Your Home, Your Wealth
Is Your Home An Asset Or A Liability?
Most people don’t actually own their home. They own a mortgage and a lot of
expenses. They live in a great place while hoping their asset will appreciate and
become a valuable part of their retirement strategy.
That’s a pretty vague wealth plan. Instead, build equity for your future by doing
more than live in your house. Make this valuable asset work hard for your wealth.
Your FORTAX Financial Advisor can help with this plan. Think about renting out a room
or two, to pay down the mortgage faster. Hire a top-notch contractor to turn the
basement into a rental unit. Plan the work so that it will add equity while also
generating cash flow.
Or borrow against the increasing value of your home and purchase a rental property.
Carefully plan it so that the cash flow will pay all the expenses. Then you will own
two valuable assets.