Does anyone here have any experience with, or advice on taking out a loan to invest in an ETF, long-term, through either a TFSA or RRSP account?
I, 42M, have been approached by someone, through Experior Financial, offering this loan ($100k) from “B2B Bank.” I realize the advisor will make commission from the sale of this loan, so, taking their advice lightly, although he has shown his own personal gains this year from this product, 15%, minus interest/ loan payment.
The money is loaned to me at a rate of 5.5%, and overall gains on the S&P500, as we know, is roughly 10%, the numbers seem to make sense to me. However, I understand there is always a risk of a market crash, or job loss.
I’m also thinking, if this was the guaranteed way to make money long-term, and help set one’s self up for a more comfortable retirement, everyone would be doing this, and I don’t personally know more than 1 person so far who has done this.
I really appreciate any feedback I receive on this, it will help me make a better decision for myself and my family.