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GIC Strategy (self.personalfinancecanada)

submitted 7 months ago by 20mins to c/personalfinancecanada

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Hi all, I'm new to investing (just turned 18 this year).

I work a full time job and want to start saving and growing my money.

My current portfolio consists of a variety of sources, including GICs, managed ETFs, and cryptocurrency. For ETFs and crypto, I deposit a portion of my paycheque into the respective exchanges as part of a dollar cost averaging strategy. But for GICs, I'm a little confused.

I have one GIC already for a 13 month term, but I'm not sure of the optimal contribution strategy. Should I be buying a new GIC each month with a portion of my paycheque, or maybe accumulate funds annually and then put them into new GICs?

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[–] [email protected] 1 points 7 months ago

No interest in chasing promos? They are regularly 5% or more on new deposits