- Paperback: 272 pages
- Publisher: Insomniac Press (Feb. 15 2011)
- Language: English
- ISBN-10: 9781554830176
- ISBN-13: 978-1554830176
- ASIN: 1554830176
- Product Dimensions: 15.2 x 1.2 x 22.9 cm
- Shipping Weight: 249 g
- Average Customer Review: 2 customer reviews
- Amazon Bestsellers Rank: #487,199 in Books (See Top 100 in Books)
Mortgage Freedom: Retire House Rich and Cash Rich Paperback – Feb 15 2011
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About the Author
Alexander (“Sandy”) Aitken graduated as an engineer from the Royal Military College of Canada. After serving eleven years in the Canadian army, Aitken retired at the rank of Captain and went on to found his first company, Highlander Business Solutions Inc. In 2004, Aitken founded TDMP.com—the Tax Deductible Mortgage Plan—as a debt management platform for Canadian homeowners and investors. Aitken has grown the company into the largest Canadian mortgage platform of its kind, winning numerous awards and making Profit Magazine’s coveted Profit 100 list of fastest growing Canadian companies in both 2009 and 2010. He lives in Toronto, Ontario.
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Turning your home mortgage into a loan tax deductible loan has its merits. (Mine is, but it is also my business) Also investing for the future is best when started early, and the bigger the start the better... the magic of compound investing is nicely and properly explained by the author.
However he dances, and misrepresents his model... by not clearly stating that in the end your mortgage is paid off early, but it is substituted with a Home Equity line of Credit. He says ... no problem, just invest with him (with probably a 3% commission), and in the end your $250,000 mortgage is a $400,000 home equity line of credit... but no problem there is $700,000 made in mutual funds to cover that.
Author presses how hard the method is, but his office will automate it... so best to do it with him.
The method is valid, but can be done with less risk.... (in my opinion) Set up direct investment account and invest in Index funds, and get better results without paying the commissions... or read Don Campbell the 'Acre system' and Dolf deRoos, and learn about real-estate investing.
I still feel this book is a valid read, gets you thinking about a different way, and is a part of your financial education. Just don't be promised riches, and be lead to the slaughter.. Mr. Aitken wrote this book to get your money, and has no guarantees, except that he can reduce your taxes. (Read 'the Naked Investor', and 'Master the Game of Money' to understand more, and learn where and how to invest)