# What to do with money while saving for a house



## emperor (Jul 24, 2011)

I know I posted this almost 2 years ago but I wanted to see if there is any updated information. 

Long story short, within the next 4 years I want to buy a house. I have 25K in RRSP 1.4% 26K is TFSA 1.4% and 140K in HISA 1.2%. I didn't want to tie up my money or risk losing it since I might need it at any time. My plan was to move a lot of it over to Canadian Direct Financial for the 1.90% HISA but before I spend the time and effort doing that I thought I better check here first to see if there is a better alternative.


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## Video_Frank (Aug 2, 2013)

I have my cash parked at People's Trust. It was at 1.9% but is now at 1.8%. Your HISA sounds pretty good.


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## emperor (Jul 24, 2011)

Just tried to sign up and remembered why I don't get these accounts, my address is a PO box number and they won't accept that. They need a street address and proof of residence there.


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## none (Jan 15, 2013)

I disagree with a lot of people on this. Most people think that if you don't have a 5-10 year+ horizon then you shouldn't invest instock due to volatility. Risk has rewards but can also burn you. If you invest in something risker (I'm only talking about some commodity exposure) then it simply means you have more variability when you will buy a house. Intead of buying a house in 4 years invested as you said then it'll be 3-5 - it could go either way. 

Hind site is a ***** but if you HAD invested in the last two years you'd be 40K farther ahead (give or take). Of course if you jump in now it may go the other way - you never know.


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## emperor (Jul 24, 2011)

I've had a little luck investing in collectables. Coins, comics, etc. As far as stocks, commodities, currency exchange and business ventures go I've lost tens of thousands and never made a cent. 

I've had too many things blow up in my face to hope for the best, I bet that even houses will drop in value within 4 years of me buying but I've waited 10 years to own a place. I can't out wait the borrowers driving up the price of everything because of low interest rates.

I want to get to a place where I have a renter living with me so my monthly bills are very low. Once I know I have that to fall back on I will take some gambles.

I was hoping maybe there was a cash-able market linked GIC. Something where people use my money in the stock market and I get a % of the profit but my principle is protected and I can cash out at any time.


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## sprocket1200 (Aug 21, 2009)

Wow

Time to read wealthy barber....



emperor said:


> I've had a little luck investing in collectables. Coins, comics, etc. As far as stocks, commodities, currency exchange and business ventures go I've lost tens of thousands and never made a cent.
> 
> I've had too many things blow up in my face to hope for the best, I bet that even houses will drop in value within 4 years of me buying but I've waited 10 years to own a place. I can't out wait the borrowers driving up the price of everything because of low interest rates.
> 
> ...


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## NotMe (Jan 10, 2011)

emperor said:


> I've had a little luck investing in collectables. Coins, comics, etc. As far as stocks, commodities, currency exchange and business ventures go I've lost tens of thousands and never made a cent.
> 
> I've had too many things blow up in my face to hope for the best, I bet that even houses will drop in value within 4 years of me buying but I've waited 10 years to own a place. I can't out wait the borrowers driving up the price of everything because of low interest rates.
> 
> ...


You know that it's interesting that you say you've lost money on every business venture you've gone into, but then say you want to get a place with a renter. You do realize that being a landlord is a business venture, yes?


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## MoreMiles (Apr 20, 2011)

Personally, I would not live with a stranger in my basement. What if that person turns out to be a weirdo, tracking everything I do? My dorm days are over. I want a place truly to myself and my family.

But then everyone's standard is different. You may be fine with it.


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## none (Jan 15, 2013)

emperor said:


> I was hoping maybe there was a cash-able market linked GIC. Something where people use my money in the stock market and I get a % of the profit but my principle is protected and I can cash out at any time.


So you want high return with zero risk? Yeah, that's called a savings account and pays about 1.5%


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## emperor (Jul 24, 2011)

Ya that's what I thought. Just wanted to make sure before I spent my time shuffling things around.


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