Some kinds of savings and investments are very safe. There is very little or no risk you will lose money. But your money often grows more slowly. For example, savings in a bank account may grow only two or three percent yearly.
Other kinds of investments are higher risk. They may grow your money faster — but only if the investment works out. Just remember you could also lose money if it doesn’t. And you don’t know for sure how it will turn out.
Lower risk investments include:
Guaranteed Investment Certificates (GICs)
Canada Savings Bonds
Higher risk investments include:
Exchange-Traded Funds (ETFs)