Hello to all, I wanted to share some information that I deal with everyday that I am not sure if Canadian homeowner’s are aware of. This is aside from the business perspective but still tied into it because we are all here to make money but also save money in the long run. A lot of financial institutions offer what is called a “total equity plan mortgage” or some name close resembling that. The concept of this type of mortgage is that you can take the equity that you have built in your house (up to 75% of your home’s total worth) and after paying some of it off with your hard earned money you can borrow some more on a line of credit. What? You are probably asking yourself. Why would I want to take on more debt? This is smart debt to take on, if one can do it.
There is a trick to this logic, when borrowing on the equity of your home; you are only required to pay back interest only. The trick is to have your money invested earning between 10 to 12%; on good years up to 18% and build your nest egg. The interest you are paying because you are a Canadian citizen is fully tax deductible if it is used for investment purposes only as per Revenue Canada guidelines on schedule 4 of a T1 general.
With this type of a plan you can finally earn equal to what the bank earns off of borrowing your money and reinvesting it, while it is sitting in your cozy, high paying 0.2% savings account. This is one of the many tricks that banks never tell you about that over time are savings that could have resulted in much larger nest egg, in addition to the money refunded in your pocket at year’s end by Revenue Canada as per the interest deduction mentioned above.
Quite simply the entire 10 minute video is an inspiration and reveals the reason why whatever the mind can conceive it can acheive. This is more than all the inspiration one will ever need. For indeed it demonstrates why great human beings become and are reveared for who they are. There are too many to name but there are thousands on this list. Simply one of the most powerful and inspirational videos of all time!
Hello to all, I wanted to extend my wishes of a merry christmas and a happy new year to everyone. It has been a prosperous year with an even better one to come! I wanted to share some of my insights from 2008 with all my readers in the hopes of sharing some positive stories and feedback, because the media just isn’t cutting it lately. They obssessively seem to be stuck in doom and gloom land which I will not give credit to or pay attention to.
2008 was an awesome year for Golioth Enterprises, it confirmed what I always knew to be true. Like a scene out of “Field of Dreams” I had the notion to build Golioth Enterprises as if a voice in the quiteness of my mind was saying if you build they will come… sound familiar? So I did, I designed websites, blogs, database templates and built networks of pepole across the web who were interested in the same thing I was interested in… What was it? Business/Tax Planning for Eco-friendly businesses! So the word spread and I stuck to my orginal intention of assisting as many people and businesses to propser in 2008; and so they did. My intention as I have always stated in my blogs was to assist the many (everyone I can) and not the few (myself) and my true passion came to life more than it ever has. To my self this is a Christmas Gift that no other gifts can compare to, because it reaffirms and gives purpose to my passion and essence.
So with this being said all I can say is: Merry Christmas to you and yours and have an abundant & joyful 2009. May it be the best year of our lives yet to come. Live in love, health, wealth and prosperity.
This is my WordPress page. Allow me to introduce my self, my name is Saverio Filippis. I am interested in reaching out and assisting people in the ways of business planning and communication; that are looking to create a planet made for sustainable living. This is very important to me as ... Continue reading »
You are probably asking yourself. Why would I want to take on more debt? This is smart debt to take on, if one can do it.
