All my accounts transfered to Welathsimple this week. I decided now was the time to take out a PLOC. My cost of borrowing is 4.45% for now, (I hope to get that to 3.95% very soon). My net cost of borrowing after taxes will be 2.25%. I had wanted to invest the PLOC in 70% $XEQT 30% $FINN. For tax reasons I went with 70% $XEQT 30% $QQC Both these ETF's will rebalance themselves and will never need to be touched. My gross cost of borrowing is 225 per month. My net cost of borrowing after taxes is 122 per month. Ill also be recieving a $430 a month bonus 3% match paynent from Wealthsimple for the next 24 months. I would of liked to have set this up at the start of the year and not with the markets at an all time high but this is an investment for the very long hall bar a 1980's style return to ridiculous intrest rates. 😃
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19 Comments
Alessandro @alessandro.invests · 12d
Nice man I did the same and took the Ploc to invest in $XEQT
DarkOctober @darkoctober · 12d
It's what I'm doing too essentially. I wait for little dips and take a bit of my ploc out to invest.
Catherine @ffcatherine · 11d
Those look like very favorable rates… I’ll be watching your progress as I hesitate but am tempted to do something similar (just not decided yet) ..
J @johnnyboy111 · 12d
What is the purpose of going with the PLOC over just simply using margin?
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