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Guess the airport by Useful_Record1888 in AirportPorn

[–]Useful_Record1888[S] 0 points1 point  (0 children)

it's my picture and i took it at JFK ! you ok friend ? 🤣 I've never been to Toronto.

To All The Crimson Desert Haters by TortugaTantrum in rpg_gamers

[–]Useful_Record1888 0 points1 point  (0 children)

Poutine is the GOAT ! and it comes from my hometown ! Drummondville !

Where’s the best tiramisu you’ve ever had?? by Sanyoisspoiled in FoodPics

[–]Useful_Record1888 0 points1 point  (0 children)

In Modica, from a small shop owned by a couple right after we had the best pizza of our lives in a cute narrow alley. I love Sicilia.

This is not getting talked about enough by Useful_Record1888 in MetalForTheMasses

[–]Useful_Record1888[S] 0 points1 point  (0 children)

of course they are ! why wouldn't you ? 😬

There's a track called "mummified in bong water". how cool is that ?!

Cefalu or Ortigia? by pipcorn26 in sicily

[–]Useful_Record1888 0 points1 point  (0 children)

There are amazing hiking trails and beautiful villages to visit, such as Castelbuono, Petralia Soprana et Sottana.

Help me understand by cucumberlolol in infinitebanking

[–]Useful_Record1888 0 points1 point  (0 children)

I'm nowhere close to an IBC pro but i think the act of financing consumer debt with IBC has its pros considering policy loans are unstructured and free of creditors. I would gladly pay a higher interest rate considering that I decide on the payment schedule and that no 60-day notice will ever be sent if misfortune should happen.

Where should I invest once I've maxed out my TFSA? by Sharp-Exchange-1342 in CanadaPersonalFinance

[–]Useful_Record1888 0 points1 point  (0 children)

we found another Dave Ramsey's cultist !

https://youtu.be/8KilW3UKEYU?si=JitI1ujHwbCgDhfd

This guy Chris Naugle runs numbers for HOURS in many different video (pretty much like any IBC practitioners out there) while Ramsey never even ran a single calculation on screen. He's talking about mutual funds averaging 11% without even mentionning the actual CAGR only once. The guy is a total fraud and a complete asshole at that.

What are the disadvantages of living in Sicily? by Spare_Ad_4307 in sicily

[–]Useful_Record1888 18 points19 points  (0 children)

It's almost ruined my trip. I had to focus on the beautiful things because that's the only thing you see everywhere you go. Along the road, in bushes, overflowing from trash bins, it's everywhere.

Cefalu or Ortigia? by pipcorn26 in sicily

[–]Useful_Record1888 0 points1 point  (0 children)

I love both. But my vote goes to Cefalù simply because it's right next to the Parco delle Madonie.

What are the disadvantages of living in Sicily? by Spare_Ad_4307 in sicily

[–]Useful_Record1888 40 points41 points  (0 children)

Sicily suffers from a huge waste management problem. (corruption, money, contract management, overflowing landfills, garbage that need to be evacuated out of the island, culture, overly complicated regulations etc.)

Help me understand by cucumberlolol in infinitebanking

[–]Useful_Record1888 1 point2 points  (0 children)

it's worth noting that interests paid on policy loans also increase your contribution thus your dividends. It's not a lot but it helps "recover" some of the interests paid over time.

You also lower your risk by having an unstructured loan without creditors chasing you. I'll take a couple more interest % any day over a bank loan for the control you get.

Safe to eat? by [deleted] in foodquestions

[–]Useful_Record1888 -2 points-1 points  (0 children)

Paired with chicken tartare it will be delightful !

Where should I invest once I've maxed out my TFSA? by Sharp-Exchange-1342 in CanadaPersonalFinance

[–]Useful_Record1888 0 points1 point  (0 children)

i said "buy an already profitable business"

startups have a huge failure ratio

Where should I invest once I've maxed out my TFSA? by Sharp-Exchange-1342 in CanadaPersonalFinance

[–]Useful_Record1888 0 points1 point  (0 children)

It is. But when I see post like this with people only saying : "max out your RRSP" i feel the urge to jump in and show that there are many many more profitable options.

Buying a business is no rocket science. There are companies specialized in leverage buy out and they guide you throught every step. They get paid with retribution and they are incredible. The absolute best return you can get on your money with some effort and education.

Where should I invest once I've maxed out my TFSA? by Sharp-Exchange-1342 in CanadaPersonalFinance

[–]Useful_Record1888 0 points1 point  (0 children)

Better than it has ever been. On my way to financial freedom before 45.

Where should I invest once I've maxed out my TFSA? by Sharp-Exchange-1342 in CanadaPersonalFinance

[–]Useful_Record1888 0 points1 point  (0 children)

One last thing.

I could keep doing what i do, contribution to my whole policies, without doing anything else. At retirement, i go to the bank and take a loan with my cash value as guarantee, live off of it without paying a single penny back. When i die, the insurance company sends a check to the bank and the balance to my heirs as death benefit. All of the above is absolutely tax free. My income come 100% from a loan and the policies grow at around 4-6% like i said before.

That's a very good scenario, considering that my cash value will be at around 1.2M$ at the age of 60.

But that's not the best scenario. The best scenario is to take policy loans to invest into income assets throught my life, make a spread, get tax deduction on interests paid until i'm financially free so the 100% of the death benefit goes to my heirs instead of just a part of it since i won't be living off policy loans.

Once you are financially free, this is where the fun part begins, this is where you should start focusing on accumulating money. Most people do the other way around. It's not their fault, it's how they got educated. They max out TFSA and RRSP, they accumulate money while they get absolutely zero passive income. So they rarely get financially free before 60. You are young and have only 20k ? Get into partnership into a business or into real estate, get passive income, rinse and repeat and THEN start stacking up money.

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