Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
financial advice
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="DS" data-source="post: 186376" data-attributes="member: 556"><p>I realize that this thread would be more appropriate in the life after brown forum but I need as much advice as I possibly can get so I posted it in here instead.</p><p> </p><p>Ok heres my situation.</p><p> </p><p>I get my income tax done every year by an accountant in my area.Recently he`s been suggesting I make this move....</p><p> </p><p>Take out a loan for $100,000 and leave it in the bank.</p><p><strong><span style="color: sienna">A new loan of $100,000 with a 25 year amortization annual interest rate of 8%. Invest$100,000 return rate of 10%.Monthly loan payment of $666.67 -interest gain $833.33-surplus of $166.66 to help pay the existing loan payment of $0.00</span></strong></p><p> </p><p>Here in Canada the loan payments are tax deductable because this is considered an investment.</p><p>Does this sound too good to be true to be real?</p><p>He told me that since I own a home and have a good credit rating plus the fact that I make over$70,000 a year,puts</p><p>me in the category of people that can take advantage of this.</p><p> </p><p>Any advice? opinions?</p></blockquote><p></p>
[QUOTE="DS, post: 186376, member: 556"] I realize that this thread would be more appropriate in the life after brown forum but I need as much advice as I possibly can get so I posted it in here instead. Ok heres my situation. I get my income tax done every year by an accountant in my area.Recently he`s been suggesting I make this move.... Take out a loan for $100,000 and leave it in the bank. [B][COLOR=sienna]A new loan of $100,000 with a 25 year amortization annual interest rate of 8%. Invest$100,000 return rate of 10%.Monthly loan payment of $666.67 -interest gain $833.33-surplus of $166.66 to help pay the existing loan payment of $0.00[/COLOR][/B] [COLOR=black][/COLOR] Here in Canada the loan payments are tax deductable because this is considered an investment. Does this sound too good to be true to be real? He told me that since I own a home and have a good credit rating plus the fact that I make over$70,000 a year,puts me in the category of people that can take advantage of this. Any advice? opinions? [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
financial advice
Top