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Your daily horoscope: May 9, 2025

  IF TODAY IS YOUR BIRTHDAY A change of direction is a must this year as you have reached the end of your current journey and need a new challenge. Make a break with the past and make it one that cannot be reversed. Move forward fast and don’t look back. ARIES (March 21 - April 20): Someone you meet on your travels will catch your eye and maybe your heart as well. If it’s true that opposites attract you could find yourself getting close to someone whose charms are very different to your own – and remarkably the relationship will work. TAURUS (April 21 - May 21): Someone you think of as a friend will say something today that annoys you intensely. It may be the case though that they can see things that you cannot, so be open to what they tell you. They could be doing you a very big favor. GEMINI (May 22 - June 21): If you listen too much to other people’s advice today you could end up facing in several directions at once and ultimately getting nowhere. Pay attention to what friends a...
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Why You Should Diversify Your Portfolio Beyond GICs



Guaranteed Investment Certificates (GICs) are a type of fixed-income investment that offer a safe and predictable return on your money. However, they also have several drawbacks that may limit your financial growth and security. Here are some reasons why you should consider diversifying your portfolio beyond GICs:

  • Low returns: GICs typically offer lower interest rates than other investment options, such as stocks, bonds, or mutual funds. This means that your money may not grow as fast as you need it to, especially in times of high inflation or economic uncertainty. You may also miss out on the potential for higher returns from other investments that can benefit from market fluctuations and opportunities.
  • Lack of liquidity: GICs usually have fixed terms, ranging from a few months to several years, during which you cannot access your money without paying a penalty. This can be a problem if you need cash for an emergency or an unexpected expense. You may also lose the opportunity to reinvest your money at a higher rate if interest rates rise during the term of your GIC.
  • Tax inefficiency: GICs generate interest income, which is taxed at your marginal tax rate. This can reduce your net return on investment, especially if you are in a high tax bracket. Other investment options, such as equities, may offer more favourable tax treatment, such as lower capital gains tax or dividend tax credit.
  • Lack of diversification: GICs are a single type of investment that do not offer much variety or flexibility. If you invest all your money in GICs, you may not have a balanced and diversified portfolio that can withstand different market conditions and risks. You may also miss out on the benefits of asset allocation, which is the process of spreading your money across different types of investments to optimize your risk and return.

GICs are not a bad investment option, but they are not the only one. Depending on your financial goals, risk tolerance, and time horizon, you may want to explore other investment options that can offer higher returns, more liquidity, better tax efficiency, and more diversification. A financial advisor can help you create a personalized investment plan that suits your needs and preferences.

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