$150K CDIC Insurance ? | Page 6 | General financial discussion | Discussion forum

I am with posts 96 and 98. Because my retirement expenses are covered by the GIC's interest payments and the government handouts, I consider GICs a blessing.

I kind of laugh when an agent at a FI is trying to convince me into very secure equity "higher yields" and I did actually use this wording: " When the investment you are suggesting for me (without knowing your client) is so secure as you are telling it is, I will invest my money with you, but, as a security, I want it covered by your family house equity. Which should not be a problem, because, as you say, it is "secure" and in a long run, I will make money. And I will THE gains with you. Let's write up an agreement. Remember, in a long run, we both make money!"

The representative always shuts up.

Another approach to stop the endless tirade of their equity offers, which I use when I am calling for the rates (always call the FIs as you get "special rate this time") and they would not stop pushing: "If you, Mr(s). X, were shopping for a horse riding helmet for you child and the store kept pushing a football helmet, would you buy their offer? Get enlightened by their explanations? Would you say - Oh, I see the wisdom in your reasoning, (and although my child is a mosquito weight), and thus I want the hockey helmet."

The representative always shuts up.

...not if you want them to offer you a rate upgrade or other special deal!

SO MUCH pontification here.... as if it matters much. It is not like anyone can really do anything about it.

Dean said

smayer97 said

SO MUCH pontification here.... as if it matters much. It is not like anyone can really do anything about it.

Meh❗

You had your chance ➡️ https://www.canada.ca/en/department-finance/news/2025/07/government-launches-consultations-as-part-of-deposit-insurance-framework-review.html ... but it's Too Late Now❗

Dean

  

Exactly.