Scantlebury Wealth Management

So you are graduating from school and you want to save for your future. You go to a financial planner and you say I have $75 dollars a month to put away, can you make a recommendation? I have come across this situation more than you can imagine and my answer has changed over the years.  Today, more often than not though, I would probably give the same answer. If you have a job with a group plan which has disability coverage, I would suggest that someone spends $25/mth on insurance and put $50 into a savings “fund”. That $25 a month should get you a small life insurance policy as well as either a small critical illness or catastrophic drug policy. The $50 should be put away in a GIC or accumulation annuity until you have $2,000 dollars. Once you accumulate $2,000, you can put money into a non-registered money market mutual fund or money market segregated fund until you accumulate $10,000. From there, in association with your GIC or non-registered funds, you can graduate...

As Canadians, we rarely think about the cost of health care. Most of us rarely have to pay for the services of a doctor or a nurse. While, we are all too aware of the political debates over the provision and use of health care resources and know of the arguments that happen between doctors, nurses, hospital officials and various federal and provincial politicians, we don’t get a bill for it. All we know is a simple fact: we are asked to pay taxes for our imperfect health care system. If you are lucky enough to have a Group Insurance Plan, through your employer, I could probably ask the same question. Generally speaking most employees ask a few questions as they need it or when the premium increases. Other than that your employer deals with the yearly renewals and most of the administration of the plan. All of this means that most Canadians rarely understand the cost of Canadian Health Care. While, it is true that we pay our taxes and some have supplemental coverage rarely is there an a...