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Discussion forum General comparisons Where do I put 50k? Short term options….thanks

Where do I put 50k? Short term options….thanks  
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5:10 pm
November 20, 2009


Donald

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Does any1 know of any good short term places to lock your money? (GIC, bond,etc)…I have 50k that I can put away until October 2010. Please advise the best/option to store this money.

Thanks in advance for all your help everyone!

8:21 pm
November 20, 2009


Calvin

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If you have a brokerage account, I suggest you buy a short term bond ETF such as XSB from iShares (Barclays). (Disclosure: I own a few shares). There is also a claymore product but the iShare product is more liquid. Over the last 10 years the difference in price (highest to lowest) has been about a dollar fifty ($1.50). The quarterly interest will more than make up for that fluctuation. Good luck!

12:35 am
November 21, 2009


Hornswoggler

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If you need to keep the money safe, i suggest a high interest savings account that's backed by CDIC.

If you are willing to take more risks, I'd go with the ETF stuff.

If you a gambling man, I suggest shorting the stock market.

And if you want to blow it all, I suggest topless bars and booze.

Choice is yours.

12:54 am
November 21, 2009


Max

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Hornswoggler said:

And if you want to blow it all, I suggest topless bars and booze.

Lol, that made me laugh.

My mattress is far more comfy with all my money under it.

3:13 pm
November 23, 2009


Donald

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thanks for all your help everyone,

Hornswoggler if I don't lock the money away it's gonna go to topless bars and booze…lol

4:00 pm
November 25, 2009


041sapper

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Hi all!

I'm new to the site and need some suggestions about putting $65k away in RSP. I think my safest bet is a RSP GIC? and i know that ING has a 5 year term for 3.25%. Has anyone found anything better?

Sorry for hijacking your thread!

3:36 pm
November 26, 2009


Prag

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HSBCs "Great Rate GIC" is currently 3.7% for a 5 year term, so you can do a lot better than INGs 3.25%, assuming it can be purchased as an RRSP. There might be other places with even better rates so be sure to look around and also read the fine print.

7:43 pm
November 27, 2009


041sapper

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Yes, it is an RSP product. Thanks!
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