Myth #6: All debt is bad
The real question to ask yourself is: “Is your debt working for you?”
A certain type of debt, when managed wisely, can be desirable!
It is important to make the distinction between bad and good debt.
“Bad debt” is not tax deductible (a home mortgage).
“Good debt” is tax deductible (Borrowing for investment purposes).
So the question you now must ask is this: “How can I get more “good debt” working for me?”
Also ask yourself this: Are you borrowing to conserve or consume?
Are you managing assets or managing your debt?
You must learn the distinctions and begin to manage the equity in your home to be truly successful.
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’
It’s waiting for you at
http://Book.HowToGetRidOfYourMortgage.com
“I purchased Mark’s book “The UnCanadian Way To Get Rid Of Your Mortgage And Create Wealth” spontaneously after visiting his site. (
http://book.howtogetridofyourmortgage.com/ )
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.
It provides evidence debunking the way most Canadians deal with their finances and more importantly shows the path forward.
Mark himself is approachable, experienced and genuinely willing to help Canadians be more strategic and successful in how they manage their
mortgages, wealth and debt.
I consider this ebook an investment and one of the best impulse purchases I have made!”
JW, Barrie, ON
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!
Myth #1 Big down payment & extra principal payments
Myth #2 Your Canadian home equity has a rate of return
Myth #3 The equity in your home enhances your net worth
Myth #4 Financial security is having your house paid off
Myth #5 Once house paid off, max. RRSPs (or borrow for)
Myth #7 Canadian mortgage interest-an expense to be eliminated ASAP
Myth #8 Borrowing then investing holds no potential growth returns
Myth #9 I can do much better in real estate than the stock market
Myth #10 Only lucky people with money taking high risks get wealthy