Critical Illness - It Can Strike At Any Time
  
If I asked you if and when you'd get sick, could you answer that? And more important, would you be accurate? Of course not! Things such as illness and injury occur at anytime without a moment's notice, and the effects can be devastating.
I've seen firsthand the effects of a sickness of family members, and that was excruciating for the entire family. Not only were we dealing with the pain of watching our loved one suffer, but for some, the bills that rack up are an additional cause for concern and stress. I'm not talking about medical bills here, although that could be an issue if you choose to go the private sector route. I'm talking about the everyday bills that won't stop just because you're sick - hydro, phone bills, mortgage, credit card bills, everyday expenses etc. The last thing you need to worry about in these situations are finances.
The sad reality is 1 in 3 Canadians will have cancer sometime in their lifetime and 1 in 2 will have some form of heart diseases (heart attack, cancer or stroke). Those are scary odds, so be smart and protect yourself before it's too late.
A real life example of how a critical illness can affect you
Owning Versus Renting
It's all about timing
There are many pros and cons to both owning a home and renting a home and this is especially a pressing issue in the case of Vancourites with rising housing (and living) costs.
Not that's it's ever a bad idea to buy, but if buying causes you to be strapped for cash and puts you in jeopardy of walking a very fine line every month with regards to paying basic bills, then it might not be the right time.
The most important thing is to sit down with your advisor and look at the overall picture - see how much you have, how much you can save, and how much you can afford to put aside for not only a downpayment, but also the monthly mortgage, property tax and possibly strata fees that come with being a home owner. When you have a written financial plan created with specific goals in mind, you'll find that you achieve them not only much quicker, but also with less stress.
CONTEST TIME!
It's that time of the year again and I'm doing a referral campaign to ramp up for summer. For every person you refer that sits down with me for an introduction meeting, your name will be entered into a draw to win 1 of 2 $100 visa gift cards.
Contest ends June 30th, so enter now for your chance to win! Email your referrals to Jessica.Lan@F55F.com
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