How rich people are using cheap loans to cash out without taking a big tax hit
capital-gainsPortfolio-based lending is not new, but the pandemic's market rally and low interest rates turbocharged borrowing among America's wealthy. A big use of these kinds of loans right now ison real estate. Executives are also borrowing against their portfolios to pay taxes rather than selling assets.
Securities-based lines of credit can be taken out only against nonretirement assets and typically have a higher minimum than margin loans, which, unlike SBLOCs, can be used to buy stock. Larger lines of credit also typically incur lower interest rates.and even stakes in sports team. Whether they use the proceeds to expand their collections or invest in private equity is up to them.
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