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Email this1:39 pm
October 30, 2022
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Hi,
Hope someone can help. I’ve made lots of money in Real Estate but lost a good chunk in the stock market. I’m looking at buying a 10 year GIC in an unregistered account for the simple reason I can refinance up to 80% of it at anytime and it is CDIC eligible. I’m looking at locking in a little less then half my equity 600k. With a dual bank account for 300 (all separated per 100k with separate bank entities so all cdic insured) and another 300k in a personal account with a will for survivorship (I am 40 and my gf is 35). My biggest question is I was offered 5.3 by BMO and now trying Scotia bank at 5.5 (matching BMOs rate and beating it by a bit) and this is through a financial planner with BMO and an assistant bank manager at Scotia bank, my question is have others noticed these significant back pocket offers going up with managers vs lower totem pole employees that are most likely paid larger commissions? Posted rates are around 5% for 10 year GICs currently and I do see the yield curve inverted as of now and am worried about the 10 year going down even with rates increasing a possible .5. Any and all help appreciated
2:02 pm
April 14, 2021
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hayman said
My biggest question is I was offered 5.3 by BMO and now trying Scotia bank at 5.5 (matching BMOs rate and beating it by a bit) and this is through a financial planner with BMO and an assistant bank manager at Scotia bank
If you are getting 5.3% and, possibly, 5.5%, give me the name of your contacts. I would love to get the same. 
2:11 pm
October 30, 2022
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I had the 5.3 locked in and invested and got cold feet I was told I could take monies out inside a 21 day window, this happened 2 weeks ago I put an email into the financial planner hoping for 5.5 on Monday (BMO) his name is Ivan I was passed onto him from the 1844 number call center as he is one step up as a financial planner, on the BMO GIC page. He seamed a bit more timid as I spoke to him on Thursday of last week about the yield curve being inverted as I was asking for 5.7 haha
5:17 pm
April 14, 2021
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Good for you, on asking for 5.7%!
You'll never know, if you don't ask.
5:29 pm
March 30, 2017
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One can safely assume lots of wiggle room in the 10y, esp it’s not a well traded term, meaning what’s printed on screen is a very ‘conservative’ rate.
8:12 pm
October 30, 2022
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Yes, and if the 5 year can’t eclipse 6% in the near term I think the 10 year at 5.5 is an awesome play. I’m going to push hard tomorrow to lock my money at 5.5. Grateful
4:43 am
June 28, 2022
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Hello Hayman. I realize that you are asking about GICs, but given that you had mentioned that "any and all help is appreciated," I thought that I would chime in.
Firstly, I realize that you are departing the stock market (as I did at the end of last year), so this may not be pertinent to you right now. Nevertheless, I thought that I would share a link to a free technical analyst who, based in his advice over the last three years, saved me from losing $90K this past year: http://www.pretzelcharts.com. It's true that this individual gives both the bull and bear side of the trade, which drives my partner to say, "Of course he's not wrong, he gives you both the upside and downside possibilities!" When I reply, "Hey Sweety, how's your portfolio doing this year?" this usually ends the conversation. 🙂 I don't understand all of the idiosyncrasies of Elliott Wave Theory, but this analysts' charts have near, intermediate, long, and very long-term visual targets on them that are easy enough for an elementary student to understand. I felt that this information may be of use to you if you are interested in re-entering the stock market when your GICs mature.
I hope that this can be of some help!
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