in Business by (1.3k points)
edited by

What is the safest investment with the highest return in canada 2024

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.

1 Answer

0 votes
by (1.3k points)
edited by
Best answer

What is the safest investment with the highest return in canada 2024

We can't access to future information and can't predict the future with certainty. Additionally, there is no investment that is completely safe and offers the highest return at the same time.

That being said, some relatively safe investment options that can provide reasonable returns in Canada include:

High-yield savings accounts: These are offered by banks and credit unions and typically offer higher interest rates than traditional savings accounts. They are insured by the Canadian Deposit Insurance Corporation (CDIC) up to $100,000, making them a relatively safe investment option.

Government bonds: These are issued by the Canadian government and are considered relatively safe because the government is unlikely to default on its debt. Bonds can provide a fixed income stream and can be held until maturity.

Index funds: These are investment funds that track a particular index, such as the S&P/TSX Composite Index, which represents the performance of the Canadian stock market. Index funds provide exposure to a diversified portfolio of stocks, reducing the risk of investing in individual stocks. They are considered relatively safe in the long-term and can provide higher returns than savings accounts and government bonds.

It's important to note that any investment comes with risk, and it's essential to do your research, understand your risk tolerance, and consult with a financial advisor before making any investment decisions.

Welcome to AL-Mubde, where you can ask questions and receive answers from other members of the community.