Loan to buy shares

[Bez]

Hey guys,
I would like to get into the share market soon and was thinking about getting a loan to start off..
Iv never owned shares before and dont know a lot about them.. My stratergy is to just buy and hold..

I was thinking about borrowing $10,000 to $20,000 and buying a share pack from commsec..

If I was to save up my own money to enter the market it might be a few years before I can save enough, but if I borrowed the money i shouldnt have a problem making the repayments...

What do you guys think ?

Cheers..

 

[Simon]

This is what I think:

http://www.somersoft.com/forums/showthread.php?t=24892&highlight=debt+monster

If you don't have time to read the above link then I reckon it is a great idea. I found I couldn't save but I could repay debt. So tax deductible loans got me well on the way to my current financial position.

The Wealth Builder product with Leveraged Equities is a modern version of what you suggest where it is all automated. Check it out.

Cheers,

 

[Ausprop]

great idea... not only that but shares provid yield, and the debt to fund them doesn't attract stamp duty nor punitive taxes such as purchase stamp duty, land tax, council rates blah blah blah.

 

[Bez]

Thanks guys, I was hoping for replys like this

Simon - What is "The Wealth Builder product " you speak of ? where do i find out about it ?

 

[Simon]

Thanks guys, I was hoping for replys like this

Simon - What is "The Wealth Builder product " you speak of ? where do i find out about it ?

http://www.leveraged.com.au/public/product/index.asp?sect=wea

Do some reading here mate.

I am in Newcastle, you should buy me a beer and pick my brain!



Ciao,

 

[Bez]

Cheers Simon,
Id love to pick your brain sometime, im sure there is a lot I could learn from you..
Have to organise something sometime..