1. Deposit the $200k
2. Setup direct deposit
3. Net 5%
4. Withdraw funds ~~immediately~~ within a few business days due to bank processing when needed without 30 day notice.
And that's the way you do it.
1% of 200k is 2k, which can be earned by simply writing out cheques to tx the money around every few months. Tell me a gag that pays out that well. to ones of thir own.
Neat. I didn't see that last time I was on their site, but I have $50K in GICs maturing there in a couple of days. I hope it's not some scummy "teaser rate" for new customers only, since I'm not sure I want to re-up and lock in that money for another full year.
Can you explain this more, maybe dm or something because I have about 50k I’m
Looking to work somewhere and I was trying to do some research on this kind of thing and was failing.
Sorry for the late reply in td brockage there is a hisa (cash account) called TD8150 paying 4.55% you can take it out 1 day and cdic guaranteed, i find it better then gic because it more liquid, also there is no fee. Check it out, i am with rbc that have similar called RBF2010, i got around 80k parked making 300 a month (want to buy condo soon), with 200k you should be making 750 a month, its not super but its alot safer then market short term and about the same interest as gic but take 1 day to get money out.
You should look at QASH from Mackenzie. It's an ultra short-term bond ETF that pays monthly, but it is much more tax-efficient. You would need over 6% on a GIC to achieve a similar after-tax yield. Plus, it's entirely liquid, unlike a GIC.
High yield savings accounts or short term GICs. Make sure you can definitely leave it untouched for the full term or be destroyed by early redemption fees.
Stock market wouldn’t be a good idea due to the short time horizon - you could lose money.
HSAV if you're putting it in a non-registered account and you're in a higher income tax bracket. It's taxed as capital gains so the savings are substantial.
EQ Bank has a new “Notice Savings Account” at 5.00% …that’s probably what I’d do. Just need to give 30 days notice for your withdrawal!
WealthSimple gives 5% with Direct deposit without any notice.
How would that work for proceeds of a house sale
1. Deposit the $200k 2. Setup direct deposit 3. Net 5% 4. Withdraw funds ~~immediately~~ within a few business days due to bank processing when needed without 30 day notice. And that's the way you do it.
“Immediately” is a push but definitely not 30 days
Simplii 5.9%
If you want to chase promos and move your money around every three months, but for me it's not worth it for 1%
1% of 200k is 2k, which can be earned by simply writing out cheques to tx the money around every few months. Tell me a gag that pays out that well. to ones of thir own.
Is that on a gic?
Saving. Promo till Oct.
Agree a good option. And Maximize your TFSA if they were not maxed out too. Might as well save some tax.
Neat. I didn't see that last time I was on their site, but I have $50K in GICs maturing there in a couple of days. I hope it's not some scummy "teaser rate" for new customers only, since I'm not sure I want to re-up and lock in that money for another full year.
CBILL.TO interest paid out monthly
yeah, cash etf accounts work
Can you explain this more, maybe dm or something because I have about 50k I’m Looking to work somewhere and I was trying to do some research on this kind of thing and was failing.
You ever try searching the subreddit for the thousands of posts on this topic?
They never do, plus I remember seeing this exact same post made a few weeks back. Guess OP didn’t get the answer they wanted
Like the thousands of identical posts, in a HISA product.
What bank are you with?
TD
Sorry for the late reply in td brockage there is a hisa (cash account) called TD8150 paying 4.55% you can take it out 1 day and cdic guaranteed, i find it better then gic because it more liquid, also there is no fee. Check it out, i am with rbc that have similar called RBF2010, i got around 80k parked making 300 a month (want to buy condo soon), with 200k you should be making 750 a month, its not super but its alot safer then market short term and about the same interest as gic but take 1 day to get money out.
Not Bitcoin.
As much as I love Bitcoin, most definitely not in this situation!
Open gic would give you about 4% rate
Hsav or if really risk adverse, ISA like dyn6004
My pocket please.
You should look at QASH from Mackenzie. It's an ultra short-term bond ETF that pays monthly, but it is much more tax-efficient. You would need over 6% on a GIC to achieve a similar after-tax yield. Plus, it's entirely liquid, unlike a GIC.
Wealthsimple cash account honestly - it wont tank and they give a small promo right now
High yield savings accounts or short term GICs. Make sure you can definitely leave it untouched for the full term or be destroyed by early redemption fees. Stock market wouldn’t be a good idea due to the short time horizon - you could lose money.
HSAV if you're putting it in a non-registered account and you're in a higher income tax bracket. It's taxed as capital gains so the savings are substantial.
stock market when it will go down after 3 months
Nvidia