Making Your Mortgage Work For You: The Smith Maneuver

re: Making Your Mortgage Work For You: The Smith Maneuver

falconaire@sympatico.ca: Sandor — Mon, 18 Jun 2007 21:51:08 GMT

Dear Michael,

I am afraid, you didn't quite grasped the concept, nor the mechanics of the Smith Manoeuvre.

That by itself is a forgivable offence, after all, you may decide against it as you please. However, as countless examples prove, this strategy not only works beautifully, but provides substancial retirement investments to countless families, who otherwise would be completely unable to save for their retirements.

In fact, I am willing to risk guessing that you have only second-hand information about this strategy and what is more, your tax and investment understanding is also a bit shaky.

I don't know whether you own a house or not, but if you do and if you pay mortgage monthly, the greatest favour you could to yourself would be to get the book, or get expert adwise and then embark on the SM. It will do wonders for your personal finances: more cash flow, less taxes, more investments and most of all, your house will be paid off many years sooner than it would be otherwise.

Sandor

re: Making Your Mortgage Work For You: The Smith Maneuver

Michael — Mon, 18 Jun 2007 23:34:42 GMT

Even the experts on tax and finances are mixed on their review of this strategy. Book reviews point out that the book itself doesn't dwell on the pitfalls of the Smith Maneuver. So while it may sound good, it's still investing in the stock market, and this entails risk.

You have to be able to ride the ups and downs of the market, without panicking and without risking your home.

Since this is the stock market, some will do well; some will not. Depending on the quality of the investment advice, you could end up ahead or behind. After all, if putting your money into the stock market was a sure thing, there would be a lot more well-to-do investors than there are.

Making Your Mortgage Work For You: RRSP and Your Mortgage

Mortgage Guide 101 Blog — Wed, 20 Jun 2007 18:06:07 GMT

Here's a way to help out your retirement savings, and make sure that your home mortgage works for you: