RBC = rubbish
Took my 4yo to the bank to get into the concept of saving.
So the deal was no charges, a little paying in book that doesn't even have name on, we declined the bank card......
After handing over our cash we got $5 bonus. Then I asked about the interest...........
wait for it
0.1%
Current inflation rate 3.5%,
So in 10 years of diligent saving the $50 will be worth $35.
Great.
They refused to handle our pot of change unless we 'rolled it ourselves', note to RBC we don't freaking roll. You buy a freaking coin counter or stop being tight and let us use yours..
Go roll your coins......is this a Canadian hobby?
Apparently Loblaws has a coin counter....great we'll just mosey on down to Loblaws, and while we're there we may as well invest our money in propane or food or something that will be worth more in a few years..
Crap.
I looked on the Canada govt web page and they have some bond things that are also rubbish
premium bonds 10 yr bonds that pay less than inflation, canada savings bonds, similarly bad.
This is half decent but not many 4y0 have 500$ saved up..
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