Saving For A Rainy Day
Many Canadians are living pay check to pay check, its just a reality of life. However, if something devastating occurs like an accident, they have little to nothing to fall back on. The old adage of saving for a rainy day is important. We all need to save for a rainy day, because those can last months or years.
How do you that? It is about making wise choices. Rather than rushing to pay off your mortgage while the interest rates are so low, how about investing that money into a high yield savings? I am not a financial advisor, and I do not pretend to give advice on how to do it, all I am saying is that every bank in Canada is telling you they will help you with your finances. Do not be scared to talk to them. Sit down with your local branch and figure out a strategy in case that rainy day or year comes about.
You also need to have a meaningful discussion with an insurance broker about critical illness, disability and life insurance. Insurance is a key part of life. If something happens and you do not have the funds, then at least you have insurance to cover you and your family so you are not broke. Your local bank also may provide insurance. I cannot tell you how many clients I have that kick themselves after the fact for not getting supplemental insurance and then it’s too late. Insurance can pay your wages, they can pay your mortgage and they can provide you with a lump sum to get by while your injured. Car insurance does not pay your full income loss unless you bump up your coverage, so people that are injured find themselves stuck when they are out of work. Do not find yourself in this predicament, plan now for “just in case”.
OUR TEAM
- Jeffrey Hum
- Tofunmi Adeyeye
- Alessia De Gasperis
- Karan Joshi
- Amandeep Chawla
- Jeremy Tsoi
- Kimiya Razin
- Bilal Hashimy
- Qaisar Yaqub
- Shir Zisckind
- Gray Sinden
- Shelly Bard
- Christian Brown
- Daly Canie
- Mohsen Heydari
- Tanveer Sohal
- Erin MacDonald
- Prianka Virdi
- Noah Brownstone
- Justin Kaminker
- Harinder S. Bhatti
- Craig Yargeau
- Kiran Birk
- Amit Singh
- Andrei Teju
- Maria Zahid
- Matthew Douglas
- Jacob Elyk
- Harry Gill
- Aria Nejatali
- Jesse Singh
- Kristina Olivo
- Egi Bano
- Ainsa Hepburn
- Cam Woolley
- Charles Thompson
- Alexandra McCallum
- John Sime
- Allan Cocunato
- Patrick Poupore
- Erika Henderson
- Marina Korshunova
- Brandon Handelman
- Regeena Alapat
- Ryna Kim
- Natalia Poliakova
- Isaac Zisckind
- Manpreet Bhogal
- Mathura Santhirasegaram
- Nikolai Singh
- Sandra Zisckind
- Jeremy Diamond
- Michael Blois
- Darryl Singer
- Nadia Condotta
- Tinashe Madzingo
- Megan Armstrong
- Veronica D’Angelo
- Corey J. Sax
- Scott Tottle
- Steven Wilder
- TJ Gogna
- Jillian Carrington
- Joshua Himel
- Simon Diamond
- Cory Rubin
- Simon Mariani
- Brandon Greenwood
- Basil Bansal
- Nastassia Ivanova
- Tania Fleming
- George Laloshi
- Patrycja Majchrowicz
- Diana Iakossavas
- Dior Africa
- Alex Ragozzino
- Liana Saccucci
- Richard J. Chang
Diamond & Diamond British Columbia Head Office
1727 West Broadway, Suite 400, Vancouver, British Columbia
Barrie
168 Bayfield Street
Calgary
1331 Macleod Trail SE, Suite 645
Edmonton
4246 97 Street NW, Unit 103
Halifax
1701 Hollis St
London
256 Pall Mall St, Suite 102
Oshawa
50 Richmond Street E, Unit # 108 B
Ottawa
955 Green Valley Crescent, Unit 315
Sudbury
31 Larch Street, Unit 300
Timmins
120 Cedar Street South, Unit 002A
Toronto
255 Consumers Road, 5th Floor
Vancouver
1727 West Broadway, Suite 400
Windsor
13158 Tecumseh Rd. E. Unit 3B
Additional Areas Served
Ontario
Alberta
British Columbia
Maritimes
© 2021 Diamond and Diamond Lawyers LLP. All Rights Reserved.