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Email this10:38 pm
December 21, 2018
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I have ~$32k in my RRSP sitting in cash @ questtrade. The rest of my sizable non-registered savings are in B2B earning 3.3%. I recently became a non-resident of Canada (moved to USA). My ability to chase bank interest promos has become limited as many banks do not allow non-resident accounts.
I converted some of my savings to USD for living expenses, but will retain the majority of my wealth in CAD for the time being.
I do not like too much risk. I do not want to invest in the SP500 at an all time high. Ive considered stocks that have been regarded as always safe such as utility stocks or grocceries, etc, but everything seems extremlay inflated. I will probably just settle for some sort of bond.
What are some *safe* investments for the short - medium term I should look at? I was looking at vanguard bonds VAB or VCB for my RRSP, but for my remaining non-registered cash I am not exactly sure what to do. Canadian brokers do not allow non-resident accounts (except RRSP). Any suggestions?
8:27 am
December 1, 2016
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If those are the only 2 options, then VAB, however, I would recommend VSB instead; short term bonds tend to perform better, especially if you may need to access the $ sooner rather than later because of your move to the US.
As for the remaining cash, it all depends on what's going on in your life. Do you need access to the cash in the short-term (1-3 months)? If so, then I would keep it as liquid as possible, in a HISA with the best rate possible.
Many will tell you that timing the market is not advisable, and although I agree with this (time in the market is far more important), the market is at an all-time high, so there is nothing wrong with holding "some" cash and ready to deploy when the "time" is right.
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