That’s her showing you that you should enjoy your time left on this planet.
Love seeing your updates and stay safe out there. Enjoy the views, people, and food along your travels.
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Love seeing your updates and stay safe out there. Enjoy the views, people, and food along your travels.
Another crypto exchange collapse. They suspect much of the deposited money will be gone. It was "FDIC insured". Nobody should be keeping crypto in exchanges. They have a terrible track record of stealing your money. On this one they've even dropped the wall around your cash holdings. They say you'll get them back at some point but for now they are inaccessible.
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Mikedezo44
Well-known member
Anyone play around with buying/selling currency? I thought about buying 10k worth of Euro's as the exchange rate is the best it's been in a while at 1.3....Think it'll be back to 1.5-1.6 in the coming future? I know not huge profit margin but might be an easy way to make 1000 bucks.
Transaction costs are normally high (percentage of money instead of flat $10 for securities trade). I had an account offshore for a while where I could hold/trade currency. It was up to me to report any returns to government. I never traded in it, I just used it for cheap conversion.
IMO ... Too speculative, doesn't pay a dividend, and for the most part, foreseeable profits are too small to be worth the risks and transaction costs for small players to get involved. There is also no telling how long the Russia-Ukraine situation will go on. Even if the outcome ends up the way most people would like, the enormous recovery costs will probably be a drag on the European economy for a decade or two. It's going to keep lots of people employed ... but at government expense.
Ooof. As expected, HELOC interest jumped when promo rate expired July 8. July interest was almost double June interest. I'll leave the investments in place for now but if BOC keeps this up I may have to unwind some positions as it makes no sense unless I am making a lot more than I am paying in interest.
Tangerine is again offering 30k loc at 1.99% for 90 days pre-approved. I'll probably pull it to pay part of heloc for 90 days and save some interest. In 90 days, use heloc to pay off tangerine as I assume the rate will be better.
EDIT:
Easy. Verify address and agree to credit check and the money is available immediately. Online transfers limited to 25K, call them and they can process more over the phone. Done. No easy way to transfer directly to HELOC so need to go through a checking account, wait for it to clear (which is stupid on a bank to bank transfer with all accounts in my name) and then move it to HELOC. I can move 10k as soon as it hits my account but the rest needs to clear.
Rate after 90 days is 5.95. Don't plan on paying that rate so it doesn't really matter.
EDIT:
Easy. Verify address and agree to credit check and the money is available immediately. Online transfers limited to 25K, call them and they can process more over the phone. Done. No easy way to transfer directly to HELOC so need to go through a checking account, wait for it to clear (which is stupid on a bank to bank transfer with all accounts in my name) and then move it to HELOC. I can move 10k as soon as it hits my account but the rest needs to clear.
Rate after 90 days is 5.95. Don't plan on paying that rate so it doesn't really matter.
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Hell I want that rate!
Everyone that had fun with a HELOC is getting a rude awakening, there are getting to be some porche and Mercedes on auto trader .
My mortgage broker pal was telling me the number of clients that now have a mortgage higher than what they paid for the house 10-15yrs ago is alarming. Hey my 500k house is now 1m! Let’s put in a pool , and use our 400k loc to top up the RRSP s since they are paying 8% and the loc is 1.8. Holy back flip Batman !
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My mortgage broker pal was telling me the number of clients that now have a mortgage higher than what they paid for the house 10-15yrs ago is alarming. Hey my 500k house is now 1m! Let’s put in a pool , and use our 400k loc to top up the RRSP s since they are paying 8% and the loc is 1.8. Holy back flip Batman !
Sent from my iPhone using GTAMotorcycle.com
I wouldnt use heloc for depreciating assets. The money I pulled to invest could be unwound in a few days if necessary to clear the heloc and leave me in the green. I'm not planning on doing that yet but as rates continue to rise, investment risk remains while net return drops. Teaser rates to try to get you on the loc spiral keep the borrow to invest scheme viable for a while longer.
hahaha I was planning on doing that also! Got that sweet 200k HELOC just sitting there tempting me.
glad I didn't start the reno we planned...at 2.3% the payment would be $700 just for interest...at today's rates...probably $1000-1200.
RRSP loan can work if refund pays off at least most of loan. If you are perpetually borrowing to invest in RRSP and never paying it off, things will not end well.
I'm thinking another rate hike around December. So January will be a decent time to start buying
I plan on getting some 5 year GICs around December too just trying to see what kind of rates I can get
Sent from the future
Last week. I went from .4% to 4.5%. Very happy.
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