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You bought a home—should life insurance be next?
– moneysense.ca
That reality is driving more homeowners to buy life insurance soon after getting the keys. And increasingly, they’re choosing coverage that extends far beyond the remaining mortgage balance. At first glance, that might seem excessive. But a closer look suggests a shift: young Canadians may not be over-insuring, but rather finally insuring properly.
Of course, not every homeowner necessarily needs life insurance—particularly single buyers with no dependents—but for households that rely on multiple incomes, the financial stakes can be much higher.
Why buying a home changes your insurance needs
A mortgage doesn’t just add a hefty monthly payment; it introduces a new level of financial risk. If something were to happen to one partner, could the other carry the mortgage alone? Would they be forced to sell? Could they maintain the same standard of living?
These are the kinds of questions homeownership tends to surface…
Joe Canavan on what it takes to build lasting wealth
– moneysense.ca
Joe Canavan is a Canadian venture capitalist and Principal of Canavan Capital, recently named Angel of the Year by the National Angel Capital Organization. He was an early backer in companies like Wealthsimple, KOHO, and Borrowell, and scaled Fidelity Investment Canada’s assets from $60 million to $6 billion.
Joe sat down to share his perspective on money, from early lessons that shaped his thinking to the habits and misconceptions he believes most influence long-term financial success.
Who are your financial heroes?
John Fisher. Mark Andreessen. Vanad Khosla. I also admire Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg from the All-In podcast.
The common thread with all these people is that they believe in entrepreneurship. They believe in innovation, creation, and making the world better and more successful. They believe in betting on founders even though there is an 80% chance of failure.
How do you like to spend your free time?
I travel a lot; I’m constantly jumping on planes, experiencing new places through wine and food, but also through investing…
