Wealth Awesome Newsletter

Hey there,

Debt and interest rates continue to be the hot topics for Canadians, and it's no wonder why. 

In less than two years, the overnight interest rates have skyrocketed from 0.25% to 4.5% today (an 18X increase!)

I recently wrote an article for CTV News outlining how much debt is normal for your age, and it's been getting quite a lot of buzz because of this hot topic of interest rates and debt.

A great way to take advantage of the high-interest rates is still a 1-year GIC at a company like EQ Bank, where you can currently get a 4.75% rate. 

If you look at the forward GIC rates, it seems like interest rates are forecasted to fall (for example, the 2-year GIC falls to 4.35%, and the 5-year GIC falls to 4.15%). 

A 1-year GIC is an excellent way to get a high-interest rate and not have to lock in your money for too long. I recently locked in a 1-year GIC purchase because I'm forecasting rates to fall soon. 

You can sign up for the 4.75% rate here.

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PolicyMe - Quick and Free Term Life insurance Quotes4.75% 1-Year GIC at EQ Bank2.50% interest rate at EQ Bank

Regards,
Christopher Liew, CFA
Creator of Wealth Awesome
Website: Wealthawesome.com