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Posts from the ‘Living Benefits’ Category

10
Aug
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Start a family conversation about elder care

BY David Wm. Brown and Sarah Brown

Starting a conversation about someone’s age is a sure way to be the least popular person in the room. But while this is a no-go territory for cocktail party chatter, it’s a conversation you need to have with your parents.

Statistics Canada tells us that in 2007, people aged 45 to 64 paid for 75% of elder care. And now, a new generation is realizing that when their parents need long-term care, they’ll be called upon to fund it.

Read more

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8
Jun
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Workers unprepared for financial impact of disabilities

Most Canadian workers would suffer severe financial hardship if they were forced out of work with a disability.

In fact, 76% believe that should they become disabled and unable to work for three months, there would be serious financial implications for their family, such as significant debt or an impact on retirement plans, finds an RBC Insurance survey.

Despite the concern, only 27% have discussed how a disability would financially impact their family. This number does not increase substantially among workers who’ve indicated that they’ve taken time off in the past because of a disability (33%).

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Used with permission from Benefits Canada Magazine
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1
Jan
criticalillness

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. Read more »

12
Dec
gettingadvice

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:

1. Registered Retirement Savings Plan (RRSP)
As soon as you begin your working life, you should have a registered retirement savings plan (RRSP). It’s one of the most tax-effective ways to save for retirement. You’re allowed to contribute up to 18% of your earned income from the previous year to a maximum of $23,820 for 2013 ($24,270 for 2014). (If you’re a member of a group pension plan, your contribution room is reduced by your “pension adjustment,” an amount you’ll find listed on your T4.) Read more »