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Email this10:03 am
September 30, 2017
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Hello, world. With the raise of online banking, I think GIC can remain a relevant mean for FI to increase client base. Some FI required a HISA as co-requisite on their GICs. In a way, a new client promo offer is somewhat a short-term cashable GIC to me. But I already got so many HISAs, probably will not open new HISA alone. On the other hand, I may keep the HISA long after the GIC matured.
My bearing right now is to do a new 1-yr GIC, perhaps at a monthly pace or quarterly pace. Those who also offer monthly paid out will earn extra marks on my list 
My saver sense
10:41 am
September 30, 2017
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Disclaimer. Yes. This thread has no historical value. It can be trashed in 90 days or so 
10:59 am
October 27, 2013
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hwyc said
My bearing right now is to do a new 1-yr GIC, perhaps at a monthly pace or quarterly pace. Those who also offer monthly paid out will earn extra marks on my listMy saver sense
To get a better understanding of this plan and for us to put it into some context, are you early in your investing/saving journey, or are you nearing, or into, retirement?
11:18 am
September 11, 2013
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Good idea, hwyc, in fact I think trashing all posts over 90 days or so old would be a great idea!
11:19 am
September 30, 2017
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It's my storytelling … not yet posing a question. Thank you.
11:22 am
September 30, 2017
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Bill said
Good idea, hwyc, in fact I think trashing all posts over 90 days or so old would be a great idea!
Ok. I hear you, Bill. However, from my post to all posts would be too generalized.
11:30 am
September 11, 2013
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I'm just being irritating, hwyc, no insinuation at all that your view is near the same as mine.
11:45 am
April 14, 2021
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Bill said
Good idea, hwyc, in fact I think trashing all posts over 90 days or so old would be a great idea!
I disagree. I sometimes discover value in the old discussions, that I do not find in current threads.
12:16 pm
September 30, 2017
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Actually I see a different issue - some people are chit-chating the same stuff too much wherever & whenever, valuable information is being buried. This is not a social site, at least not why I am here. At one point, I thought there was a posting limit imposed. But I am not able to come up any reference. However, I do dig up a control called "wait time between posts" at the forum level. Without the rank of moderates, it may be a good idea to impose that on *selected* forums. That said, I did not make this comment on the Site Suggestions forum.
3:13 pm
November 18, 2017
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I would never purge old info from a useful database.
RetirEd
Just look at my boxes of financial records...
RetirEd
7:48 pm
August 17, 2010
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id love to go back and read the old posts about the fellow who was posting about getting rich living with his parents, and putting all his earned income in a HISA and all his other strange ways of making money, must have been 12 years ago, some members would remember.
7:21 am
November 8, 2021
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hwyc said
Actually I see a different issue - some people are chit-chating the same stuff too much wherever & whenever, valuable information is being buried. This is not a social site, at least not why I am here. At one point, I thought there was a posting limit imposed. But I am not able to come up any reference. However, I do dig up a control called "wait time between posts" at the forum level. Without the rank of moderates, it may be a good idea to impose that on *selected* forums. That said, I did not make this comment on the Site Suggestions forum.
It may be so. However, how about just skip threads that folks think are irrelevant, or they find are repetitive to them?
Policing a forum is not the way to go. It is incumbent on people using this great website to search a subject before posting anew, and think about the interest of other forum members to widely engage in a given conversation.
Respect for others, that all it is
9:46 am
January 12, 2019
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toto said
id love to go back and read the old posts about the fellow who was posting about getting rich living with his parents, and putting all his earned income in a HISA and all his other strange ways of making money, must have been 12 years ago, some members would remember.
Yes, some of those old threads are real Gems. And often Very Informative
... to this day ❗
I highly doubt that Peter would ever consider what some here are suggesting.
This website would be a lesser place, if the older threads were purged.
My Two Nickels,
- Dean
" Live Long, Healthy ... And Prosper! "
12:46 pm
January 12, 2019
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.
. . . P.S. (my Third Nickel )
Here's a good example of one of the first informative threads on this site. It dates back to the early days, over 13 years ago :
.
And Yes ... over the years, there are countless more.
- Dean
" Live Long, Healthy ... And Prosper! "
6:31 am
September 30, 2017
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Middle of Sept. In my view, the likelihood of 5% for 1yr or 2yr GICs by end of this month is increasing slim, except for the rare anomalies, which I won't bother to chase.
Thanks to contributors of this site, I learned that Simplii's GICs interests are monthly paid (or compounded). Looks like it can be jointly as well (by calling in to apply). I am now very fond of their 1-yr's rate.
On a different note, I am adding the TDDI ISA funds back to my toolbox within the registered accounts. For non-registered, back in 2017 TDDI sent one T5008 to CRA for every withdraw, a trail to nowhere (because there won't be any capital gain/loss).
Last but not least, following footsteps of many others, I am also shrinking my footprint at EQ ... $0 TFSA by end of year.
( My stories for your reading. Post no comments here please. )
10:17 am
September 30, 2017
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I think 2022 would be a year-to-remember for savers. One year ago, I did an 1-yr GIC at 1.80%. It finally matured. Regret it looking back ? Maybe. But it's December & the topics in the TFSA forum will soon light up like a Christmas tree. I am hoping today's rates will still be there in January.
( My blog only for your reading. Post no comments here please. )
2:20 pm
September 30, 2017
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Think I crossed the one thousand post milestone sometime this June. That seems a lot in just under 7 years. Have I got addicted to the site?
5:24 am
September 30, 2017
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A 2024 TFSA resolution made for myself.
- Contribute $5,000 to Manulife Tax-free Advantage to earn 3.40% promo until end of April
- Open TDDI new TFSA by end of March in order to earn $300 award
- Transfer $5,000 from Manulife for free by end of April
- Invest $5,000 in ISA-US$ to earn 4.90%
- Maintain asset in TDDI until end of June
- Collect $300 award by end of August
Post no comments to my stories here please.
3:12 pm
September 30, 2017
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Norbert's Gambit DIY
With such a gap between US/CAN interest rates, savers like myself is looking for roadway southbound. If the amount is over $1,000, the Norbert's Gambit may yield a better value.
The maneuver can be self-directed at TDDI . I already has dash J (CAD)/dash K (USD) pair under my TFSA account and the end game is to have ~5,000 USD in my dash K
- To begin, I bid for 495 units of DLR at C$14 in dash J. But by end of day, the order was only partially filled. I only got 400 units, paying CAD(5,600 +9.99).
- Thanks to T+1, I can transfer the DLR units as soon as next day, from dash J to dash K myself.
- Once these units are listed in dash K, I sold them using the symbol DLR.U instead, at U$10.21 & receiving USD(4,084 -9.99)
Effectively the rate is 0.7262 (vs 0.7276[C$/U$] BoC JN17 rate) 1.3743[U$/C$]
Around the same time, TDDI cash transfer for $1,000 is 1 USD = 1.3907 CAD
DLR = GLB X US DOLL CURR-A ETF
DLR.U = GLOBAL X U.S. DOLLAR CURRENCY ETF $USD
Post no comments to my stories here please.
9:33 am
September 30, 2017
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A strong case for dividend income
- interest rate trending down
- stock price also trending down
- tax credits on dividend income
Assuming I make $5,000 x 12 months interest income from bank accounts in 2024. Punching the numbers into my StudioTax, I would have to pay $6,872 (fed tax) + $3,354 (Ontario tax) = $10,226 in total
However, if I make $60,000 eligible dividend income from holding shares, I end up paying $0 fed tax and $0 Ontario tax! (still need to pay $750 Ontario health premium)
I knew about these tax credits for a long time. It is still quick shocking to see the comparison side by side.
Post no comments to my stories here please 🙁
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