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THE SMITH MANOEUVRE is a financial strategy designed to convert the non-deductible interest debt of a house mortgage to the deductible-interest debt of an investment loan, which simultaneously ensures the building of a free and clear investment portfolio.
tidbit How much do you have to earn to pay off a $200,000 loan?
Read it and weep… You need to earn this much: $700,402 You pay this much income tax: $280,161 You have this much left: $420,241 You pay this much bank interest: $220,241 Pay back the original loan: $200,000
During the past 20 years, THE SMITH MANOEUVRE has not been challenged by any tax authority, by any lawyer, by any accountant, by any financial planner or by any financial guru as regards the theory, the strategy, the mechanics, the arithmetic or the projected outcomes.
case history: Quantify the value of THE SMITH MANOEUVRE for the Blacks.
The Blacks $200,000 at 7% for 25 years Both work, $100,000 per year 40% tax bracket $50,000 rainy day fund Adding $500 per month 40 years of age, 2 kids and a dog
Future value for the Black’s current investment program?