This video is probably more relevant to those who have already implemented the Smith Manoeuvre or are considering implementing it. 🙂 I wanted to share a behind-the-scenes look at how I do it in practice. My Smith Manoeuvre portfolio is now worth over $246,000 after nearly five years, and in this video, I walk through the step-by-step process of borrowing from my Scotiabank HELOC, transferring the funds to Wealthsimple, and using the money to buy more shares of XEQT in my non-registered investment account. I also share a few lessons I've learned along the way, including why I leave some available credit as a buffer for interest charges, how I keep track of transactions for tax documentation, and the differences I've noticed between using Wealthsimple and Questrade for the Smith Manoeuvre. ⚠️ This video shares my personal experience and is for educational purposes only, not financial advice. Borrowing to invest involves risk, including the possibility of investment losses, rising interest rates, and owing more than your investments are worth. Tax deductibility depends on your specific circumstances and applicable CRA rules. Do your own research and consider consulting a qualified professional before implementing a similar strategy. 💬 For those who have implemented the Smith Manoeuvre or are considering it, what's your biggest question about the process?** https://youtu.be/i_Somn5JrjQ
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17 Comments
Shane Reigo
@Shane · 20hEdited
@moementumfinance would you be able to Illustrate the profit you have made in the market with xeqt after paying the bank back their principal and interest for HELOC or estimated profit
Ryan @ryan10937253 · 20h
Thanks for sharing Moe. Can you share step by step how you handle ROC? I’m just learning SM and personally think most steps are fairly easy once you’ve done research and mastered the steps. ROC is something else, also do you auto DRIP or you keep it turned off let cash hit your account then manually buy? Do you leave back some money towards ROC or use up all the distribution.
AP
@ap4310 · 20h
How long does it take to increase credit limit of HELOC after regular mortgage payment?
S
@100kupdate · 5h
excited to watch this! im using LOC to invest as well and was curious on how you track the i terest expenses to write off
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