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How to invest in TSFA

2K views 6 replies 6 participants last post by  My Own Advisor 
#1 ·
Hi everyone,

I had a TSFA for almost 5 years now, and have always been cautious about risk. For this reason, I invested only in GICs but hardly made any money during all those years. I still want to protect my principal but eager to know if you have any ideas for me about other guaranteed investment vehicles that carries zero risk to my principal and still makes me "some" money?

Thank you,
Moneywise
 
#2 · (Edited)
Hi everyone,

I had a TSFA for almost 5 years now, and have always been cautious about risk. For this reason, I invested only in GICs but hardly made any money during all those years. I still want to protect my principal but eager to know if you have any ideas for me about other guaranteed investment vehicles that carries zero risk to my principal and still makes me "some" money? Thank you, Moneywise
I'm not sure what rate you've been getting, but your criteria (I've highlighted) make it difficult to suggest anything but savings or GIC investments. Some people move their money around trying to get the best guaranteed rates (I don't).
Look at this link and see how the rates you've been getting compare:
HISA:https://www.highinterestsavings.ca/chart/
GIC's:https://www.ratehub.ca/gics/best-gic-rates

None of the rates I see will make you any money in real terms (after inflation). To get better returns you need to be willing to take some risk of volatility, and some risk of loss (if you find yourself unable to stay invested during periods of volatility).
 
#3 ·
Things.came together for me when I realized I could save enough money for retirement in my lifetime. That was some time ago.

Once I knew I had to take on some risk, I began studying risk and considering it from every angle I could think of. That was the 1980s.

Once you take some risk and get some gain under your belt, it should become more comfortable
 
#6 ·
^ Resonate with all above posts. Perhaps take baby steps to more risks for more rewards. A rule of thumb(?) the younger you are (and/or have more assets), the more risk you can take.
 
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