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Featured Articles

Financial Aftermath of Separation

by Lisa McColl for fromyouradvisor.com

Divorce is rarely anything but messy and unpleasant, and sometimes the repercussions can be unexpected. General financial and familial fallout are predictable, but the finer details aren’t. There are many things to consider when guiding your portfolio through this rocky time.

Advisor Complications

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Credit 101 for Your Undergraduate

By Melissa Cassar, VISA Canada

If you’ve got teenagers heading off to University or College in the Fall, I hope you’ve done a good job educating them about the importance of personal financial responsibility and how to build a strong credit history. If not, better do it now.

First year students and young adults entering the workforce encounter many unfamiliar expenses – and temptations – so it’s important to help them avoid early financial missteps that could damage their credit for years to come.

Probably the most fundamental tool for helping students manage their finances is a chequing account with a debit card. A few tips:

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Cover your bases in case of an emergency

No matter how much we plan, things can and do go wrong. Here’s how to prepare yourself financially.

By Gail Vaz-Oxlade for MoneySense.ca

The mouse in Scottish poet Robbie Burns’s To a Mouse on Turning her up in her Nest with a Plough teaches us a lot about what it means to expect the unexpected. The truth is, no matter how much we plan, things can and do go wrong (in the poem the plough turns a mouse’s nest to mulch) causing all kinds of problems.

So the question becomes, do you have a back-up plan? Most people don’t. And yet, it is only those who take the time to create a Plan B that weather storms well.

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©iStockphoto.com/courtneyk
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Trends in health benefits for retirees

Since the late ’90s there has been a growing shift away from employers providing group health and dental coverage for retirees. Increasing healthcare costs, provincial de-listing of services, an aging population and changes to accounting rules are the main culprits that are eroding coverage for post-employment.

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The Changing Face of Health Care in Canada

 

By BrighterLife.ca

Canada’s aging population is going to have a significant impact on our health care needs and costs. According to The Sun Life Canadian Health Index, 90% of Canadians anticipate a financial impact if they were to experience a major or chronic illness. Yet only 58% are financially prepared to cover the cost of a serious illness. Are you prepared?

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Five Financial Products You Should Own

By Brenda Spiering, Editor, BrighterLife.ca

You don’t need to be born with a silver spoon in your mouth to build wealth. With the right products, you can grow and protect a healthy nest egg.

Here are five key financial products that should be part of your plan:

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Are You Ready To Deal With A Critical Illness?

Consider the following facts:

  • 40% of Canadian women and 45% of men will develop cancer during their lifetime
  • In 2005, cardiovascular disease (heart disease, diseases of the blood vessels and stroke) accounted for 31% of all deaths in Canada

Advances in medical science means that you have a better chance of surviving a critical illness. However, a critical illness often is accompanied by a huge financial burden to you and your family.

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Debt Load

Are you out of your debt comfort zone? Does it seem as though you’re paying too much to bill collectors and not enough for savings and the things you enjoy in life? If so, it’s a good idea to figure out just how much debt you have and compare that to how much you earn. This will give you clear understanding of your financial health.

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