Building Wealth and Preparing for Retirement
Douglas - Toronto Ontario Region
In his early 60s, Douglas was having trouble making ends meet on his small income. He wanted to build wealth while earning more each month. Since he owned a house that was fully paid for, his Paladin Mentor suggested that Doug make better use some of that ‘sleeping equity' by taking out a mortgage for half the value of his house and investing it responsibly. We helped him to find a low-interest mortgage for $300,000 and put that money into a low-risk equity fund that pays him an average of 10% interest. Since the interest comes from an investment, he is able to write it off. As a result, Douglas has boosted his income by $2,000 per month after mortgage payments.<< previous success story next success story >>