Sometimes we wonder how do the international bankers to make their money grow. Well, they have more tricks up their sleeves. Among these towers, there is the knowledge of interest rates paid to customers of savings accounts, in different countries. To find one, just look at how central banks require, in interest, for the money they lend. For example, here are the rates prevailing in various central banks
* Bank of Canada, 0.75%
* Bank of England, 0.5%
* European Central Bank, 1%
* U.S. Federal Reserve 0.25%
* Swiss National Bank, 0.25%
* Bank of Japan, 0.1%
It is fairly low and therefore it implies that because "the rent on money" is so affordable rates of interest charged for loans and mortgages are very affordable in these countries. Consequently, the interest rates paid in the savings accounts are also very low or anemic (as 0.4% for the Savings Bank Project National, 0.75% for term savings [1 year] Desjardins and 1.5% for the Investment Savings Account from ING Direct).
Let's face it IMPOSSIBLE to get rich with interest rates as low as the rate of inflation cancels any gains in interest an investor would have accumulated. For example, the inflation rate was 1.6% in July 2010 in Canada - more than the best savings account to the country (that of ING Direct, in this case).
So how can a Canadian investor can make money grow beyond a small 1.5% annual interest?
Must COPY the international bankers and invest [part of] its funds abroad. It is not necessary to go into tax havens to improve his lot. Oh! Not! Just interested in the savings accounts offered by banks operating in the following countries (rates shown are those made by central banks of each country):
* Bank of Canada, 0.75%
* Bank of England, 0.5%
* European Central Bank, 1%
* U.S. Federal Reserve 0.25%
* Swiss National Bank, 0.25%
* Bank of Japan, 0.1%
It is fairly low and therefore it implies that because "the rent on money" is so affordable rates of interest charged for loans and mortgages are very affordable in these countries. Consequently, the interest rates paid in the savings accounts are also very low or anemic (as 0.4% for the Savings Bank Project National, 0.75% for term savings [1 year] Desjardins and 1.5% for the Investment Savings Account from ING Direct).
Let's face it IMPOSSIBLE to get rich with interest rates as low as the rate of inflation cancels any gains in interest an investor would have accumulated. For example, the inflation rate was 1.6% in July 2010 in Canada - more than the best savings account to the country (that of ING Direct, in this case).
So how can a Canadian investor can make money grow beyond a small 1.5% annual interest?
Must COPY the international bankers and invest [part of] its funds abroad. It is not necessary to go into tax havens to improve his lot. Oh! Not! Just interested in the savings accounts offered by banks operating in the following countries (rates shown are those made by central banks of each country):