it.

I know everyone's financial situation is different, so I'll just leave it at that, and hope that she explores all her options.

 

[mtl_guy]

Take your low GIC interest rate, factor in inflation and taxes, and your money will come close to earning a negative return.

 

[auto doctor]

After carefully looking at Miss V's personnel portfolio.............

I can say with confidence...........URrrrrrrrrrrr Babe !!!

 

[thighspy]

All dressed up and no place to Go???

Keep your Cash in a safe place.Do not trust anyone with it.The interest you get from any institution in Canada,is next to nothing,on top of this miserable state,they will invent new Fees as they go along.So the answer is " learn how to handle "Money"
do everything yourselfs.If you have Money the World is your Oyster.If you take some low interest,and pay tax on it,you are better off getting nothing,--Because now those Rippoff Artist in Ottawa know about it,and they have a long memory.You are now in trouble,because the Bankers in Canada act as Spys for
the Government.
Take care--Good luck.

Life is too short to hurry.

 

[goph]

need to know exactly how much and for how long and how much risk your willing to absorb!

 

[Vanessa Valentine]

Your investment decission should be based on your eventual use for the money. If it's short-term savings then I'd suggest a money market fund from any of the banks. if it's longer term, there are other options.

I want one of each: a long term and a short term investment option.

I don't understand your last question.."What should I say about getting the money"

please explain

Lol. Sorry. Where do I say I got the money from? Lemonade sale?

???

V.

 

[eyeofthedragon]

Id like some lemonade