What is the best way to gain interst on a large sum of money right now?
I have a huge sum of money to invest. I’ve looked at GICs, savings accounts, Federal Bonds, T-Bills, Provincial Bonds, etc… None of the interest rates satisfy me. I want to invest the money long term, and am not afraid of losing access to my money. I don’t wanna play around in the stock market, unless it’s a sure thing (which it almost never is). By the way, the interest rates I’m not satisfied with are around 0.5%-1.85%. I really would like something from 2%-3% or higher. And I live in Canada.
Will interest rates get better after Obama’s inauguration? Are low interest rates just a product (or lack thereof) of the recession in the states? How does this effect me, a Canadian (Quebec, specifically)?
Also, I’ve put a lot of thought into a continuous savings plan, but I’m not completely sold on it. There has to be some sort of catch. It seems too easy.
This question is in the General Section. Responses must be helpful and on-topic.