The Canada Savings Bonds (CSB) program was aimed at helping Canadians save money, mainly through payroll deductions. The Canada Savings Bonds program has been discontinued and as bonds matured they are being cashed out and sent to the bond holder. If you are affected you will receive a letter to inform you how to redeem your funds.
What to do with Matured Canada Savings Bonds?
Its simple, re-invest the funds you receive. The fact is that Canada Savings Bonds paid little to no interest and were taxable for those who did not invest the bonds within a tax preferred vehicle such as their RRSP or TFSA. In the end you saved money but didn’t grow it and in fact may have lost purchasing power due to inflation. While you cant change the past, you can change how you save your money in the future.
You probably haven’t look at alternatives to the CSB, now’s your chance to do just that. We have many investment alternatives to the CSB Program for you, which will meet your needs now and in the future. Keep your savings safe by investing it in bonds or grow your money by investing it in the market.
The best part is a Certified Financial Planner will guide you to making the best investment decisions. Give us a call today to discuss how best to utilize the funds you received from your Canada Savings Bonds.