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12 of 12 people found the following review helpful
5.0 out of 5 stars SECURE & PREDICTABLE,
This review is from: The RRSP Secret: Defend and Build Your Wealth with This Powerful Investment Strategy (Hardcover)Greg Habstritt''s first book, The RRSP Secret, makes a significant contribution in the realm of personal finance in Canada.
This is not a novel, so I''ll give away the secret: the subject matter deals with investing in Arm''s Length Mortgages. "'Why do you think the biggest financial institutions rely on mortgage financing as their bread-and-butter business? It''s because it is so profitable!"' (70) Sophisticated investors have long used this strategy in their personal portfolios. Greg shows readers how almost anyone can.
Greg describes arm''s length mortgage investing as: stable and predictable; able to consistently produce double-digit returns with controllable risk; not requiring payment of commissions/fees to advisors/''experts''; virtually immune to what markets are doing; and 100% eligible for your RRSP, RESP, RRIF, TFSA, and LIRA. (69)
The Introduction suitably sets the stage and provides a personal connection with the author. Many Free Bonuses are available by registering yourself as an owner of the book on Greg''s [...] website (which also adds you to his growing database and impressive marketing machine).
Part 1, What the Financial Industry Doesn''t Want You To Know, is extraordinarily informative, readable, and intentionally disturbing.
Most readers will recognize themselves in a chapter devoted to investor bias. "'Any time you invest in something you don''t understand, you're gambling, not investing."' (7) Habstritt believes that 'a direct indicator of how successful you will be in life (not just financially) is based on your willingness to be accountable for your results.' (9)
In this section Habstritt reveals how the financial industry really works and how the government uses RRSPs to generate tax revenues. He uncovers the unfortunate truth about the limited availability of truly unbiased financial advice, and turns some well-worn ''truisms'' on their head. By way of example, here's what Warren Buffet has to say about diversification: "'Wide diversification is only required when investors do not understand what they are doing.'" (43)
In Part 2, The Best-Kept Investing Secret for Canadians, Habstritt tackles the task of describing mortgage investing step-by-step, including finding and evaluating opportunities, setting terms, and managing risk. This section, while packed with information, is somewhat less readable.
One of Habstritt''s challenges is that he's addressing two audiences: lenders and borrowers. Happily, the end result is a balanced presentation useful for any party willing and able to sort through the comprehensive detail provided.
If you''re wondering if this book is for you, simply start at the back and read the short section entitled Conclusions, where Greg explains why he wrote it and shares two third-party success stories. I recommend Greg Habstritt''s The RRSP Secret to anyone willing to learn and employ one simple strategy to strengthen their financial future.
3 of 4 people found the following review helpful
5.0 out of 5 stars Safe, secure, double-digit returns,
This review is from: The RRSP Secret: Defend and Build Your Wealth with This Powerful Investment Strategy (Hardcover)I have been looking for a book like this for years, thank you!
The RRSP Secret is a very thorough and enlightening guide to putting your RRSPs to work in ways that put YOU in control, while earning 12-14% returns, on an investment secured by real estate.
The Q&A section at the back is really useful, and addresses many common and not-so-common questions about using the strategies described in the book. Also, the companion web sites contain many invaluable tools to enable those with RRSPs to move forward with the strategies.
The book also goes into the potential downside of this kind of investing, and keeps reminding readers to seek legal counsel, and make sure that they do their due diligence before taking action. You have to know the rules to play the game properly, and have the players in place on your team, to maximize returns and minimize the downside.
A must read for Canadians who are tired of getting lackluster returns, and want to take control of their RRSPs, and other registered investment vehicles.
After reading this book, I am ready to tap into some dead capital, and put it to work making me and my partners consistent, double-digit returns - MUCH better than the 1% a year you can get at the banks, or hoping for strong returns from the stock market.
5.0 out of 5 stars An eye-opener!,
This review is from: The RRSP Secret: Defend and Build Your Wealth with This Powerful Investment Strategy (Hardcover)Who knew RRSPs could be invested in any instrument as long as it is done properly? Not me......I have recommended this book to others and the feedback is always positive. Great book.
5.0 out of 5 stars Wow the stuff you learn....,
I am one of the millions of people that dreads getting the twice yearly statements because the picture is one of small gains and large fees( MER's are deducted automatically and are not shown on the statement - I knew this but somehow thought that's what we all have to put up with - WRONG !)
Do yourself a favour and grab a copy of this book, the strategies are not rocket science, they are legal and are overseen by the CRA. I have to let my financial advisor know in the next week or two that I will be changing to self-directed RRSP's he won't like it and I remember that this is my money, my future and I finally have hope that I can build a decent retirement pot for myself.
4.0 out of 5 stars Solid book to learn about RRSP mortgages,
It has given me the confidence to attempt these strategies in the next few years! Even if one gets a few new investing ideas from this book like I did, I found it to be very decent value!
5.0 out of 5 stars If you want your RRSP to grow FASTER, buy this book!,
Most people haven't heard of this, so this book was needed to take this investment out of the shade and into the mainstream.
I bought many of these -- I have been using them as gifts for my clients.
5.0 out of 5 stars Great book,
5.0 out of 5 stars The most in depth RRSP book out there!,
2 of 3 people found the following review helpful
5.0 out of 5 stars READ THIS BOOK,
3 of 3 people found the following review helpful
5.0 out of 5 stars Opened my eyes !!!!,
It's also a fantastic read for real estate investors who want to know another way to borrow funds.
Greg's main strategy in this book is arms length mortgages: he details the pros and cons, gives step by step how-to details, shows win-win situations for the borrower and the lender and the best ways to protect each party in different situations.
I could go on and on because there is so much great information in this book. You are doing yourself a great service by reading this book. I am very grateful to have read it.
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The RRSP Secret: Defend and Build Your Wealth with This Powerful Investment Strategy by Greg Habstritt (Hardcover - April 16 2010)
CDN$ 36.95 CDN$ 23.16