519-646-2222The Stock Market is up and down
Sure, the stock market does that, sometimes it’s up and sometimes it’s down, that’s called fluctuation. The market is always fluctuating, but consumer debts don’t tend to do that. Consumer debt loads have been increasing year over year for decades with no sign of abatement.
In fact, the average Canadian consumer is paying about $900.00 per month on unsecured debt payments. In other words, that’s what it costs each of us, on average, to make payments on credit cards and lines of credit. For some folks that amount represents minimum monthly payments and the debts are not actually being paid down.
Now imagine what your financial world would like if instead of paying interest on debts that aren’t going away you were able to put $900.00 away in the stock market each month. After five years you’d have about $65,000.00 invested, based on an average yield of 7% in the stock market.
What are you waiting for? Deal with your debt problems and start looking towards building assets rather than acquiring debt.