Investing in GICs? Here’s why to buy them from an online bank Jul 14th

TSX getting you down? There are always sound investment alternatives.
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In today’s harsh investing climate, it’s nearly impossible to avoid volatility. What’s been particularly painful about the instability of this past year is the range of different asset classes hit. Whether you’ve been investing in stocks, gold or cryptocurrencies, your portfolio has likely seen some steep ups and downs. For example, the S&P/TSX Composite Index has already endured two 10% pullbacks in 2022, and Bitcoin has dropped more than 50% since the start of the year.

With plenty of question marks still surrounding the economy for the foreseeable future, many investors with short time horizons are now understandably searching for safer investment options. For anyone looking for a dependable—but also competitive—return on investment, guaranteed investment certificates (GICs) from a digital bank could be the answer.

What is a GIC?

When you buy a GIC, you lend an agreed-upon amount of money to a financial institution for a set period—anything from one month to 10 years…

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