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  • How to make your mortgage tax deductible

     

    TAX DEDUCTIBLE MORTGAGE

     

     

     

    1. The objective

    Your debt, your mortgage, is paid for with your after tax dollars, and generates no deductible interest. The task at hand is to learn how to do what the wealthy do –convert the mortgage loan from bad debt with non deductible interest to good debt where the interest is tax deductible.

    The ultimate objective being to increase your net worth.

       

    1. How does it work?

     

      1. Sell all existing non registered assets, such as GIC’s Canada Savings bonds, savings accounts etc and use the money to pay down your existing mortgage.
      2. Obtain a readvanceable mortgage. This is a mortgage that has 2 entities, the home equity line of credit and the regular mortgage. Nothing unique about this setup EXCEPT that as you pay down the mortgage, the credit limit on the HELOC increases. This is a key feature that is needed when implementing this method. Note that you usually require at least 20% equity /down payment before you can obtain a readvanceable mortgage. Some financial institutions that offer these mortgages are;

     

    RBC-The Homeline Mortgage

    Firstline-The Matrix Mortgage

    Manulife- Manulife ONE Mortgage

    BMO-Readiline Mortgage

     

                3.  Use the HELOC portion of your mortgage to invest in income producing

                     Entities like dividend paying stocks or rental properties. With every            

                     Mortgage payment, your HELOC limit increases. So with every regular

                     Mortgage payment, you will invest the new money in your HELOC.

     

                4.  When tax season hits, deduct the annual amount of interest that you paid

                            On your HELOC against income.

     

                      5. Apply the tax return and investment income (dividends etc) against your

                          Non-deductible mortgage and invest the new money that’s now in your

                          HELOC.

     

                      6. Repeat steps 3-5 until your non-deductible mortgage is paid off.

                   

                      7. This system requires no additional cash flow. The interest on the tax

                          Deductible loan can be either capitalized or come from a reduction of the

                          Principle reduction of the non deductible mortgage.

     

    As you can see, this process will pay down your regular mortgage in a hurry, as well as building an investment portfolio and increasing your overall NET WORTH

     

         

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  • Do you want to see Him

    I wish I could tell you that I have led a flawless life and developed a spotless character, that 'there's no problem here Jack', alas it wouldn't be true. 

    Jesus would say;

    "Blessed are the pure in heart, for they shall see God"

    Do you want to see him? This blessing belongs not to those who believe they are strangers to evil,but to those who face their weaknesses and are purified in the process.

    We know the struggles we have with our motivations, actions, words, deeds. We know it even when those around us don't, when we hide the real me. We can see God when we can see ourselves, when stumbling blocks in ourselves that we would like to deny or disguise or pretend they are not there, do not shade our eyes.

    The sight of God is delivered to those who refuse to be blinded by their own conflicts, with eyes that sprout wrinkles from looking steadily toward the truth.

     

     

     

     

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  • Mercy

    Well life moved on, we started having children, and like all couples there were some bumps in the road. Lets face it every one of us from time to time needs a touch of Mercy and Grace. We mess things up with our relationships, we make mistakes and do things and say things we regret. But how wonderful and healing it is when the one we hurt forgives us it's alright I understand.

     

    Mercy challenges us in a world that has grown cynical about its possibilities. Mercy if fine, but power settles issues. You see mercy is the capacity to empty ourselves of our own concerns and view things from inside someone else.

     

    In a very deep sense mercy is an extension of Jesus sacrificing himself on the cross for us, this virtue only exists if we take on the flesh of others and know their experience not with the wise judgements of outsiders, but with the very taste of their lives in our mouths and feel of their sufferings in our bones.

     

    Mercy is a long journey that begins with putting ourselves aside, by allowing our own concerns to die, but it leads us to an enlarged sense of life and the promise of compassion.

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  • Love Money

    If you really commit yourself to the idea, can you earn $1 from doing something you love?

    Very often people who are stuck in the pattern of doing work they dislike will shun simple opportunities to earn small amounts of money doing something they love. They assume that if they could only earn a few bucks here and there doing what they love, then what’s the point? They won’t consider it unless they’re convinced such work will bring in some serious money… more than enough to cover all their expenses. A few dollars is just too trivial and pointless.

    That mindset is a huge, huge mistake.

    If you want to make a living (a great living), doing work you truly love, then a necessary first step is to earn that first dollar.

     

    Be willing to receive

    Allow that first dollar to arrive. Allow yourself to receive it. Make it feel welcomed even when it isn’t accompanied by 10,000 friends.

    When you accept that first love dollar, you tell the universe, “Okay, I’m willing to be paid for this kind of work. Can you bring me more opportunities like this?” And the universe will say, “Absolutely… no problem.”

    But when you block yourself from receiving that first love dollar, you tell the universe, “No, thanks. I don’t want to be paid for doing what I love. I’d rather make a living doing what I hate. Then I’ll take my leftover energy and try to do what I love on the side. Please give this golden opportunity to someone else. I’m too busy implementing my plan for lifelong unhappiness.”

     

    Accept the opportunity — in your pajamas if necessary

    When the opportunity to earn that first love dollar arrives, it probably won’t be wrapped in a beautiful gift box with a bow on top. It will more likely sneak in the back door when you aren’t even looking.

    When you catch a glimpse of that opportunity, your first inclination will be to say, “Sorry, this isn’t a good time. I’m in my pajamas. Would you please come back later?”

    Of course if you do that, the universe will reply, “Argh… wrong vibration. This bozo ain’t ready. Next!”

    The correct response is to accept the opportunity even while you’re still in your pajamas. Just run with it. Try to maintain a playful, childlike spirit.

    The next time you feel inclined to turn down an opportunity to earn money (even a puny amount of money) doing something you love, give yourself a good smack upside the head, and do it anyway.

     

    Intend the opportunity

    If you’ve never noticed any opportunities in your life to earn love money, you are really, really, really blind. Such opportunities are everywhere. When you train yourself to start noticing them, you’ll see them everywhere. You’ll start seeing so many of them, you won’t even know what to do with yourself.

    Even if you’ve been (consciously or subconsciously) rejecting opportunities to earn some genuine love money, you’re always free to request another chance.

    Take a moment to set this intention right now: I am now noticing and accepting an opportunity to earn at least one dollar from doing something I love.

     

    Feel free to rephrase that intention (including the currency and the amount) however you like until it feels right to you. Just keep it positive and in the present tense. The exact phrasing isn’t really that important though. The most important element is whether or not you can feel the reality of the intention.

    As you think about that intention, imagine it becoming real. How would you feel if it actually happened? Grateful? Amused? Surprised? Impressed? Put yourself in that place of feeling those feelings. Take a minute to do this right now even before you read the next sentence.

    I’ll even do this with you. I’m already earning quite a bit from doing what I love, but consciously intending more of it certainly can’t hurt. Maybe I’ll notice an unusual opportunity I’ve been overlooking.

    As soon as you notice your intention coming into physical reality, accept what you get and run with it. See where it leads. Don’t worry about whether or not it will lead to massive riches.

     

    Take the inspiration and run with it

    Often opportunities will manifest in the form of ideas. Your job is to turn those ideas into action.

    Here are some random ideas for earning $1 doing something you may enjoy.

    Some guy earned about $5 auctioning his air guitar on eBay. Surely you could earn $1 auctioning something you created. (In case you don’t know what an air guitar is, it’s nothing but air — it doesn’t even exist!)Write a poem, an article, or a song. Share it with as many people as you can, and ask if they’ll pay you a quarter for the value they received from it. Get four people to say yes, and you’ve earned your dollar. If no one agrees to pay you, ask them what you could create that would be worth at least a quarter to them. 

    Ask someone if they’ll pay you $1 for a 10-minute neck and shoulder massage (assuming you enjoy massaging people). 

    Ask someone if they’ll pay you $1 for you to listen to them talk about anything for 10 minutes. You can market it as inexpensive therapy. 

    Ask someone you know if they’ll pay you $1 to brainstorm 20 potential potential solutions to one of their problems.

     

    As simple as these ideas are, if you actually take this exercise seriously and go do it, it shouldn’t be that difficult to earn your first dollar doing something you enjoy. Although the money you earn may be financially insignificant for the time invested, it will feel good to get paid doing something that doesn’t feel like work to you.If you find a way to make a small amount of money doing what you love, you can gradually earn more. Maybe at first you’re earning a rather pathetic, unstable, unreliable income. That’s perfectly okay. If you keep at it, several things will happen.

     

    First, if you really enjoy what you’re doing, you’ll get better at it. You’ll be able to build your skills much faster than  people who hate their work. It’s really hard to compete against someone who lovestheir work.

     

     

    Second, if you work cheap and produce halfway decent quality, you’ll start to get repeat buiness. If you can give a good $1 massage, it’s a safe bet that your happy clients will come back and request another — even if they’re just friends or coworkers. A 50-minute Swedish massage at a decent spa in Las Vegas typically runs about $150. $1 for 10 minutes is a real bargain.

     

    Third, people will start to refer new clients to you. They may even gift their friends with your $1 massage.

     

    Fourth, you can re-invest what little money you make to improve your service. Eventually you’ll be able to buy some scented candles, a relaxation CD, massage oil, a massage chair, a massage table, etc. You might buy a book on massage techniques or become a certified massage therapist. But initially all that matters is that you enjoy giving someone a back rub and hearing them moan with pleasure.

    All of these factors work synergistically. If you keep at it, you’ll eventually get so much repeat business and so many referrals that you’ll absolutely have to raise your prices to keep up with the demand. Eventually you’ll be able to make a good living doing what you love.

     

    Finally, when you get good enough, you can earn even more money teaching others to do the same.

     

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  • Do you want to see Him
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    If you really commit yourself to the idea, can you earn $1 from doing something you love? Very often people who are stuck in...

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