An Animated Guide to Investing and How to Pay Off Your Home Loan.
It’s all about becoming rich.
On the way to becoming financially strong the first necessary steps we take with you are:
1. Getting rid of non tax-deductible debt i.e. home loans, credit cards, all personal (non investment) loans FOREVER.
2. Plan to decrease and possibly eliminate all the tax you pay. Then you can really start to fly financially.
3. Increase the “motor” that runs your “empire”. Most people’s financial motor is just their pay packet. If you can find ways to make most of your income from other passive sources you get stronger. It’s more difficult to get rich with only a small motor.
The system involves the:
1. Use of tax deductible debt to own assets such as real estate, businesses and other long term income producing assets.
2. Its buy never sell (bns). If you ever choose to sell an asset, you then have to decide where to put the money – probably back where it came from i.e. real estate or other investments. If you sell you also run the risk of having to pay tax on the profit. So just keep it.
3. The best way not to ever miss a real estate or investment boom is to always own income producing growth assets. If you get out of the market for even short periods, you can miss large gains.
4. For investments, you should always borrow the full amount including fees to get the largest tax deduction. Never put in a deposit because any money is best paid off non-tax deductible debts like credit cards, personal loans, your home loan.
5. Tax deductible debt i.e. investment loans are OK. Rupert Murdoch has a lot of them. Tax deductible debt is easy to handle. However, non-deductible debt like home loans “steal” money off you and your family. Its harmful to let it sit with you year after year. Its financially ruining.We get rid of any non deductible debt first.
6.Our most important part of the system is the dramatic increasing of your passive income. Many of our wage earner clients have passive incomes of over ,000 per month.
7. This leads to some of our clients being able to pay off properties in 1 to 2 years.
8. Our System is to get rid of the loans as we go. Capital gains are just an extra bonus.
You should never work overtime or get a second job; you get rich by certain techniques, not by working overtime.