# Where to Deposit $150000 in Canada to earn interest



## mshakil (Mar 2, 2014)

Hi, I have to invest $150,000 in any Canada's bank or another investment bank etc. Where should i invest these amount to get interest and how much can get interest. OR should i invest in any business etc. Any suggestion please. Thanks,


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## james4beach (Nov 15, 2012)

mshakil said:


> Hi, I have to invest $150,000 in any Canada's bank or another investment bank etc. Where should i invest these amount to get interest and how much can get interest. OR should i invest in any business etc. Any suggestion please. Thanks,


You might want to find a fee-only advisor who can offer investment advice and tell you about some of the basics. Everyone's situation is unique and different.

One question to start with: how much RISK are you willing to take?

Are you willing to risk losing money, possibly ending up with less than your original $150,000 ... or are you purely looking for investments that can increase your money without endangering the original amount? The answer to this leads to very different kinds of investments. There are some people who absolutely don't want to end up with less than what they start with. Others are OK taking that risk.

For example, if you say that you absolutely don't want to lose money or risk your original, then this means you will be dealing with savings account deposits and GICs, which have returns of approximately 1% to 2% annually.

On the other hand if you are willing to take risk of losing money, then the returns can potentially be higher, roughly around 4% to 7% annually (no guarantees at all), but also come with the possibility of losses. Investments of this type can potentially decline by large amounts and you could, for example, see half of your money disappear.

Also, what is your time horizon? How long can you leave the money invested before you have to withdraw it? The risk-taking investments (anything with higher returns) require a commitment to long time horizons such as 20 years. If there's a chance you'll need the money sooner, perhaps in a couple years or 5 years, then you really should stick to the less risky, lower-return investments.


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## MrMatt (Dec 21, 2011)

Talk to a fee only advisor.
Get a plan, any intro finance book should do it.

I know people who ended up not having enough assets for it to be worth it for them.
He spent less than half an hour, and politely suggested alternatives that fit their financial situation.


As far as what to buy, understand the risks, until you figure it out, keep it in bank accounts, high yield savings accounts.


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## Beaver101 (Nov 14, 2011)

^ If you got only $150K as total assets to invest, I would just deposit it into any "bank=physical or online" and skip the advisor altogother ... free or fee-only. OTOH, if this amount only represents 1% of your total assets, then by all means to for a fee-only advisor. Just my opinion of course.


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## Spudd (Oct 11, 2011)

The question is, do you literally only want interest? If so, EQ bank offers a decent stable interest rate (currently 1.5%).

If you actually want to invest it (with risk) then there are many more options and things to consider.


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## mshakil (Mar 2, 2014)

Spudd said:


> The question is, do you literally only want interest? If so, EQ bank offers a decent stable interest rate (currently 1.5%).
> 
> If you actually want to invest it (with risk) then there are many more options and things to consider.


Which options? Should I buy Gold bar? What options are:


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## Spudd (Oct 11, 2011)

I would not suggest to buy gold bars. That's difficult to do, it's hard to cash them in when you need money, and you have to figure out where to safely store them. 

As a beginner investor I would suggest an ETF like VBAL or VCNS. VBAL is a balanced fund that includes global stocks & bonds, with 60% stocks and 40% bonds. VCNS is more conservative, it is the same thing but with 40% stocks and 60% bonds. If you are older, VCNS is probably better, and if you are younger, VBAL would be preferred. You can buy either of these through any discount broker such as Questrade or any of the bank brokerages.


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## AltaRed (Jun 8, 2009)

I think you are all being led down the garden path..... Carry on.....


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## james4beach (Nov 15, 2012)

AltaRed said:


> I think you are all being led down the garden path..... Carry on.....


Do you think this could be spam?


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## Beaver101 (Nov 14, 2011)

^ If so, then what about this thread plus posts of the OP?

How much amount can get after Retirement at 65


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## AltaRed (Jun 8, 2009)

That is my point. Look at all the OP's posts and think about it for a minute or two.. Considerable time in Canada and doesn't have a clue about various investment options? Really?


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## mpochwat (Nov 10, 2020)

Kind of a non-traditional approach. But you could check out a few blockchain lending platforms like Nexo or Blockfi. 

By converting your cash -> USDT (Tether), you can often earn 6-8% per year interest on your cash with limited downside risk. Something to consider.


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## james4beach (Nov 15, 2012)

mpochwat said:


> Kind of a non-traditional approach. But you could check out a few blockchain lending platforms like Nexo or Blockfi.
> 
> By converting your cash -> USDT (Tether), you can often earn 6-8% per year interest on your cash with limited downside risk. Something to consider.


This is extremely speculative, using completely new technologies that have not been stress-tested and which have very little track record. There have been a huge number of scams in this space.


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## Beaver101 (Nov 14, 2011)

AltaRed said:


> That is my point. Look at all the OP's posts and think about it for a minute or two.. Considerable time in Canada and doesn't have a clue about various investment options? Really?


 ... you got a point there. But then the financial literacy (interest) of some citizens are just not there. Until the OP returns to dispute then we're only trying to help.


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