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Motive leading the pack now for 1 through 5 yr GIC's
May 16, 2022
6:29 am
GR
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GIC rates increasing today.

Motive Financial $1,000 3.4000 3.9500 4.1000 4.1500 4.1500

source: Cannex

(Reminder that Motive pays monthly interest at same rate as annual for ages 57+.)

May 16, 2022
7:07 am
savemoresaveoften
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GR said
GIC rates increasing today.

Motive Financial $1,000 3.4000 3.9500 4.1000 4.1500 4.1500

source: Cannex

(Reminder that Motive pays monthly interest at same rate as annual for ages 57+.)  

Thanks for the alert. I opened a new one last week at 3.25%. Called them and they broke it for me (cost me 6 days of interest) but book a new one for me at 3.4%. Net Net better off 🙂

May 16, 2022
9:43 am
Dean
Valhalla Mountains, British Columbia
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.
An FI game of 'Leapfrog' is going on now. Who's going to be on top, next ❓

It's interesting to watch, and those top five 2yr rates are Very compelling (just shy of 4%). But I'm still going stay Short (for now), as more increases are sure to come in the near future.

A savers 'Paradise' is unfolding sf-smile

    Dean

sf-cool " Live Long And Prosper " sf-cool

May 16, 2022
11:13 am
Loonie
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it won't be a paradise in my books until the rate of return exceeds the rate of inflation.

May 16, 2022
11:19 am
savemoresaveoften
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Loonie said
it won't be a paradise in my books until the rate of return exceeds the rate of inflation.  

Unfortunately that's a dream and will remain a dream (in terms of GIC rates > inflation).
GIC rates were only able to beat inflation up until last year only cuz the way they measure CPI is just so out of whack and not reflect reality.

May 16, 2022
1:15 pm
Dean
Valhalla Mountains, British Columbia
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Loonie said

it won't be a paradise in my books until the rate of return exceeds the
rate of 'Inflation'.  

You just Had to mention that Dirty word. What is it now ... somewhere
around 7% ❓

Seems like the harder we paddle, the further behind we get. sf-confused

    Dean

sf-cool " Live Long And Prosper " sf-cool

May 16, 2022
2:05 pm
Loonie
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In the immortal words of Joni Mitchell...

"Don't it always seem to go
That you don't know what you got 'til it's gone
They paved Paradise and put up a parking lot"

(from Big Yellow Taxi)

May 16, 2022
2:18 pm
COIN
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Dean said
Seems like the harder we paddle, the further behind we get. sf-confused

    Dean

  

Wait till they hit you with the "wealth" tax and death duties.

May 16, 2022
8:44 pm
Dean
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Loonie said
In the immortal words of Joni Mitchell...

"Don't it always seem to go
That you don't know what you got 'til it's gone
They paved Paradise and put up a parking lot"

(from Big Yellow Taxi)  

.
That goes back Over fifty (50) years ago . . .
.

.

Joni's one of my longtime Faves sf-smile

    Dean

sf-cool " Live Long And Prosper " sf-cool

May 17, 2022
10:53 pm
RetirEd
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Seriously, how many among us are in the target zone of any wealth tax in Canada?
RetirEd

May 18, 2022
6:46 am
COIN
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RetirEd said
Seriously, how many among us are in the target zone of any wealth tax in Canada?
RetirEd  

Or, aspire to be wealthy? LOL!

Question: When will the rate increases max out?

May 18, 2022
2:11 pm
turquoise
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COIN said

Or, aspire to be wealthy? LOL!

Question: When will the rate increases max out?  

People define wealth differently. Personally, my definition of being wealthy is having the freedom not to think (at least too much) about money. I am always floored when I come across people with a high net worth who are as obsessed about money now -- if not more -- than they were back when they didn't have much money. Their anxiety and aggravation has just changed channels.

I particularly love folks who threaten to leave the country to reduce their tax burden. I don't mean move assets offshore -- I mean relocate. I've encountered many of those people in my overseas trips, and all it it is expat Canadians whining about Canada. Like, they left Canada, but they never really left. And you can sense that there is a deep regret and sadness in them for leaving, and they compensate for this by talking over and over and over again about how smart they were to leave in the first place. It's like ALL they talk about....like an ex-wife that they're still in love with. All trauma is sad, but the self-inflicted variety is literary.

BUT TO ANSWER YOUR QUESTION

My guess is that they stop at 3%.

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