I got a credit card limit increase offer today in the mail...

[DKG]

He did say his mother passed away so maybe he is 2asting his inheritance?

I think that is the second or third time his mother passed away over the past decade.

[DKG]

If you're buying a GIC or bond in a tax-sheltered account, the tax implications do not matter. Interest income in a registered retirement savings plan (RRSP) or tax-free savings account (TFSA) is tax-free, although RRSP withdrawals are eventually taxable.

If you are considering a GIC in a taxable account like a personal non-registered account or a corporate investment account, tax is a factor.

Here in Ontario, an investor with $100,000 of income earns a dollar of interest income, they pay a marginal tax rate on that dollar of about 31%. So, buying a 6% GIC leaves only about 4.1% after tax.

If that same investor bought Canadian stocks and earned a 6% return with 2% from dividends and 4% from capital gains, selling after a year, the tax would be less. The tax rate on the dividend income would be about 9% and on the capital gain would be about 16%. The after-tax return would be about 5.2%, over 1% higher than the GIC investor earning the same 6%.

Depending on the dollar value of the GIC or stock, the income could push the investor into a higher tax bracket than the marginal rates referenced above, but the outcome would be similar, with stocks being more tax efficient. The tax savings for stocks over GICs would also apply in other provinces.

As a result, a stock investor could earn a lower rate of return than a GIC investor in a taxable account and still keep more of their after-tax return. Stocks generally return more than GICs or bonds over the long run, despite the year to year volatility. This is an important consideration for a GIC investor when tax is considered. After all, it is your after-tax return that really matters.

[Brent]

Tell your boyfriend that GIC rates have dropped and will drop further in 2024. Pretending he has fifty grand to invest, in something that will not be a good investment is stupid. Tell your boyfriend to do some homework before he makes shit up.

He didn't think through his latest look at me, I am an attention starved liar story.

[Thiel]

Tell your boyfriend that GIC rates have dropped and will drop further in 2024. Pretending he has fifty grand to invest, in something that will not be a good investment is stupid. Tell your boyfriend to do some homework before he makes shit up.

This is why I earn and handle the money in our relationship, not Jo Jo.

[Shen Li]

If you're buying a GIC or bond in a tax-sheltered account, the tax implications do not matter. Interest income in a registered retirement savings plan (RRSP) or tax-free savings account (TFSA) is tax-free, although RRSP withdrawals are eventually taxable.

If you are considering a GIC in a taxable account like a personal non-registered account or a corporate investment account, tax is a factor.

Here in Ontario, an investor with $100,000 of income earns a dollar of interest income, they pay a marginal tax rate on that dollar of about 31%. So, buying a 6% GIC leaves only about 4.1% after tax.

If that same investor bought Canadian stocks and earned a 6% return with 2% from dividends and 4% from capital gains, selling after a year, the tax would be less. The tax rate on the dividend income would be about 9% and on the capital gain would be about 16%. The after-tax return would be about 5.2%, over 1% higher than the GIC investor earning the same 6%.

Depending on the dollar value of the GIC or stock, the income could push the investor into a higher tax bracket than the marginal rates referenced above, but the outcome would be similar, with stocks being more tax efficient. The tax savings for stocks over GICs would also apply in other provinces.

As a result, a stock investor could earn a lower rate of return than a GIC investor in a taxable account and still keep more of their after-tax return. Stocks generally return more than GICs or bonds over the long run, despite the year to year volatility. This is an important consideration for a GIC investor when tax is considered. After all, it is your after-tax return that really matters.

You should only have GIC's in your TFSA. Until early November, Scotiabank was offering a 5 year, 5.4% GIC.

They also had another one that was market based. It guaranteed a minimum 15% and could go up to 55% over a 5 year term.