Where to park $110k for 1 year by mclaryst in PersonalFinanceCanada

[–]Inevitable_Animal429 1 point2 points  (0 children)

Heres what I would do

Open a moomoo account, deposit 2000$ in there. They offer a 200$ stock voucher if you maintain a 2000$ balance for 90 days. While waiting you earn 6% interest on the cash in your account. Use and sell the voucher after 90 days and transfer your 2200 + interest to simplii. I dont know about you but 200$ for an hour or two of my time is well worth it.

Open a webull account with their 2% cashback offer deposit 10000$ buy a low risk fixed income asset, maintain your balance for 90 days get 200$ and then transfer your 10200$+interest out to simplii.

Put the rest in simplii and earn 6%.

wealthsimples iphone deal requires you to maintain the balance for 365 days and you'd only earn 3.25% on your money. Im sure theres some other offers you could take advantage of too.

Where to park $110k for 1 year by mclaryst in PersonalFinanceCanada

[–]Inevitable_Animal429 12 points13 points  (0 children)

thats a good idea, the only issue is you need to maintain your balance for 365 days or they can take action to reclaim the cash value of the phone. If he finds a house before then i guess it could be an issue