Myth #4: Financial security is having your Canadian home mortgage paid off
True financial security comes from having adequate liquid assets in a safe environment to cover any liabilities and generate positive cash flow to
cover living expenses indefinitely.
Liquidity offers choices.
Liquidity offers options.
Liquidity offers peace of mind.
Always ask yourself this: If I place my money here, will my assets be:
a. Locked-In? — In other words, is my cash safe and protected from risk of loss? Will I never lose principal?
b. Accessible? — Are my funds easy to reach? Can I get to my money quickly and without penalty?
c. Working? — Does this investment vehicle keep my assets employed and earning a respectable compounding return?
Any sound, sensible investment financial vehicle should receive YES answers and pass each of these tests.
Always ask these questions before making any investment decisions and you’ll move closer to creating real wealth for yourself and your family.
As an “aside”, something I call “where’s your store of value”?
As mentioned earlier, most Canadians have 2/3rds of their “net worth” are tied up in their homes.
What shape would they be in if their home burned to the ground? It does happen you know!
Or if it were to slide down the slope of a mountain as some did here in North Vancouver a couple of years ago…
Nasty things can – and do – happen to our investments – our “store of value” if you will…
Now, your single biggest asset, your “store of value” can become worthless overnight!
And even having touched on these issues, millions of Canadians continue to pay off their mortgages as soon as possible to then: live under
the poverty line yet have homes that are paid off!
Canadians! When it comes to your mortgage…
Are you tired of being on the mortgage ‘hamster wheel’?
Are you sick of being ‘house rich & cash poor’?
Are you frustrated with your banks ‘mortgage solution’?
Are you open to new ideas?
Then join the quiet Canadian revolution today!
‘The UnCanadian Way To Get Rid Of Your Mortgage & Create Wealth’
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Packed with solid, actionable advice, this book eliminates the fluff so prevalent in normal finance books and clearly explains the steps the wealthy use to build up their portfolios.
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Curious but still on the fence?
Get our FREE report: ‘Top 10 Myths of Canadian Home Ownership – Exposed!
http://bit.ly/Top10CanadianMortgageMyths (direct download to your digital device – 36pg pdf)
“For years, I was the guy that thought paying off your mortgage & maxing out my RRSPs were the top priorities.
Now that I really look at it, I couldn’t have been more wrong…” Kelly, Edmonton, Alberta
Video Index of 10 Top Myths of Canadian Home Ownership – Revealed!