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Discussion Starter #1
I am leaving the country for 6 months and recently inherited $150K. I am asking for what you all think would be the best place to invest it short term? (180 days)

I want to preserve capital, no risk. Then when I return I will have time to plan further....

Thanks.
 

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The safest vehicle would be a 180 day GIC. Rates are pitiful but here are two sites where you should be able to find the best of them.

http://www.fiscalagents.com/bestGICrates.shtmlf (best rate 1.2%)

http://gicdirect.com/index.php/GIC_Rates/Today-s-Best-GIC-Rates (best rate 1.1%)

OR... since you have >$50K, you could put it in a high interest savings account at Ally and get 2%. Better still, divide the money into two such accounts, each under $100K, so that your principal is fully CDIC insured.

http://www.ally.ca/en/savings/high-interest-savings-account/hisa-overview.html
 

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Since you want to preserve capital, dividing your money into a savings account and a GIC should do the trick. IMO, Ally offers a pretty good interest rate on both the savings account and a 1-year cashable GIC.
 

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Perhaps you should decide what you are doing beyond 6 months? Otherwise the advice you received is good. Such is the price of flexibility.
 

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Discussion Starter #5
Perhaps you should decide what you are doing beyond 6 months? Otherwise the advice you received is good. Such is the price of flexibility.
Thats just it, I am not sure at the moment so I felt it is best to put it away for now and then look at it when I return.

Thanks for the advice.

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I agree with the GIC. If you're not planning on spending it any time soon, then go with short term laddered GICs. E.g. 1/2 of it in 3 month GIC< 1/2 in 6 months. With interest rates on the rice, you can then re-invest that money into higher paying GICs.
 
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