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

November 20, 2009
8:21 pm
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!

November 21, 2009
12:35 am
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.

November 21, 2009
12:54 am
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.

The day you become free is the day you work for fun.

November 23, 2009
3:13 pm
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

November 25, 2009
4:00 pm
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!

November 26, 2009
3:36 pm
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.

November 27, 2009
7:43 pm
041sapper
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Yes, it is an RSP product. Thanks!

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