Are GICs a good investment right now?
You can start investing in GICs with as little as $500. In this GIC guide for Canadians, we’ll show you how these versatile investments can help you preserve your purchasing power in the face of high inflation, without risk to your savings.
How do GICs work?
A GIC is a type of investment asset. Buying a GIC is like making a loan to a bank (or another financial institution) for a set amount of time—from as little as 30 days to as long as 10 years—at an agreed-upon interest rate.
- How GIC interest rates work: Canada’s rising interest rates have one major upside: higher returns on GICs. Find out what affects their rates and how to buy a GIC.
The length of time is called the “term,” and the interest is paid to you annually, semi-annually or at the end of the term, depending on the GIC you buy. The last day of the term is the GIC’s “maturity date.” At that point, you’ll get your principal back, along with any remaining interest. Most GICs are “non-redeemable,” meaning you can’t cash them in early.
When buying a GIC, you can choose whether to hold it in a registered or non-registered account. In a registered account, your earnings will be tax-sheltered or tax-free, depending on the type of account.
Buying GICs can be convenient—Canada’s banks and other financial institutions all offer them. If you don’t have an investment account yet, you may need to open one to get started.
- How to buy Scotiabank GICs: Scotiabank has a wide range of GICs to fit investors’ financial goals, including short- and long-term GICs, cashable GICs, personal redeemable GICs and market-linked GICs. Read more about Scotiabank GICs.
Investing in GICs
GICs can play a role in your investment portfolio no matter what life stage you’re in. Below, we’ve rounded up a dozen articles packed with investment ideas.
Lefebvre announces new committee to help spur investment
A new committee of Greater Sudbury city council is being set up to find the “best way of streamlining and of encouraging investment in Sudbury.”
So described Mayor Paul Lefebvre, who used Thursday’s Fireside Chat event with the Northeastern Ontario Construction Association to announce the new five-member committee.
“It’s a big exercise, but I think it’s a positive way of affecting change,” he told Sudbury.com after delivering his address at Verdicchio Ristorante, adding that his goal is for the committee to present recommended changes to municipal bylaws by the end of the year.
The committee would host five to seven meetings this year to learn from local industry leaders, with priority given to those with experience working for other municipalities.
“What is going on elsewhere?” Lefebvre asked. “How are they doing things different from what’s going on here, and why is that the case, so we have a better understanding.”
Lefebvre said that with many regulations provincially mandated, he wants the committee to narrow in on what the municipality can actually accomplish.
In concert with the committee’s work, Lefebvre said an internal team at city hall will work with their counterparts in other municipalities to dig out best practices for Greater Sudbury to adopt.
Reflecting on Lefebvre’s address, Northeastern Ontario Construction Association executive director Mark Kivinen told Sudbury.com he is “very optimistic,” and that Lefebvre has “hit the ground running” since he was elected to head city council on Oct. 24, 2022.
“He is so engaged with the community and understands what the community wants and needs, and also has the ability to not stay stagnant, to open up and don’t be just locked in your little bubble,” Kivinen said, adding that the upcoming committee should aid in this effort.
“There are other municipalities that are doing things better than us, and we are doing some things better than them,” he said. “I think we understand now that if we’re going to promote growth, we’ve got to open up the city a little more.”
Thursday night’s speech and subsequent question and answer period highlighted an ongoing concern within the local construction industry of so-called “red tape” at city hall, which Lefebvre said city council’s upcoming committee will strive to suss out.
Ward 5 Coun. Mike Parent has also addressed “red tape” in a motion greenlit by city council in February, which will see the city partner with the Greater Sudbury Chamber of Commerce to investigate ways of streamlining processes for businesses.
During his speech, Lefebvre cited recent progress on the Employment Land Strategy and a $1.25-million interim fix approved for Fielding Road, which services one of the city’s industrial hubs, as recent signs of city council support for tackling economic growth.
“We’re serious about this,” Lefebvre said, adding that the work on Fielding Road is a solid investment that will help ensure clients and those working in the area won’t have to wear a mouthguard while navigating the pothole-filled road.
Earlier this week, city council approved a public consultation plan for a new tax incentive called the Employment Land Community Improvement Plan, which Lefebvre cited as another recent move toward spurring economic activity. Sudbury.com will be publishing an in-depth report on the proposal soon.
Tapping into the value-added market when it comes to battery-electric vehicles, the city’s infrastructure deficit, its collection of aging facilities, a need for housing across the continuum, and a need for employees in a local economy in which there are approximately 3,500 unfilled jobs right now, were also hot topics during tonight’s speaking engagement.
Lefebvre said all of these issues and more will need to be dealt with to help meet his ultimate goal of increasing Greater Sudbury’s population to 200,000 within 20 years.
Tyler Clarke covers city hall and political affairs for Sudbury.com.
Investment opportunities in precious metals: Three hot picks from David McAlvany
The Canadian Press
Gold breaking above 2000 is likely a 2023 event: CEO
VIDEO SIGN OUT
The precious metals sector could stand to benefit from renewed exploration, particularly at a time when investors are undervaluing several companies within the space, one financial expert says.
In a Thursday interview with BNN Bloomberg’s Amber Kanwar, David McAlvany, chief executive officer of McAlvany Financial Companies, said precious metals companies that specialize in mining commodities such as gold and silver are well-positioned to capture new growth through exploration, and are showing sustainable cost production.
He recommended Orla Mining Ltd. (ORLA), I-80 Gold Corp. (IAU) and MAG Silver Corp. (MAG) as his top picks in the precious metals sector.
McAlvany, his family and his firm own shares of all three companies mentioned above, however his investment banking clients do not.
Check out the full video at the top of the article to learn more.
BRAVO READY Announces Strategic Investment From Magic Eden
MONTREAL, Québec — BRAVO READY, creator of BR1: INFINITE, the world’s first pay to spawn, kill to earn shooting game, today announced a new strategic investment from Magic Eden, adding to its expanding list of investors, which includes Krafton (owners of PUBG), 6th Man Ventures, and Solana Ventures. The funding provided by this investment will be directed towards the further development and mass adoption of BR1: INFINITE.
“With the support of Magic Eden, BRAVO READY is now better positioned to provide liquidity to gamers,” said CEO and Co-Founder, Evan Ryer. “Delivering innovative and exciting gameplay experiences that leverage a risk-based model is what keeps players coming back – we are excited to keep onboarding strategic partners like Magic Eden.”
“We are excited to support BRAVO READY and their vision to bring intense competitive gameplay to Web3.” said Chris Akhavan, Chief Gaming Officer, Magic Eden. “We believe the combination of Web3 technology and skill-based player economics will create thrilling experiences for gamers.”
About BRAVO READY
BRAVO READY is a Montreal-based game publisher. In addition to producing AAA and WebGL titles like BR1:INFINITE & Mini Arena, BRAVO READY offers a range of products & services to help align games and game companies for success.
About Magic Eden
Magic Eden is the leading cross-chain NFT platform driving the next billion users to web3. Led by former crypto, tech, and hospitality leaders, Magic Eden is building a user-friendly platform powered by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments onto the blockchain, empowering users across thousands of digital communities to create, discover and collect unique NFTs. For more information, please visit www.magiceden.io
View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005710/en/
Corey Herscu for BRAVO READY
The Art of Gardening — New Patio Plants – CFJC Today Kamloops
Is AI art the new frontier or just another way to rip artists off? Watch episode 1 of digi-Art now – CBC.ca
UK economy avoids recession but businesses still wary
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Search for life on Mars accelerates as new bodies of water found below planet’s surface
Sports9 hours ago
Edmonton Oilers deliver a statement performance in a 2-0 shutout of L.A.: Cult of Hockey Player Grade
Science19 hours ago
After sunset, see the 5 planets in the sky or via video
Art9 hours ago
The art of picking the perfect colour
Business19 hours ago
Stocks extend rally as Wall Street looks to end of quarter: Stock market news today
News21 hours ago
Six bodies, including one child, recovered from St. Lawrence River
Sports19 hours ago
Bontis says he’s apologized to Sinclair, doesn’t remember insult
Business18 hours ago
White House proposes tougher U.S. bank rules, new tests after crisis
Investment18 hours ago
BRAVO READY Announces Strategic Investment From Magic Eden