Anyone investing heavily this year??
- Thread starter rph2005
- Start date
SpaceX closed at $133 today
Athletes signing up to get treated like Floyd.
Yea I dont trust it. Everyone heard the earnings call which included more vaporware + announcing additional CapEx spending and still buying?
More power to whoever is buying, I'm just a spectator.
Great conversation
The best savings rates out there may not be the highest ones
If money is left in an account for a year, a lower standard rate can beat a promotional rate that is higher but temporary
www.theglobeandmail.com
The best savings rates out there may not be the highest ones
Jimmy NguyenSpecial to The Globe and Mail
Published July 22, 2026Updated July 23, 2026
15 Comments
A 4.75-per-cent savings rate seems much better than 3.00 per cent, but only until you read the fine print.
Canada’s top promotional savings-account rate is much higher than the best standard savings rate. BMO is offering 4.75 per cent for four months, while Simplii Financial, RBC and CIBC are offering 4.60 per cent for three to five months.
Those are eye-catching numbers for short-term cash. But they don’t last.
After the introductory period ends, BMO’s promo rate drops to 0.50 per cent, RBC’s drops to 0.55 per cent, and Simplii and CIBC drop to 0.30 per cent.
That changes the math. If money is left in the account for a full year, a lower standard rate can beat a higher temporary promo rate. A 3.00-per-cent standard savings rate earns about $300 on a $10,000 balance over one year, before compounding.
By comparison, BMO’s 4.75-per-cent promo for four months, followed by 0.50 per cent for the rest of the year, works out to about $192. Simplii’s five-month 4.60-per-cent promo followed by 0.30 per cent works out to about $209.
That is why standard savings accounts deserve more attention right now. WealthOne’s RRSP high-interest savings account and Manulife Bank are tied for the top standard high-interest savings rate at 3.00 per cent, ahead of Saven Financial at 2.85 per cent.
WealthOne’s rate applies to its HISA account using a tiered structure: 2.60 per cent on balances under $10,000, 2.75 per cent from $10,000 to $24,999, and 3.00 per cent on balances of $25,000 and above.
Meanwhile, WealthOne’s RRSP HISA pays 3.00 per cent on any balance with no minimum. Manulife’s 3.00-per-cent rate applies to non-registered accounts and is valid on new deposits for two years.
Promo accounts can still make sense. If you are organized, willing to move your money, and only need a temporary place to park cash, a 4.75-per-cent or 4.60-per-cent promo rate can be useful. But if you are likely to leave your money sitting after the promo expires, the better-looking rate may not be the better account.
GICs tell a different story. These GIC rates are not temporary promos, but they do require savers to lock in their money. The best one-year GIC rate is now 3.65 per cent from MCAN Financial, followed by Achieva and Saven at 3.60 per cent. The best two-year and three-year GIC rates are both 3.90 per cent, shared by MCAN Financial and WealthOne.
At the long end, WealthOne remains the five-year GIC rate leader at 4.10 per cent. MCAN, Achieva, Oaken and Saven are tied in second place at 4.05 per cent. For savers who do not need access to their cash, the five-year GIC remains the strongest guaranteed rate on the table.
WOWA’s collection of the latest mortgage rates shows the best three-year fixed mortgage rate at 3.84 per cent and the best five-year fixed rate at 3.94 per cent. That means the top three-year GIC at 3.90 per cent is slightly higher than the lowest three-year fixed mortgage rate, while WealthOne’s five-year GIC at 4.10 per cent is 16 basis points above the lowest five-year fixed mortgage rate.
In other words, some savers can now lock in a guaranteed GIC rate that is higher than what some borrowers are paying on a fixed mortgage.
For short-term cash, promo savings accounts can still win. For flexible money that can sit for longer, standard savings rates from WealthOne and Manulife are more competitive than the headline numbers suggest. For money that can be locked away, GICs still offer higher guaranteed returns.
The best savings account is not always the one with the biggest advertised number. More often than not, it is the one that keeps paying a competitive rate after the promotion ends.
That’s not even remotely true.
Yea it was. I remember those Orange accounts offered some crazy interest rate at the time (mid 2000s?). I'm not sure why I stuck with Cap1 after the switch, but honestly the ease of opening up the savings accounts def helped me get my shit together.
EDIT: Damn! I just went looking for the old commercial, the rate sucked!
.. I was probably hooked because of the "no minimums no fees". I was straight outta LoCash back then, just got out of college
The best rates I got from them in recent years were up to 6%.
ING Direct (now Tangerine).
STOCK MARKET BOOM FUELS EARLY RETIREMENT
Older Americans are leaving the workforce at a faster pace.
Labor participation among people aged 55+ has dropped from above 40% pre-pandemic to 36.9% in July.
Bank of America economists point to rising wealth as a key driver.
With the S&P 500 up nearly 40% over the past two years, bigger 401(k) balances may be making early retirement easier for many Americans.
Something most people overlook with a 401K is the RMD (Required Minimal Distribution) at 73. The Govt forces you to take out a certain amount every year based on the total 401K balance. This can push you into a higher tax bracket which will affect your medicare premiums as well. Keep in mind, you'll also collect social security. That combined with your 401K RMD will have you paying out the ass.
At 53 my 401K balance is just below $900K, my employer contributes 4%, I put in 12%. I still invest in VFIAX, VTSAX, VSMAS and I buy stocks/ETF monthly, I also have a ROTH I max out every year.
My plan is to keep putting 12% into my 401K until I'm 59, then I'll drop my contribution down to 4% so I can continue to match what my employer puts in. The difference will help beef up what I'm already putting into brokerage accounts and investments that don't have RMD's like a 401K. This will also help to lower my tax burden in retirement.
Once I'm over 59 and a half per IRS rules for 401K withdraw without a penalty. I'm considering using a backdoor ROTH conversion. Meaning, taking lumps of money out my 401K paying taxes on that money then put into my ROTH, which again will help lower tax burden in retirement.
Makes sense why so may retired folks pack up and move to states with no income tax.
Points of note:
There are nine U.S. states that do not levy a traditional personal income tax on wages: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming
You pay for Medicare, which is federal health insurance for people 65 and older. Most people pay a monthly fee for Part B, while Medicaid is a separate, low-cost state program for people with low income. Some retirees with limited funds qualify for both.
Don't know why so many people still hold Nike, this stock has been getting beaten up for years.
Selena Gomez & Mom Mandy Teefey Sued by Wondermind Investors, Mandy Responds to Allegations
Mandy Teefey is speaking out. The 50-year-old mother of Selena Gomez issued a statement following the news of a lawsuit filed by Wondermind SRS 44 LLC and
www.justjared.com
Selena Gomez’s Mental Health Startup Wondermind Lays Off Nearly Two-Thirds Of Its Employees
Several employees spoke to Forbes about financial issues at Wondermind, the four-year-old mental health startup co-founded by the celebrity and her mom in a report Forbes published over the weekend. Now it’s laying off most of its 15-person staff.
www.forbes.com
John Overdeck has been married for over 24 years. Contrary to popular belief, his net worth is not 80 billion dollars. Instead, Forbes estimates his net worth to be around 8 billion dollars.
Wife of hedge fund mogul demands $6.2B in divorce — but he offers one tenth of that as court battle rages: report
The bombshell breakup between John Overdeck and his wife Laura Overdeck — who married without a prenup during the infancy of his Two Sigma Investments firm — kicked off Wednesday in Newark.
I hope she also took a class with Toni Morrison.John Overdeck has been married for over 24 years. Contrary to popular belief, his net worth is not 80 billion dollars. Instead, Forbes estimates his net worth to be around 8 billion dollars.
Wife of hedge fund mogul demands $6.2B in divorce — but he offers one tenth of that as court battle rages: report
The bombshell breakup between John Overdeck and his wife Laura Overdeck — who married without a prenup during the infancy of his Two Sigma Investments firm — kicked off Wednesday in Newark.nypost.com
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