Reddog01 30280 Report post Posted September 27, 2016 Gee I remember not that long ago that CSBs were a great way to save; especially as forced savings through payroll deductions. Purchases are down 85% since the late 1980s when it only took you 4-7 years to double your investment and it was safe with no risk. For obvious reasons I stopped buying them years ago as the interest rates plummeted. Rates are now about 0.70%..... The government is thinking about retiring the program as it costs about 60 million to administer - not sure why it costs so much. Anyone else use these in the past as an investment? Do you see the benefit of continuing to buy? Quote Share this post Link to post Share on other sites
GoinDown 3669 Report post Posted September 27, 2016 CSBs have been a terrible idea for years. Any 'investment' instrument that pays you less than inflation is a complete dog. Better to spend your extra $s on escorts and at least get some bang for your buck !!! 4 Quote Share this post Link to post Share on other sites
blacklabdog 3049 Report post Posted September 27, 2016 The part of my portfolio I have in 'cash', I have in a money market fund and President Choice account which is over 0.7% and more liquid CSB and keeping money under the mattress about the same especially since .7 is before tax 1 Quote Share this post Link to post Share on other sites
Reddog01 30280 Report post Posted September 27, 2016 For sure I agree that for less than 1% this is no way to park your money. It was purely for nostalgia reasons that I brought this up at all as CSBs were part of my life back in the day when I could double my investment over a few years. I would be happy to find any investment/stock that I could do this with today! Quote Share this post Link to post Share on other sites
blacklabdog 3049 Report post Posted September 28, 2016 Back then inflation was way higher. I do remember buying them as a teen in the Fall every year Quote Share this post Link to post Share on other sites
Guest *Ste***cque** Report post Posted September 28, 2016 I remember buying them 30+ years ago as part of a payroll savings plan at the office where I worked. It was convenient and the return was great. Sadly, I had very little extra money back then to save as I was just starting out and had rent, car and weekend beer expenses. :) I haven't bought a CSB for ages. I agree, there isn't much point maintaining this idea as the return is so lousy. You're better off now signing up for a company RRSP plan that matches your annual contribution or setting up an automatic deduction for investing in dividend paying blue chip stocks. I don't know of any investment nowadays that pays the kind of return CSB's gave in the 80's, maybe real estate in Vancouver, Toronto but who has that kind of money for a hefty deposit? Now that I'm trying to max my savings for retirement, there aren't a lot of investments around with good returns. Quote Share this post Link to post Share on other sites