Hey Hey! My pension plan is finally earning money again! Maybe I'll actually get to retire someday!
So lately I've been trying to find decent investment options for my work, with very little luck. Because, as we all know, interest rates have tanked.
With Prime hovering around 0.9%, low-risk investments (GICs and the like) are paying about 1% interest per year. Woot. You might as well stuff your money in your couch cushions - the money you collect from people's lost pocket change is sure to be better than what the banks are paying!
Heck, apparently, the TD bank is paying a whopping 0.0001% per year on 1 year GICs!! They don't even want your money!!
On the flipside, they're more than willing to loan you their money. At 7 or 8%! That's right, someone's making a boatload of money, and it ain't us!
But did you know that you can purchase shares in that big bank? That big bank that is raking in billions of dollars per year in profit. Not only that, those shared pay dividends. Dividends. A portion of the profit, each and every year. Right now, BMO shares are running at about $50 each. They pay about 5% in dividends. Not a lot, but way better than what the same bank is paying you in interest on your savings account!
And then, there is this lady:
Local Woman enjoys Million-dollar Birthday.
*sigh* You just never know....
everything is different, everything is the same
2 years ago
Her husband is a special kind of jerk to top it off.
ReplyDeleteYa... I've noticed the fallout of this loan free for all thing. Construction type work around here fell off sharply for awhile and now it's back.
ReplyDeleteSome of it is the government grant stuff but a lot of it is just people who now "have money".
Plus people are buying houses like crazy. I hate to be a pessimist but it doesn't look good.