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Tuesday, December 7, 2010

Opening a margin account with TD Waterhouse

Done and completed, despite the heavy snow! I took some pictures this morning. It was something to see. I should hear about my Horizons gold investment today. I should get the margin account in my broker account in about 5 business days. It went well, pretty quick as it was simply just a form that need to be fill. As for the margin use, I will start with a 2 000$ for investment and I will pay off my TD Canada Trust credit line, the one I hold at more than 8%. I will start with 7 000$ just to see how it goes and after, I will use the money to pay my 10 000$ credit line at 7% and so on. But that will be all. With an interest rate of 4.75%, my margin will help me to decrease the amount of interest paid on my debt. Since those debts are money invested and not purchase type debt, I consider my margin used to be good for my type of situation.

1 comment:

Arunan said...

Goodluck, read and understand all the details about Margin before take the advantage of it. I hope you know better than others becauser you are a "Lady Warren Buffett". I am waiting to see your first million dollar in your account.


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