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A guide to the best robo-advisors in Canada for 2021 + MORE Jan 3rd
The robos have invaded. What was once a little-known investing tool for tech-savvy investors is now so commonplace, everyone from newbie savers to retired boomers using robo advisors to help manage their money.
While advisors and traditional fund companies still manage the majority of money in C.... More »
The best travel insurance credit cards in Canada for 2024 Nov 16th
If you’re one of the nearly 80% of Canadians planning a trip outside your province or territory this year, you’re going to want to use a travel credit card with solid insurance.
Top 3 cards for travel insurance
featured .... More »
A guide to the best robo-advisors in Canada for 2019 + MORE Feb 28th
It wasn’t long ago that robo-advisors were thought of as a newfangled millennial-made idea for investing-inept 20- and 30-somethings. Now, though, all sorts of Canadians, including high net-worth boomers and new-to-saving youngsters are pouring money into these easy-to-use and low-cost online oper.... More »
SimplyCash Preferred card from American Express review Jan 16th
If you’re looking for a card that will help you earn cash back on purchases, look no further than the SimplyCash Preferred Card from American Express. With a return of 4% cash back on gas and grocery purchases—and a flat 2% back on all other purchases—it is one of the best credit cards in Can.... More »
Yes, your auto insurance company can drop you. Here’s how to protect yourself against worst-case scenarios Feb 8th
A 74-year-old Brampton retiree was dumped by her insurance company after she was in two accidents, even though she says one wasn’t her fault..... More »
Spiraling drug costs prompt call for major Medicare changes
– canadianbusiness.com
WASHINGTON – Calling the rising cost of drugs “unsustainable,” congressional advisers on Wednesday recommended major changes to Medicare’s popular outpatient prescription program, now 10 years old.
The proposal from the nonpartisan Medicare Payment Advisory Commission, or MedPAC, steers clear of calling for the government to negotiate drug prices directly, an option both presidential candidates advocate. For beneficiaries, the plan is a mixed bag. All seniors would get better protection from extremely high costs, but some may have to spend more.
The recommendations are unlikely to gain traction in Congress during an election year, but they will get a serious look from staff experts on key House and Senate committees overseeing Medicare.
MedPAC is a congressional agency charged with making regular recommendations on Medicare, the government’s premier health insurance program, with about 57 million elderly and disabled beneficiaries. Echoing widespread concerns about drug costs, MedPAC said spending for Medicare’s prescription program grew by nearly 60 per cent from 2007 through 2014, from $46 billion to $73 billion…
The proposal from the nonpartisan Medicare Payment Advisory Commission, or MedPAC, steers clear of calling for the government to negotiate drug prices directly, an option both presidential candidates advocate. For beneficiaries, the plan is a mixed bag. All seniors would get better protection from extremely high costs, but some may have to spend more.
The recommendations are unlikely to gain traction in Congress during an election year, but they will get a serious look from staff experts on key House and Senate committees overseeing Medicare.
MedPAC is a congressional agency charged with making regular recommendations on Medicare, the government’s premier health insurance program, with about 57 million elderly and disabled beneficiaries. Echoing widespread concerns about drug costs, MedPAC said spending for Medicare’s prescription program grew by nearly 60 per cent from 2007 through 2014, from $46 billion to $73 billion…
Steps to getting the perfect mortgage for you
– moneysense.ca
If you’ve been saving for a home, you might be thinking now is the time to buy. Whether you’re a first time buyer or a current homeowner, buying a new home means making tough decisions. We’re here to make sure that you have a good enough understanding of mortgages before you jump right in. Here we outline the steps you need to take to make sure you get the perfect mortgage for you.
Before You Buy:
Determine the amount that you can invest in a home before you begin house hunting.
Step 1. Figure out how much to borrow:
How much you need to borrow will be determined by how much you have for your down payment and the purchase costs, such as legal fees. Ideally, try to come up with 20% of the home purchase price; otherwise, you’ll also need to factor in the cost of mortgage default insurance. You will also want to consider that your monthly mortgage payment, debt and other expenses should not exceed 40% of your income.
Need help figuring out how much you can afford? Use this mortgage calculator to get started…
Should I buy life insurance for our child?
– moneysense.ca
Q: About a year ago our 18-month-old had a liver transplant. We worry he won’t be eligible for life insurance when he’s older and are considering a whole life policy for him while he’s young. Is this wise?
—Jenny Reid, Fredericton, NB
A: The first thing you need to do is ask your insurance provider about your son’s eligibility for life insurance when he is an adult. This may save you a lot of work and a lot of worry. Aline Baker of Rogers Insurance in Calgary says that “depending on the circumstances of the child’s medical history, he may very well be eligible for coverage.” If, however, you’re concerned that he won’t get coverage due to medical exclusions, you could opt for a whole life policy that allows you to increase the coverage without future medical evidence. Baker explains that “the child would have a small amount of whole life coverage now, but he will be able to access the cash value of these policies when he is older to offset things like education expenses, a down payment on a home or to provide retirement income…
—Jenny Reid, Fredericton, NB
A: The first thing you need to do is ask your insurance provider about your son’s eligibility for life insurance when he is an adult. This may save you a lot of work and a lot of worry. Aline Baker of Rogers Insurance in Calgary says that “depending on the circumstances of the child’s medical history, he may very well be eligible for coverage.” If, however, you’re concerned that he won’t get coverage due to medical exclusions, you could opt for a whole life policy that allows you to increase the coverage without future medical evidence. Baker explains that “the child would have a small amount of whole life coverage now, but he will be able to access the cash value of these policies when he is older to offset things like education expenses, a down payment on a home or to provide retirement income…
