Re: 2003 CDN Edition - Setting up a 5yr GIC by D
D
Sun Jan 02 07:15:02 CST 2005
Thanks mak, that helps. It is frustrating that the CDN edition really
doesn't provide any pertinent info. Perhaps you can help further, once the
CD matures, is there a way to automatically transfer amounts to other
accounts/investments? I have 5 years worth of monthly investments that will
be maturing each month, and re-invested into RRSP's. Will I have to manually
transfer the amounts, or is there a way to set up an automatic xfer. I
assume at maturity that the CD is returned to the associated cash account?
Thanks Again,
"mak" wrote:
> On Sat, 1 Jan 2005 15:19:01 -0800, "D Fisher" <D
> Fisher@discussions.microsoft.com> wrote:
>
> >I am trying to set up a retirement account that my employer contributes to; a
> >5 year guaranteed interest account. Even tho I have the CDN edition, all
> >banking info and retirement account info is for US users, no CDN info
> >available. Is this the same for '04 and '05 versions?
> >
> >What type of retirement account should I be choosing for the GIC (the 401K
> >perhaps)? The account is just over 5 years old, so there are bi-weekly
> >contributions from my employer, plus on a monthly basis, there are transfers
> >out to RRSP's because of the maturing 5 year old deposits (the employer
> >recently changed from monthly contributions to bi-weekly).
> >
> >Thanks for your help,
>
> Use CD (Certificate of Deposit) to mimic a GIC. For the RRSP, use IRA
> (401k I think will also work, Money doesn't do a particularly good job
> distinguishing which should be used if you are a Canadian). The last real
> Canadian version was 2000 and since then Money has been a hybrid of U.S.
> Money with no specific changes that pertain to Canadians. This will
> probably be the case for the foreseeable future.
>