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  1. #21
    Member awndray's Avatar
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    Quote Originally Posted by Swampdonkey View Post
    Use your TFSAs to pull a Smith Maneuver. Double or Nothing!

    Inflation increases home equity to allow it.
    I'd have to know what they even means. I am to investing as the Liberals are to making Canada a prosperous and free country.

  2. #22
    Senior Member M1917 Enfield's Avatar
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    Quote Originally Posted by blacksmithden View Post
    Actually, the banks were giving slightly better rates than prime according to several sources I've referenced. A variable open mortgage in 1981 was going for 19.20% and a 5 year fixed was 18.13%. I know the popular number you hear is 28%, but I just don't see it referenced anywhere. I honestly don't remember what it was. I just remember everybody was screaming about it and people were walking away from their houses. I wasn't even in high school when it peaked. The "average" mortgage number the banks were charging general folks was 18.45% from what I've seen. In the US, it got to 18.63%, so not far off what it was here.
    I bought my first property while still in the Army, 160 acres with a credit union secured variable loan in 1984 at 22%, I still own that property too. I then paid it off within 5 years (helps to live on the barracks and eat at the mess) and then used it as security to finance about 5 rental homes I owned over the years.
    Warning! some sarcasm, facetious and jovial behavior, satire, irony, dry humor, playful banter and more may or may not be involved in my postings. Please read anything I have written as being said in the most joyful and happy voice you can imagine.

    To whom it may concern: I hereby declare I am not responsible for the debts incurred by one Justin Trudeau!

  3. The Following User Liked This Post By M1917 Enfield

    Swampdonkey (01-14-2022)

  4. #23
    Senior Member M1917 Enfield's Avatar
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    Quote Originally Posted by awndray View Post
    I'd have to know what they even means. I am to investing as the Liberals are to making Canada a prosperous and free country.
    The Smith Maneuver is a legal tax strategy that effectively makes interest on a residential mortgage tax-deductible in Canada. As a financial planning strategy, the Smith Maneuver involves converting the interest a homeowner pays on their mortgage into tax-deductible investment loan interest.

    If you're wondering if the juice is worth the squeeze – just understand that while properly implementing the Smith Manoeuvre does require a little bit of reading, it can save you thousands of dollars per year in taxes, as well as supercharge your long-term investment returns.

    How do you set up the Smith Manoeuvre?

    Sign up for a readvanceable mortgage.
    Make your regular mortgage payments.
    Borrow the additional HELOC space.

    When filing your taxes, claim a tax deduction for the HELOC interest used for borrowing to invest to receive a bigger tax refund.
    Warning! some sarcasm, facetious and jovial behavior, satire, irony, dry humor, playful banter and more may or may not be involved in my postings. Please read anything I have written as being said in the most joyful and happy voice you can imagine.

    To whom it may concern: I hereby declare I am not responsible for the debts incurred by one Justin Trudeau!

  5. #24
    Member awndray's Avatar
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    That all sounds great, for those who have the risk tolerance, the understanding, and a good rate of return.

  6. #25
    One Mile Mentor tigrr's Avatar
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    The great reset, 60% of you will own nothing and love it.
    They got the jab didn't they. Fear them into owning nothing.
    The challenge of retirement is how to spend time without spending money.
    There is no place in an anti's head where reason can enter. from a Napoleon saying with a tweak.
    Look around is there someone you can introduce to shooting because thatís the only way we will buck the anti gun trend sweeping Canada! "tigrr 2006"

  7. #26
    Senior Member M1917 Enfield's Avatar
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    Quote Originally Posted by tigrr View Post
    The great reset, 60% of you will own nothing and love it.
    They got the jab didn't they. Fear them into owning nothing.
    What the political elite mean is 99% of the population, basically all the gullible sheeple serf's and peons will own nothing and be totally dependant on big government and will be happy about it, or else!

    Somebody will still own all the stuff they need or want and will just rent it too them at forever increasing costs, as they have a now captive market without any other free market options.
    Warning! some sarcasm, facetious and jovial behavior, satire, irony, dry humor, playful banter and more may or may not be involved in my postings. Please read anything I have written as being said in the most joyful and happy voice you can imagine.

    To whom it may concern: I hereby declare I am not responsible for the debts incurred by one Justin Trudeau!

  8. #27
    Senior Member Purdom234's Avatar
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    Just read Peterson's piece this morning. Good but not as direct as he can be. I liked this part: "There are no risk-free paths forward. There is only one risk, or another"

  9. #28
    Member awndray's Avatar
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    For those who don't like reading, Jordan reads his column.


  10. #29
    Senior Member CLW .45's Avatar
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    The intention is to wreck the economy.

    The COVIDIOCY has been, to date, the most effective tool for doing so.

    Recognition of that fact is even lower than recognition of the civil disarmament agenda, also pushed by the usual suspects.
    Gun Control is about making it unlawful for you to use, carry, or possess a firearm.

    All restrictions/prohibitions on the use, carriage, or possession of firearms must be repealed.

    Middle ground?

    What middle ground?

  11. The Following 3 Users Like This Post By CLW .45

    Billythreefeathers (01-14-2022), stewbud (01-14-2022), Swampdonkey (01-14-2022)

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