-
RSS Become a Fan

Categories

Community Building
Critical Illness Insurance--The RRSP Protector
Guaranteed Income Needed?--Consider a GIC Alternative
Insurance for Children
Insurance-Who Needs It?
Life Insurance As a Necessity
Lifestyle Altering Gifts
Personalized Product Selection
Strategic Financial Planning

Archives

December 2019
December 2017
December 2016
June 2016
March 2016
February 2016
November 2015
September 2015
April 2015
January 2015
November 2013
September 2013

powered by

My Blog

June 2016

GUARANTEED INCOME NEEDED? Is a GIC your only option?

I met with a prospective client recently who had some cash but wanted a guaranteed income stream for the next few years with no market risk.  She was considering a 5 year GIC as it seemed the best option she had seen for her situation.

As a 64 year old, she did not want to risk any dips so she had ruled out investing in the markets. She had specific income needs and the 1.5% rate her bank quoted her for her $100000 was lower than she was expecting.  That would be $125/month in interest payments which is well below the $300/month she had hoped to get.
Website Builder provided by  Vistaprint