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Life Insurance Rates and Health Conditions Apr 9th
Most life insurance plans are medically underwritten, which means that the insurance company has an underwriter look at your medical history (as well as conducting an interview with a medical practitioner) to evaluate your overall health condition. This evaluation determines what health class an ap.... More »
Canadian banks hacked and the insurance claim you can't make: CBC's Marketplace consumer cheat sheet Jun 4th
CBC's Marketplace rounds up the consumer and health news you need from the week, including customer data hacked at two Canadian banks, taking car insurance companies to court and the provinces with the best cellphone plans..... More »
Why your home insurance rates are rising Dec 14th
At first glance, James Arnold looks like an insurance company’s dream client. The Richmond, B.C., resident has owned his current home for more than two decades, has been with the same insurance company for almost 20 years, and in all those years had never made a claim. At least, not until recently.... More »
Better Coverage, Lower Cost: Find the Right Health and Dental Plan Oct 19th
When Was the Last Time You Reviewed Your Plan?
If it’s been a while, you could be missing out on new discounts, waived waiting periods, and enhanced coverage options. Whether you’re self-employed, between jobs, transitioning to retirement, or simply looking for better value, now’s the perfect.... More »
The different types of home insurance—which one do you need? Jan 7th
Over the course of your lifetime, you’re sure to find yourself in different living arrangements. From your childhood bedroom to eventually purchasing your own house (and all the fun stuff in between), our different homes reflect the transitions of our lives. From the moment we start to live alone.... More »
Finding your financial footing
– moneysense.ca
Q: A little over 3 years ago, I became a widow very unexpectedly with two kids. About five months ago, I had to leave my job due to Parkinson’s disease. I am an owner of a house which I’m trying to downsize without success due to bidding wars. I do have a small CPP pension and a little money from life insurance which I would like to invest somehow. How do I plan for the long term?—Georgia L.
A: As a financial planner, one of the things I do all day long is build financial plans that show people how long they have to work to retire comfortably at age 62 and fund the rest of their lives through age 95. I often tell people, however, that life is rarely so linear. Yours is a situation that drives that point home, Georgia.
I’m sorry to hear about your misfortune. Life events like this are definitely a time to re-evaluate financially.
Ask a Planner: Leave your question for Jason Heath »
I think it could be helpful for you to build a retirement plan. Based on your current assets, income and expenses, you could use a long-term financial projection to determine things like:
How much of a downsize do you need to do?
How much can you afford to spend each month?
What rate of return do you need on your investments?
How much financial support will you be able to provide for your children, for post-secondary education, for example?
Do you need to plan to return to work at some point?
You mentioned that you left work due to your Parkinson’s…
Vancouver’s real estate paradox
– macleans.ca
For sale sign in Vancouver, May 3, 2016. (Photograph by Jimmy Jeong)Can a city’s greatest strength also be its biggest weakness?
That contradiction lies at the heart of a new study by the Conference Board of Canada and the Greater Vancouver Board of Trade that ranks Vancouver against 19 other global cities on a number of economic and social metrics. Put simply, the same force that has enabled Vancouver’s economy to outperform the rest of the country in recent years is also a reason its future looks so shaky: Vancouver’s red-hot real estate market.
In four of the past five years Vancouver enjoyed real GDP growth of more than 3 per cent, a pace that put it well ahead of the national average. Indeed, since 2005 Vancouver’s real per capita GDP growth has topped the rest of the country. Over that time frame the two biggest contributors to growth in Vancouver have been the construction sector and what’s often referred to as the FIRE industry—finance, insurance and real estate…
