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Originally Posted by Red
So what are you saying? You just started this investing? Isn't it a bit premature to preach about it?
I am not disputing the fact that investing is good. I do it myself. I am just saying that borrowing to spend on customer goods or buying RRSPs are not the way to go.
"That's a fact". Actually, it's about as far from fact as you can get.
I read a study a while back about people that invested borrowed money. Those were regular people, not investors/businesses etc. Most withdrew the money at first site of losses. They were then reluctant to invest again. It's human nature. Can't argue with that.
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So your advice is 'what you're doing is wrong'. Where are your alternatives? Where are the counter-points? I'm having a hard time figuring out what you're doing in this thread.
Do you have advice on how/where to invest? Points to make about HE-LOC vs. Mortgage? Tax/Accounting issues? Specific reasons as to why RRSP's are a mistake (beyond badly mistaking your one 'fact' on RRSP returns)? Otherwise, thanks for nothing. This thread is mostly about trying to get people to contribute knowledge, if you've got any share it, if not... well, this seems to be where you are right now.