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If I want to invest in an account and not touch it for 3 years and have high interest after, which account should I choose?



Our response:

While we aren’t able to provide investment advice, we can provide you with some general information to get started.

Interest is only one type of return you can make on an investment. All investments carry some level of risk, and generally the higher the potential return, the higher the risk. This is called the risk-return relationship. Important considerations when choosing any investment are your time horizon and risk tolerance – how much risk can you handle? Once you answer this question, you can look at investment options for short-term goals or long-term goals.

Regardless of the type of investment you choose, you may consider holding it in a registered or tax-sheltered account, such as a TFSA or RRSP. Read this answer to learn more about how they compare.

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