January 12, 2010
Why does anyone use the GIC in the TFSA? Guaranteed Insufficient Capital investments lick. Invest in stocks like BMO, BNS, CIBC, RBC, TDCT and SEE the advantage really work. Or, you can actually get some nice high yielding income stocks and take advantage of the TFSA. The 2-3% GIC's don't make any sense since the same bank stocks you are giving your money to are yielding a nice 4-5% dividend. Banks don't go bankrupt in Canada, you people should know that by now. Invest smarter & live better! Just my 2.5 cents...
BTW I put my $5k in last year into a nice income trust stock and it's worth over $7,400. Another friend bought some TD bank and almost doubled his investment. Why let the real bank crooks (RBC) make all the money? Get wise people!