As alluded to earlier in the thread I know the ins and outs of these accounts. I've had mine running for about 4-5 years now and I doubt I'll ever go back to a traditional mortgage again.
There are good points and bad points here, with one main hurdle being the discipline to work with the account. In our office we have devised a couple of ways to help mitigate that risk; although nothing is fool-proof!
As far as that income generating stocks comment, that strategy is doable...but obviously riskier. I could show you dozens of investments that will provide you a very steady and set income. You can run this into your mortgage and pay it off sooner. The problem to me is that when the market drops (as it has for the past month or so) your income stream is at risk...suddenly what was once covering your mortgage payment is no longer doing so. Its not the end of the world, but still not a feeling that you're likely to embrace!!
If you want to PM me questions or anything like that feel free. Of course I will keep checking this thread if you want me to reply here. I should disclose that I'm a "Manulife guy"...so I do have a bit of a vested interest here and I do earn money on these accounts.
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