Where to Put Your Savings

Where to Put Your Savings - Complete Controller

After years of saving or receiving an inheritance, we may find ourselves with a significant sum of money and no idea what to do with it. Unfortunately, many savers make one of two standard errors. Because I haven’t come up with a better purpose for it, I will spend it all or part of it.

Place the Entire Sum in a Risk-Free Regulated Passbook at the Bank

The first error is believing there is no better way to spend your money. Cubicle to Cloud virtual business Unfortunately, this vision sacrifices the “me” of tomorrow for the “me” of today, when there are many long-term projects to fund for one’s future: achieving financial independence as soon as possible, completing one’s future retirement, acquiring real estate for your primary residence or rental income, or even paying for your children’s studies or assisting them in obtaining their first property, and so on.

In the second case, the mistake is placing your money on an investment with a meager return (less than 0.5%/year), while inflation (the general rise in prices) increases yearly from 1% to 2 %. In other words, your money loses value over time. Remember, $100 today may be worth more than $98 tomorrow.

So, how should you spend your money wisely? It’s a matter of investing your money in ways that pay off. And there’s no need to accomplish extraordinary results: a slight increase in return will significantly impact in the long run. While capital gains may appear to be small at first, over time, the difference in heritage will become increasingly important, indicating the value of investing your money. Download A Free Financial Toolkit

Trusted Places Where You May Put Your Money and Get Healthy Cashback in the Form of Profit


A sublease is a real estate transaction in which a property is leased for the benefit of another person. Subleasing is a viable choice for singles who do not have the financial means to purchase an investment unit—recommended in resort locations or large cities with frequent excursions and high demand for daily rental apartments.

Subletting does not pose a risk of property damage because the harm is the responsibility of the home’s owner (of course, if this does not contradict the contract). However, because you must constantly hunt for tenants, this is inconvenient to produce cash. In addition, the sublet must receive approval from the apartment’s owner.

Commercial real estate

Commercial real estate is more profitable than private real estate. A large office and an apartment costs are nearly identical, but the profit will be higher. It is critical to select the appropriate object: in a busy, highly established area. Real estate on the lower levels of a new residential building, set up as a shop or beauty salon, is widespread. Although this investment guarantees a consistent monthly income from rent, profitability may suffer during a downturn.

Small business

Is it true that a good idea is the key to success? Certainly, but this isn’t the only stipulation. It is critical to have good management and marketing. Small business dividends cannot be considered passive because they need significant work and money to develop.

How do you come up with an excellent idea? If you choose to conduct your business offline, consider what items and services are missing in your area and develop a unique selling proposal.

Online projects

The information business – the sale of knowledge and skills – is booming. Nowadays, many people prefer to start a business online rather than provide actual services. You can generate traffic and sell advertising by creating an information portal or a website with a specific topic on social networks, accounts, and public work in the same way. The payback risks of online ventures rely on the activity chosen and the amount of money invested. Exit Advisor

During the epidemic, when schools were shut down for quarantine, it became evident that online learning via Skype and Zoom was the way of the future. At these locations, Educators taught a wide range of educational subjects.

Books from the bank

Livret A, LDD, Super Livrets, and so on. These monetary aids make next to nothing, but they have the advantage of being risk-free and accessible at any moment.

Euro funds

available through life insurance, these assets are managed by insurers and provide better returns than bank accounts.

Corporate securities

Equities markets provide the best returns, averaging 8% on average; nonetheless, they are hazardous and can go up or down. Rather than buying a few securities, we advocate investing in a stock basket (ETFs are perfect for this: find out more with our guide on how ETFs and trackers work).


Is the stock market a formidable foe? Cryptocurrency. The impact of virtual currency volatility is twofold: on the one hand, the profit potential is limitless, but on the other hand, the risk is real. Investing in cryptocurrency thus necessitates a high level of stress tolerance and the ability to purchase and sell currencies at any time.

Retirement savings plan (PER)

A Retirement Savings Plan (PER) is an investment that allows you to save for retirement. You can put in as much money as you like, but withdrawals are not permitted until you retire.

Guaranteed income supplement (SRG)

The Guaranteed Income Supplement (SRG) is a tax-free income exclusively available to persons who already receive an Old Age Security pension. It’s a social benefit for low-income Quebecers; it’s determined based on your income and marital status, and it’s linked to inflation four times a year to keep up with the cost of living.

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