what to do with $600,000.00 cdn $

[TD781]

I recently sold my house and I will be getting $600,000.00. I want a secure place to put it in as I ultimately wish to purchase multi res, I have looked into a step up GIC it will give the flexibility to take out the money anytime after an initial 30days for up to 100 days the rate is 1.25% -i was hoping to find something with a better return. I anticipate the finding the right apt building will take up to a year or so. Each bank will secure up to $100,000.00 if placed in a saving/checking or GIC account.

I would appreciate any suggestions.
ThanksTD781

[Four Pillars]

Funny you should ask...

http://www.theglobeandmail.com/globe...rticle2447832/

[v_tofu]

Johnny Walker and strippers.

You only live once.

[KaeJS]

Johnny Walker and strippers.

You only live once.

+ a fast car.

... you only live once.

Just don't combine them all at the same time.

In all seriousness, I know the rates are low, but I would just go with a GIC since you have plans for the funds, anyway. At least you know it's safe this way.

[donald]

You guys forget the cocaine lol

[Eder]

I sold my house recently. The money is in a bunch of HISA's. I get at most like 1.8% but that is better than my portfolio has done lately lol.

[smihaila]

Move to Europe and buy a House with "capital H" there, solid concrete+brick+mortar stuff, not these "wooden barracks" jokes from North-America...
Something which you will be able to pass to the next generations...Also with low property taxes, not this rip-off that takes place in Canada...I just received my property tax bill for the last 2 payment schedules and these crooks have increased it by 5%...Tell me, who can offer us a 5% guaranteed return for our investments?

I am wondering - why the heck I've bought my 1st house here in Canada, about a few months ago!? I should have remained renter...Getting sick of these Crooks, skinning us to death of all our money.

[marina628]

I sold a big asset 4 months ago and have similar amount.I stuck to 100 day GIC and got 1.5% from my bank ,not the best but had I bought stocks as I was thinking i would be -3% today.