Recovering from GIC sticker shock Jan 15th

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Making sense of the markets this week: January 25, 2021 Jan 24th

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  The best post-election surge in modern presidential history Stocks gained about 13% between U.S. election day and Jan,19, the day before Joe Biden’s inauguration—mar.... More »
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Making sense of the markets this week: January 18, 2021 Jan 16th

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  The stock markets kick off 2021 So far, the stock markets of 2021 have picked up where they left off in 2020: with more gains.  And sector by sector, we are seeing some los.... More »

'Overwatch 2' And 'Diablo IV' Won't Be Released In 2021, According To Activision Blizzard - Forbes Feb 4th

'Overwatch 2' And 'Diablo IV' Won't Be Released In 2021, According To Activision Blizzard  ForbesActivision Blizzard beats earnings expectations after 'best year in our 30  Yahoo Canada FinanceOverwatch 2 and Diablo 4 won’t be released in 2021, Activision Blizzard says &nb.... More »

Financial planning in your 70s Feb 10th

When most people think about financial planning, they think about saving and investing for retirement. That is a part of it, but financial planning is much more holistic. Here are a few financial planning strategies for those approaching or into their 70s. If you’re not there yet, bookmark this fo.... More »

Air Canada earnings: Airline posts 'grim' results but 'very encouraged' by government talks over aid - Yahoo Canada Finance Feb 12th

Air Canada earnings: Airline posts 'grim' results but 'very encouraged' by government talks over aid  Yahoo Canada FinanceFeds approve Air Canada takeover of Air Transat  CTV NewsAir Canada posts 'bleak' results as Transat deal comes through  BNNAir Canada posts 'bleak'.... More »
If you’re a retiree or near-retiree relying on GICs for your fixed-income investments, no doubt you’re facing GIC sticker shock as previously invested GICs are reaching maturity. If before you were getting 2% to 3% on 2-, 3-, 4- or 5-year GICs, you may be shocked to discover you’ll be lucky to get 1%—and only then if, instead of taking the GIC your brokerage suggests, you fight for a better offer. Committing to a 5-year term may gain you only 0.5% or so, depending on the provider.
Nor will matters improve any time soon. The Federal Reserve, Bank of Canada and other central banks have suggested interest rates will stay “lower for longer.” The Fed, in particular, has indicated rates are unlikely to rise for at least three years.
This is classic “financial repression” and unfair to seniors who saved all their lives and don’t wish to take on the full risks of stock investments at this time in their lives. Adrian Mastracci, portfolio manager for Vancouver-based Lycos Asset Management Inc…

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