Comments on: Live Smith Manoeuvre Example, June Update http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/ This is where your finance takes place Tue, 16 Mar 2010 07:15:03 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Mikael http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-108 Mikael Wed, 06 Jun 2007 11:13:52 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-108 it is ! but keep in mind that the prescribed rate is now 5%, which means that 1% counts as a taxable benefit. Anyhow, with that rate, it is worth leveraging ! FB. it is ! but keep in mind that the prescribed rate is now 5%, which means that 1% counts as a taxable benefit. Anyhow, with that rate, it is worth leveraging !
FB.

]]> By: FourPillars http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-107 FourPillars Wed, 06 Jun 2007 03:53:32 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-107 Prime - 2!! That's a pretty good discount! Prime – 2!! That’s a pretty good discount!

]]> By: Mikael http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-106 Mikael Wed, 06 Jun 2007 02:28:03 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-106 MDJ, I do have my checking account at NBC. Depending on how you want to setup your payment, you might switch over to BMO completely. If you are making a monthly payment, it won't make a difference. However, you can have more than 1 pmt a month taken for your line of credit. You have to do it the reverse way (from your bank account to your HELOC instead of the HELOC taking a pmt intor your bank account).I pay my HELOC on a weekly basis in order to pay less interest and add up 2 additional payment over the year. However, you need a bank account that allow you to send more than one pmt into your HELOC. Another option is to use one sub-account as a regular checking account. Many people do so as it is very practical. FP, I don't have a mortgage, it is just a big line of credit split between several sub accounts. Everything is at Prime - 2 as I am an employee. Cheers, FB. MDJ,
I do have my checking account at NBC. Depending on how you want to setup your payment, you might switch over to BMO completely. If you are making a monthly payment, it won’t make a difference. However, you can have more than 1 pmt a month taken for your line of credit. You have to do it the reverse way (from your bank account to your HELOC instead of the HELOC taking a pmt intor your bank account).I pay my HELOC on a weekly basis in order to pay less interest and add up 2 additional payment over the year. However, you need a bank account that allow you to send more than one pmt into your HELOC. Another option is to use one sub-account as a regular checking account. Many people do so as it is very practical.

FP, I don’t have a mortgage, it is just a big line of credit split between several sub accounts. Everything is at Prime – 2 as I am an employee.

Cheers,
FB.

]]> By: FourPillars http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-105 FourPillars Tue, 05 Jun 2007 18:25:19 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-105 FB - what interest rate do you have on the mortgage? or is it at prime as well? FB – what interest rate do you have on the mortgage? or is it at prime as well?

]]> By: MillionDollarJourney.com http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-104 MillionDollarJourney.com Tue, 05 Jun 2007 16:56:51 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-104 Do you have your regular chequing account with National Bank also? I'm looking at using BMO's readiline mortgage, but it may be a pain where I use CIBC for my main banking needs. Do you have your regular chequing account with National Bank also? I’m looking at using BMO’s readiline mortgage, but it may be a pain where I use CIBC for my main banking needs.

]]> By: Mikael http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-103 Mikael Tue, 05 Jun 2007 15:54:11 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-103 Hi FP, The NA dividend fund dropped during this month (I was + $5,38 and now I’m losing about $3). I also have to count the fact that I paid a little bit more than $7 in interest for the past 2 months. Those are obviously not big number as I just started my Smith Manoeuvre. It will probably become more significant over time. Hi MDJ, I use National Bank’s all-in-one. You have the possibility to open more than one sub-account and they can have flexible limit. Therefore, I’m making my mortgage payment in account #1 and take money to invest from account #2. Both limits fluctuate automatically with withdrawals and deposits. It is definitely a great product to use a Smith Manoeuvre. Cheers, FB. Hi FP,
The NA dividend fund dropped during this month (I was + $5,38 and now I’m losing about $3). I also have to count the fact that I paid a little bit more than $7 in interest for the past 2 months. Those are obviously not big number as I just started my Smith Manoeuvre. It will probably become more significant over time.

Hi MDJ,
I use National Bank’s all-in-one. You have the possibility to open more than one sub-account and they can have flexible limit. Therefore, I’m making my mortgage payment in account #1 and take money to invest from account #2. Both limits fluctuate automatically with withdrawals and deposits. It is definitely a great product to use a Smith Manoeuvre.

Cheers,

FB.

]]> By: MillionDollarJourney.com http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-102 MillionDollarJourney.com Tue, 05 Jun 2007 13:16:34 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-102 Which mortgage product do you use with the SM? Which mortgage product do you use with the SM?

]]> By: FourPillars http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/comment-page-1/#comment-101 FourPillars Tue, 05 Jun 2007 11:34:43 +0000 http://www.thefinancialblogger.com/live-smith-manoeuvre-example-june-update/#comment-101 You mention that it was a bad month...why was it bad? Maybe you should put the investment return if that's what you were referring too? You mention that it was a bad month…why was it bad? Maybe you should put the investment return if that’s what you were referring too?

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