04/13/2020
An interesting read from one of our Investors:
If you’re like me, you probably find it a challenge adjusting to the lockdown, or social distancing if you prefer, that the Corona virus has inflicted on us. All the little things we take for granted we now suddenly miss. No more bumper to bumper commuting, no more putting up with that annoying co-worker whose desk is far too close to you in the office. And no more waking in the dark to an alarm clock. Okay, so it’s not all bad and it does prompt one to take stock of the way we live in modern western society.
As the world has changed, it certainly affords time for pursuits we perhaps don’t usually have the opportunity to indulge in. For instance, more people appear to be reading or even taking a stroll, albeit in isolation. However, we need to spare a thought for all the dogs who have never been subjected to so many walking opportunities. I expect many are hiding in the recesses of the basement as yet another member of the family feels the need to use Rover as an excuse to get out. Moreover, the house has probably never been so clean and perhaps some odd jobs are finally being completed – one can only watch so much TV.
If you have exhausted all the above and more, this may be a good time to review financial opportunities and plan for the future. In my own case, I find myself nearing retirement and have taken the opportunity to enhance my available home equity line of credit that is secured by my house. And it’s a good time to do this for a number of reasons. First of all, as I am still receiving an income, I am able to qualify for more money on the line of credit as compared to if I wait until I’m retired. Second, if you need access to some money it is now just a click away. As well, borrowing rates have never been so attractive if, like me, you have an opportunity to invest in a fixed income product at Albamar that will garner a tidy profit.
Now what would you rather do? Set yourself up for future passive income opportunities or fix that leaky faucet.
Hugh R.