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MAGI Moments
In the episode of the "MAGI Moment" series, we review how to deal with assets when covering monthly cash flow shortfalls.
- Using savings
(that's what they are for)
- Selling assets not needed is a good way
(if not at panic pricing)
- Selling stocks
(given the recent drop in value, not a good idea)
- Cashing in RRSPs
(not such a good idea – they are for retirement)
- Encumbering assets
(title loans, second mortgages
only kicking 'the can' down the road)