Michael Himmelman CFP - Certified Financial Planner & Investment Advisor

Mike Himmelman, CFP, Certified Financial Planner & Financial Advisor, Halifax, Nova Scotia, NS


You can look up daily fund prices, track performance, & monitor your portfolio at Globefund.



Savings accounts are the simplest way to earn interest. The interest is generally low (less than one per cent these days) because the money can be withdrawn at whim. Interest can also be determined by whether the savings account is bundled with a chequing account. Check Current Savings Rates
Guaranteed Investment Certificates (GICs) - are for investing in for a year or more - usually one to five years - and come in various forms with different available options. Check out the options offered and determine which suit your needs and situation most closely. For example, some can offer a low interest rate in the first year and more attractive returns in subsequent years. Always check if there are penalties for early withdrawal and how much those penalties are. It is important to consider the liquidity of any investment. Liquidity means how available your money will be if you want to withdraw it on short notice. Generally, the more liquidity you want, the lower the interest-rate return. Long-term rates tend to be higher, but in high-inflation and pre-recession environments, this may not hold true. Check current GIC Rates
Canada Savings Bonds - typically offer more liquidity than GICs. They can be cashed in without penalty after 90 days if you do it at month end. Terms vary from issue to issue. They have been made more attractive lately because of stepped-up guarantees on rates beyond the first year. For example, three per cent could rise to 5.00 percent. Minimum purchase is usually $100 and the maximum $500,000. Check Current CSB Rates
Money Market Mutual Funds - invest in federal government treasury bills, provincial treasury bills, and short-term commercial paper issued by the most credit-worthy corporations. The return for these funds are expressed as a yield. Check Current T-Bill Rates
Bond Mutual Funds - are a pool of government and/or corporate bond investments that are professionally managed. They have two components: the rate of interest the bond is paying and the price you pay for the bond. If a bond is paying five per cent and interest rates move higher, the bond is less attractive and therefore worth less. The price of bond mutual funds, therefore, moves in an inverse direction to interest rates. Check Current Canadian Government Bond Yields
Balanced Mutual Funds - are a combination of cash, fixed income (such as bonds) and equities (such as stocks). These funds are an efficient way to spread your money across diffent types of investments. When stock markets are down, for example, bond markets may be up, or vice versa. Diversification by asset class is the objective with these types of funds. They will tend to produce a lesser rate of return over the longer term, than equity-based vehicles, but will tend to exhibit lower volatility.
Equity Mutual Funds - are mutual funds that invest in a mixture of stocks. Equity funds are categorized by the types of stocks in which they invest. For example, by geography or industry type. Usually, these types of funds will be more volatile and generate the highest rate of return over longer investment time frames. Check Current Stock Market Conditions
Labour Sponsored Mutual Funds - are equity type investment funds sponsored by labour to provide venture capital for small and medium-sized businesses. Most of these funds are provincially based, although some national labour funds exist as well. Thanks to the generous tax credits they offer investors, these funds have proven quite popular. To benefit from these tax credits, investors must typically allow their investment to remain in the fund for a minimum of eight years. It should be noted that the large tax credits are offered as a "risk premium" of sorts. These funds will tend to be towards extreme end of potential volatility.

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The information contained herein is for Canadian residents only and does not constitute an offer to sell or a solicitation in any foreign jurisdiction, or in any Canadian jurisdiction where Michael Himmelman is not licensed to effect sales. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisor for advice based on your specific circumstances.

Michael Himmelman, and Screenlevel Web Solutions do not make any representation that the information in any linked site is accurate and will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. Any opinion or advice expressed in a linked site should not be construed as the opinion or advice of Michael Himmelman. The information in this communication is subject to change without notice.

No representation is made that the information in this site or any linked site is accurate and we will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. The information in this communication is subject to change without notice.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus carefully before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Please note that advice given is for illustrative purposes only and may not be applicable in any particular case. Errors and omissions excluded.