Saving for down payment in roughly 5 years

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AltaRed
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Re: Saving for down payment in roughly 5 years

Post by AltaRed »

I agree that GICs at 2.5% plus are likely the best bet for the 'preservation of capital' approach.

No dividend stock is 'safe', even one like Emera. It could have gone off the rails in 5 years for any number of reasons, ranging from a terrible acquisition, to unexpected high debt servicing costs from high interest rates, to a business interruption calamity such as multiple people killed from a facility disaster, to....pick one. IOW, EMA could be a $20 stock in 5 years with a 0% dividend yield. Nothing is for sure.

If the OP is going to gamble on dividend stocks, at least diversify the risk with some kind of income ETF.
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LAJ
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Re: Saving for down payment in roughly 5 years

Post by LAJ »

Would some thought to using RRSPs and the HBP be a consideration in this situation?
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