Did you know, if you cannot beat them you have to join them? Talking about investments. If you in Rome, do like the Romans. You make a deposit into your bank account, meaning in reality, the bank borrows from you. Your return from them is less than the inflation, so your money’s buying power is diminishing and fast. In the other hand, you borrow the very same money from them for three times the rate you are getting, so they are making huge profit, what they do not share with you, though it is your dough. What do you think who is smart here? Not you it is damn sure. On the other hand, you can do like the Bank (not the Romans) Borrow personal line of credit, equity line of credit, pay 3-4% to the bank and lend it out into safe, capital protected mortgages, earn double digit return (10-16%) beating them at their own game. Also do not forget if you get a line of credit you only pay interest on the portion you use at any given time. To make it more interesting, guess what. The line of credit interest you pay to the bank is TAX deductible. Now this is what I call a double whammy, besides I will call you a smart investor. In case I have got your attention you just visit me on our website and if you like what you see call me to discuss, I will be glad to answer all your questions. Almost forgot, these type of investments are RRSP investments, with added TAX savings ( don’t you just like to cheat on the tax man legally) and you will be able to retire in time to enjoy your golden age with some money in your packet. It called in dignity.
Posted on: Thu, 01 Aug 2013 17:40:29 +0000
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