Scantlebury Wealth Management

When you buy a home, you’re usually thinking about paint colours and floor plans. If the home is older, you might be thinking about changing the tiles and regrouting the bathroom. But, you’re probably not thinking about how to pay for the mortgage or maintain the home if you have a diagnosis of a life-altering illness. However, a house is more than a home; it’s a financial commitment that relies entirely on your ability to earn and maintain an income. This is why I recommend that most Canadians should consider a critical illness insurance policy. While Canada’s publicly funded healthcare is a point of pride, it doesn’t pay your mortgage or your out-of-pocket medical bills; and the effects of those costs, called "financial toxicity", can hit families when they least expect it.  A national study, sponsored by the Canadian Cancer Society, found that 33% of people with cancer reported the financial strain from out-of-pocket costs to be high. This should not be surprising because...

Step 1: Press “Pause” and Rebuild Take a moment to breathe. You will feel many emotions including shock or anger. They will wear off; but it will take time - a few days, or a few months. It is important to let these emotions wash over you and let them dissipate so that you can make smart decisions about your next few moves. You can try to do simple things like eat well, exercise and have good sleep habits. Taking these steps, taking the time, will ensure that you don’t burn any bridges with your previous employers, supervisors or other stakeholders.  You can also talk to your family and friends. They can be great sounding boards if you need to vent a little or if you need some guidance. Moral support can count as much as financial support. Step 2: Stay positive and make getting another job your new job Firstly, please remember to take care of yourself. The shock of being laid off is real. While, it is important to take comfort from the knowledge that other people, most people, have...