If you are looking to diversify your investments, consider putting some of your money on GICs. The main lure of GIC is its security. You will never lose your capital, so if your main goal as an investor is capital preservation, investing in GICs is a good choice. GICs are also accessible and can yield a good passive income.
When investing in GICs, it’s important to take these things into consideration:

1. Don’t put all your money on GICs.

Many investors transfer all their money on GICs because they are governed by fear. They worry that the market will collapse anytime, taking all their equity investments with it. While the market occasionally crashes, it always goes back up. It’s a cycle, so it’s important not to lose your equity investments as well. If you sell your equities low and transfer them to GICs, you could potentially lose a lot of money. Sit it out. Hold on to your equities, as long as you know how to stop your losses. Invest in blue-chip companies if you plan on long-term equity investments.

2. Understand how to compare GIC rates in Vancouver.

When you go to a bank to get GICs, they will offer you their rate. Don’t settle for the rate that your bank offers. Make sure you shop for the best GIC rates in Vancouver. Even if the difference in rates is just 1%, that makes a lot of difference if you consider long-term implications. In 20 years, you could have 22% more money if you take on a higher rate.

To understand what GIC rates in Vancouver are better, you can consult experts in the industry such as Cadence Financial Group. Learn how to compare these GIC rates in Vancouver and what they mean for your long-term investments.

There is no harm in negotiating for a better rate as well. If the financial institution makes a generic offer, chances are, you are not getting the best one. First, try to look for more competitive rates in other banks and see if your bank can match that.

3. You can benefit from the services of deposit brokers.

Deposit brokers are industry experts. They know different GIC providers out there and can help you compare the rates. Your broker will also negotiate or barter on your behalf, so if there is a particular rate you want to go after, let your broker know.

4. Laddering GICs yields better results.

The laddering technique helps you in getting the best rats. Divide your money and invest it on different GIC terms with different rates. It allows you to become liquid as money comes in for every year the terms are done.
Cadence Financial Group can help you in choosing the best GIC providers, so you can diversify your investments.

For more details about Financial Planning Vancouver please visit our website: cadencefinancialgroup.com