Sure. I keep all mine in my RSP but I do understand that I am just deferring the tax issue. GICs are usually still ahead of burying the money in my backyard so until someone comes out with something else with similar guarantees, that offer a better rate of return, I will keep rolling my allocation to GICs over as they come due.Income tax on the GIC income plus the spread
I don't know of any GIC that come out ahead
I believe that at some point in a person's life, as they age and if they are fortuneate enough, they transition from a person needing to make more money into a person who needs to ensure they don't lose what they have. I believe I have reached that point. Since one cannot be sure that inflation will not render this allocation almost worthless (in other words one can still lose it) I also diversify my portfolio in other investments that have had a much better experience in keeping up with inflation. I recommend everyone do this, to some degree, unless you feel you are in about the last 5 years of your life.