Where to park money short-term?

Saving strategies, maximizing interest rates, budgeting, GICs, HISAs.
Webber22
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Re: Where to park money short-term?

Post by Webber22 » 18 May 2010 09:50

ATL5000 shows a yield of 0% at TDW ??
MIP510 .70%
DYN500 .65%

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Re: Where to park money short-term?

Post by bwalter » 18 May 2010 14:29

Webber22 wrote:ATL5000 shows a yield of 0% at TDW ??
MIP510 .70%
DYN500 .65%
ATL5000 yeild can be found here: http://www.renaissanceinvestments.ca/en ... s/hisa.asp

When optionable68 posted yesterday it was still showing .70% but now it has indeed been increased to .80%. I'm glad I held off questioning his post, instead I assumed he knew something that I didn't know.

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Re: Where to park money short-term?

Post by optionable68 » 18 May 2010 17:59

bwalter wrote:
Webber22 wrote:ATL5000 shows a yield of 0% at TDW ??
MIP510 .70%
DYN500 .65%
ATL5000 yeild can be found here: http://www.renaissanceinvestments.ca/en ... s/hisa.asp

When optionable68 posted yesterday it was still showing .70% but now it has indeed been increased to .80%. I'm glad I held off questioning his post, instead I assumed he knew something that I didn't know.
I had the inside scoop ;)
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Re: Where to park money short-term?

Post by fundamental » 24 May 2010 10:54

Looks like the other firms offering HISAs may be coming around to be competitive.

DYN500 just raised rates to 0.75%

But still not as good as Renaissance ATL5000 which was raised to 0.80% as per optionable68's notice above.
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Re: Where to park money short-term?

Post by IdOp » 24 May 2010 11:48

fundamental wrote:Looks like the other firms offering HISAs may be coming around to be competitive.
Good stuff! Manulife's MIP510 has been raised, to 0.80 %, too.

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optionable68
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Re: Where to park money short-term?

Post by optionable68 » 25 May 2010 18:35

RBC and Altamira (National Bank) also raised.... but Renaissance is still #1
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Re: Where to park money short-term?

Post by bwalter » 02 Jun 2010 00:06

BTB100 is now paying 0.80% as well.

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Re: Where to park money short-term?

Post by Springbok » 14 Jun 2010 10:40

For a good return over 4.5 months, do you think PIC.PR.A would be a good safe place to invest? See details in this post:

viewtopic.php?p=387134#p387134
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Re: Where to park money short-term?

Post by optionable68 » 14 Jun 2010 18:38

Altamira now paying 0.80% too
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Re: Where to park money short-term?

Post by drejmd » 13 Aug 2010 15:44

If you were "parking" money that you planned to spend on a down-payment for a house, is there any logic in putting it in XRE. Would XRE fluctauate with real-estate prices and in the meantime provide a yield that is much better than any GIC or HISA?
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Re: Where to park money short-term?

Post by BRIAN5000 » 13 Aug 2010 16:04

CCS HISA 1.2%
BNS Power savings 1.15%
TD HISA 1.1 %

Needed approval above branch level on $250,000 do a definite maybe below
3 mths at BNS 1.65
6 mths at BNS 1.69
9 mths at BNS 1.74
1YR 1.94%
2yr 2.55%

Anyone seen any 1 % deals out there?

Updated more short term interest rates
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Re: Where to park money short-term?

Post by Lazy Ninja » 13 Aug 2010 16:43

drejmd wrote:If you were "parking" money that you planned to spend on a down-payment for a house, is there any logic in putting it in XRE. Would XRE fluctauate with real-estate prices and in the meantime provide a yield that is much better than any GIC or HISA?
I would say the short answer is that the correlation is far too weak to make that anything other than a considerably risky strategy. This thread might be worth a look:

viewtopic.php?f=4&t=106886&hilit=REITs
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Re: Where to park money short-term?

Post by drejmd » 13 Aug 2010 18:26

Lazy Ninja wrote:
drejmd wrote:If you were "parking" money that you planned to spend on a down-payment for a house, is there any logic in putting it in XRE. Would XRE fluctauate with real-estate prices and in the meantime provide a yield that is much better than any GIC or HISA?
I would say the short answer is that the correlation is far too weak to make that anything other than a considerably risky strategy. This thread might be worth a look:

viewtopic.php?f=4&t=106886&hilit=REITs
Thanks, good thread. Personally I am going to go with Adrian and Altared on this one. (ie. REITS donot equal HOUSES)
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Re: Where to park money short-term?

Post by Park » 13 Aug 2010 21:12

Peoples Trust is offering 2.1% interest on its savings account. I find it a little more laborious than the usual bank accounts, but I feel well compensated for my time.

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Re: Dividend stock strategies

Post by SQRT » 05 Mar 2013 10:07

Why wouldn't you at least keep your cash in a HIS? You can transfer to your chequing account whenever you need to. At least you would earn 1-2% which is better than nothing?

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Re: Dividend stock strategies

Post by Shakespeare » 05 Mar 2013 10:43

I usually pay bills twice a month so I shift enough money from the HISA each time with enough extra for weekly cash withdrawals.
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Re: Dividend stock strategies

Post by like_to_retire » 05 Mar 2013 10:46

Shakespeare wrote:for weekly cash withdrawals
What do you use cash for on a weekly basis? I think I have the same $100 in my wallet I had a couple months ago. Are you one of those people holding me up in the grocery checkout taking pennies out of change purse? :wink:

ltr

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Re: Dividend stock strategies

Post by Shakespeare » 05 Mar 2013 10:52

I eat out daily for lunch and pay cash. I know it's more expensive but, living alone, it's a way to get out of the house.

Steak is usually several times a week. :thumbsup:
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Re: Dividend stock strategies

Post by Springbok » 05 Mar 2013 10:56

AltaRed wrote:The latter point I agree with completely. But I never keep more cash than I need in my chequing account in any given month, even though my chequing account also pays minimal interest. I simply move cash from my HISA at the end, or beginning, of each month to my chequing account.
We have no HISA and minimal cash in chequing accounts. In our unregistered accounts, dividends are not usually reinvested. We do a monthly transfer to our chequing account to cover expenses. We also have about $50k in a monthly income fund (in unregistered a/c) which we use more or less same as some use HISA. It is more tax efficient than an HISA although susceptible to ups and downs of markets. We have enough other cash flow, so seldom sell units.

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Re: Where to park money short-term?

Post by rbradshaw » 01 Jul 2013 23:20

If I used my RBC direct investing to invest in other banks investment savings accounts (such as dyn500) would the 100k cdic fall under RBC or Dundee?

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Re: Where to park money short-term?

Post by Shakespeare » 01 Jul 2013 23:24

You can't use RBCDI for anything other than RBC HISAs like RBF 2010, 2020, 2030, and 2040. Each would be considered separately for CDIC limits.

High-Interest Savings Accounts - finiki, the Canadian financial Wiki
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Re: Where to park money short-term?

Post by CDIC communications » 03 Jul 2013 12:27

Just to clarify, fund-based Canadian dollar investment savings accounts are CDIC insured, however those from the same corporate entity would be combined for insurance purposes.

Doug Watt
CDIC communications

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Re: Where to park money short-term?

Post by Peculiar_Investor » 03 Jul 2013 13:16

Doug, welcome to FWF and thank you very much for the clarification.
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Re: Where to park money short-term?

Post by like_to_retire » 03 Jul 2013 14:36

The finiki says: Several issuers offer similar funds from different corporate entities so that each fund has separate CDIC insurance.

Shakespeare's post says: You can't use RBCDI for anything other than RBC HISAs like RBF 2010, 2020, 2030, and 2040. Each would be considered separately for CDIC limits.

Doug Watt from CDIC communications says: Just to clarify, fund-based Canadian dollar investment savings accounts are CDIC insured, however those from the same corporate entity would be combined for insurance purposes.

I wonder if we should add to the finiki to make this clear. I had always wondered about this.

ltr

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Re: Where to park money short-term?

Post by BRIAN5000 » 03 Jul 2013 14:45

You can't use RBCDI for anything other than RBC HISAs like RBF 2010, 2020, 2030, and 2040. Each would be considered separately for CDIC limits.
Except if RBCDI itself goes belly-up then there is no CDIC insurance.
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little bit longer and wish you would’ve sold early - this is just part of the game.” - Frank Zorilla via Abnormal Returns

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