My returning guest in this episode is the inspirational Gena Lofton. Gena provided so much value in Episode 54 for my listeners! In this episode, we discuss a strategy Gena uses in her own life to have the same dollar have multiple uses, a strategy called, Security based lending. This strategy teaches how to leverage your stock portfolio to buy more cash flowing businesses and assets. According, to Wells Fargo "a securities-based line of credit helps you to meet your liquidity needs by unlocking the value of your investments. This type of borrowing may be easier to obtain and more cost-effective than other alternatives. It depends on whether you have sufficient eligible securities to use as collateral. Some of the advantages of securities-based borrowing include:
- Access to cash when you need it
- Typically lower rates than other forms of credit
- No set-up, non-use, or cancellation fees
- Ability to borrow between 50% to 95% of your eligible assets, depending on the collateral and type of credit you receive
These lines of credit can be used for many purposes. Common uses include:
- Real estate purchase
- Expenses such as taxes or tuition
- Boat, car, or other luxury purchase
- Business opportunity
You can use a non-purpose securities-based line of credit for any purpose except to purchase, carry, or trade securities; refinance or repay margin loans; or repay any other loan used for securities purchases. A margin account is the only securities-based line of credit you may use to purchase securities."
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