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Allocations to the 5 Majors.
December 16, 2009
12:47 am

As a result of a recent death in family I have an amount of money to put away a the best interest available at the major banks including ING and PC but not those limited to the northern tip of Vancouver island or the malarial swamps of Winnipeg. Any suggestions on how to allocate the cash and stay under the CDIC $100 000?

December 16, 2009
2:52 pm

You could try putting some of it in the 5 year HSBC "Great Rate GIC" (currently 3.7%) and some of it in the 2% Ally Savings Account. INGs rates are too low these days.

Also, if you have room to do so, put $10,000 of the cash in a Tax Free Savings Account version of the above two options since the TFSA limit for 2010 will be $10,000 per person.

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