Iâ€™m already at month #2 completed with a owing balance of $1700 ($500 first deposit plus two months of contribution at $600 each). I paid a big $3,50 of interest of the first month and the interest for the month of April will be charged on my account.
My investments now worth a big $1705,38. Whoohoo! Five bucks of profit in two months! LOL! Hey, you have to start somewhere donâ€™t you think? Anyway, the Smith Manoeuvre is a long term strategy and it is hard to make profit right away.
As you noticed, Iâ€™m not telling you how much I owe on my full mortgage. The reason is fairly simple. As it is a line of credit, I use it on a regular basis and it fluctuates over time. Iâ€™ll probably post a yearly update of my whole mortgage as the investment sub-accounts is more relevant to this example than anything else.
Hopefully, Iâ€™ll be 10 bucks over next month!
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