South Coast Financial Services
We care about your financial self defence ... shouldn't you?
Dear Visitor,As we welcome in fall it’s a good time to review our finances especially given the pandemic we are in this year.
It has been an unpredictable year the markets early in the year dropped significantly but have now recovered and are at new highs. That being said they are still going up and down like a roller coaster. One strategy is to have some of your investments in dividend funds. Here is a link from the Globe and Mail outlining advantages of dividend funds => Ten reasons to love dividend investing.
This market roller coaster may worry many people especially those who are approaching retirement or are retired. Investing in Segregated funds is a good strategy, here is a link from Co-operators outlining the differences between Segregated funds and Mutual funds => Mutual Funds vs Segregated Funds.
Life insurance is not something we like talking about but it is something we should be considering at all ages. Many people have lost their lives due to the COVID 19 virus this year some leaving their families with little or no income making them make severe changes to their life styles. Why because when we are young we think we have a long life ahead of us and don’t need to worry about that now. When you are young if you purchase a 35 year term policy or even a whole life policy it is inexpensive compared to what would will be paying when you get older and possibly not be able to afford it. Here is a link to an article from the Financial Post: => The life insurance people don’t need.
Disability and critical illness insurance is also something people should be looking at.
For disability insurance you may think you are covered by workers compensation but this only happens if you become injured or disabled at work. Most disabling accidents happen outside of work. You may also have disability benefits from your work but usually they only cover for a short length of time.
As far as critical illness insurance goes today 1 in about 5 will come down with some form of cancer or you may succumb to another form of critical disease. Becoming disabled or having a critical illness can stop us from the most important asset we have and that is earning an income. You can add these as riders to your life insurance policy.
Wills and Powers of Attorney
As we discussed people are unexpectedly dyeing from Covid 19.
Without a Will your wishes may not be carried out as you wish and the government may make decisions for you depending on the circumstances. Powers of Attorney are something everyone needs, if you did become disabled and couldn’t look after your finances who would do it for you or if you were going to be disabled on life support for the balance of your life would you want that. Powers of Attorney allow you to appoint someone you trust to look after your finances and make decisions on life support for you.
Now you say these are very expensive to have a lawyer prepare, well yes it costs a lot for a lawyer but if you go to our web site you will
find a link to an affordable way to have these documents prepared and optionally reviewed by a lawyer at a very reasonable price.
Thanks for taking the time to read this information and hopefully we have triggered some thoughts about yours and your family’s future. We can help you with this with our Financial Goals Analysis. It is a complimentary review we will do for you that looks at all the aspects covered here and more. You may already have a financial advisor but isn’t worth getting a second opinion? If you wish to have your Financial Goals Analysis use the contact information below to book your appointment. We can meet with you in person if your are close to us (masks will be worn by the advisors) or we can do an online meeting with you.
We provide services in all these areas: Income Protection
Investing for the Future
Wills & Powers of Attorney
Should you desire more information in any of these areas contact us, our contact information is below and we would be glad to setup a time where we can sit down and discuss things with you.
Also make sure you book your appointment for your complimentary, comprehensive and confidential Financial Goals Analysis. The analysis can lead you and your family to your financial goals and dreams!
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