3
GIC Strategy (lemmy.ca)

Hi all, I'm new to investing (just turned 18 this year).

I work a full time job and want to start saving and growing my money.

My current portfolio consists of a variety of sources, including GICs, managed ETFs, and cryptocurrency. For ETFs and crypto, I deposit a portion of my paycheque into the respective exchanges as part of a dollar cost averaging strategy. But for GICs, I'm a little confused.

I have one GIC already for a 13 month term, but I'm not sure of the optimal contribution strategy. Should I be buying a new GIC each month with a portion of my paycheque, or maybe accumulate funds annually and then put them into new GICs?

you are viewing a single comment's thread
view the rest of the comments
[-] otp@sh.itjust.works 1 points 2 weeks ago

No interest in chasing promos? They are regularly 5% or more on new deposits

this post was submitted on 30 Aug 2024
3 points (80.0% liked)

Personal Finance Canada

1167 readers
1 users here now

Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!

founded 1 year ago
MODERATORS