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— FOR HIGH NET WORTH CLIENTS

Borrow low. Stay invested.

The wealthiest families don’t liquidate assets to fund their lives — they borrow against them, cheaply, and let their capital keep working. IPS Lending brings the same playbook to qualified investors through the disciplined use of box spread financing.

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Typical Margin Rate

~13%

What a brokerage may charge to lend against a portfolio.

Box Spread Cost

~4%

A synthetic loan rate accessible to qualified investors who know how to use it.

Capital That Stays Working

100%

Your portfolio continues to be managed while the financing covers your need.

— Rates shown are illustrative ranges, not quotes or guarantees. Actual rates vary by market, broker, account, and date of execution.

— 01 / PHILOSOPHY

Nine ideas that change how you think about your own money.

The same principles that have built private balance sheets for a century, applied with discipline to the modern brokerage account.

— I

Future dollars are cheaper than current dollars.

The dollar in your pocket buys more today than the same dollar will buy in five years. Spending today’s strong dollars when tomorrow’s weaker dollars will do is a tax most people pay without realizing it.

— II

Paying cash today means using expensive money.

Cash is the most valuable form of capital you own. Burning it on depreciating purchases, when low-cost financing is available, is the silent leak in most portfolios.

— III

Real inflation runs hotter than the headline number.

Official CPI understates the lived cost of living. Sources like ShadowStats track inflation using older methodologies and consistently show a wider gap. Cheap, long-duration debt is one of the few hedges available against it.

— IV

Let the portfolio keep compounding.

Long-term capital under professional management should not be interrupted. Liquidating assets to fund a near-term expense breaks the most powerful force in finance — uninterrupted compounding at whatever rate the portfolio is targeting.

— V

Refinance margin debt with a box spread.

A brokerage may charge in the low double digits on margin. A multi-year box spread sold inside the account can refinance that exposure at a fraction of the cost. Same dollars borrowed, very different cost of capital.

— VI

At maturity, roll it or retire it.

When the box spread comes due, the client chooses: roll into a new structure at then-current rates, or pay it off from the portfolio. Optionality is the asset.

— VII

The spread is the strategy.

Keep capital invested at the portfolio’s targeted return. Finance liquidity needs at a meaningfully lower rate. The arithmetic of that gap, applied year after year, is what builds generational balance sheets.

— VIII

Opportunity cost is the cost that's always there.

Every dollar spent today is a dollar that didn’t stay invested for the next thirty years. The point isn’t to avoid spending — it’s to fund spending with the right capital.

— IX

The old adage.

Pay off expensive debt. Hold cheap debt. Everything in this framework follows from that one line.

— 02 / MECHANISM

How a box spread actually funds your life.

01

Draw margin

Capital is drawn against the existing portfolio. The portfolio stays intact and continues to be managed.

02

Sell the box

A multi-year box spread is sold inside the account, generating cash that pays off the higher-rate margin loan.

03

Carry cheap

The effective borrowing cost drops to roughly the risk-free rate plus a small premium.

04

Settle at maturity

At the end of the term, the position is rolled into a new box, or closed by drawing from the portfolio.

COST OF CAPITAL

Lower
×

working against

TARGETED PORTFOLIO RETURN

Higher

The strategy depends on the spread between borrowing cost and the portfolio’s targeted return — not on any specific return figure. Portfolio returns are not guaranteed and will vary with markets, allocation, and time horizon.

"
Pay off expensive debt. Hold cheap debt.

— THE OLDEST RULE ON THE BALANCE SHEET

The rest of the conversation happens on the phone.

Box spread financing is precise work. It belongs in a conversation, not on a webpage. If the framework above resonates — and the math makes sense for your situation — the next step is to call us to discuss your options.

Reach Out to IPS →

BY APPOINTMENT · QUALIFIED INVESTORS ONLY

Click below to learn more about our strategy

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September 9, 2026 No Comments

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IPS Lending

For informational purposes only. Not an offer or solicitation of any security or strategy. Box spread strategies involve options, margin, and market risk and are not suitable for every investor. All rates and figures shown are illustrative and not quotes or guarantees of any particular outcome. Portfolio returns are hypothetical, vary by market, and are not guaranteed. Past performance is not indicative of future results. Tax treatment varies by jurisdiction. Discuss any strategy with your wealth advisor and tax professional before implementation.