S4E5 Turning Your Business Into Your Own Family Bank
Steal the Show with Michael Port
00:00
Bankruptcy Strategy
i a principle where i won't borrow, on margin from that account more than 20 %. Here's an example of how i used it in a way that might be surprising. Amy and i had a boat that we decided to put on the market a couple of years ago. I didn't want to take cash out of my emergency fund by selling stocks or bonds. And so what i did was borrow from my broker's account on margin. Within six months, the earnings on that account eclipsed what i had borrowed from it. So i was able to pay it back. The earnings paid off the boat, none of my principal.
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