There’s a lot of legwork involved with getting a new job-aside from the initial mounds of paperwork involved, there’s also the planning of your life, and lifestyle adjustments, to consider. You’ve probably thought about putting money aside to buy a car, saving up for a house but there are other things you should consider.
Now that you’re working–time to start thinking about retirement!
Even though retirement seems a long way off, by the time you turn 65, there may no longer be any Canada Pension Plan. Most people under 40 aren’t even considering this.
Time can be your ally or foe. Use it to your advantage. $5,000 invested per year for forty years at 8% is worth $1,398,905. $5,000 invested per year for thirty years at 8% is worth just $611,729! Investing just $50,000 extra generated $787,176 more. This is the magic of time and compound interest.
Take advantage of RRSPs today. Reduce your taxable income now and grow your retirement funds on a tax sheltered basis. On any journey, even if it’s only a day trip, accidents can happen
Whether you new job requires travel, or you’re just planning a leisure trip, consider travel insurance. Government health plans don’t cover emergency hospital costs outside of Canada.
Also, not all companies insure out of country travel for their employees, and medical costs in other countries can be simply unaffordable. Protect yourself with travel insurance from Global. It could be your most important travel document!
Insurance for the Future
Most of us will someday get married, own a home, with a mortgage, and have children. In each circumstance it is advisable to own or increase your life insurance.
There are two basic facts about insurance you should know. The price increases with age, and sometimes you are charged extra money or even refused insurance because of your health.
Buy now when you are young and it’s the cheapest insurance you will ever own. Avoid paying extra because of your good health now and have plans in place for when you need it.
You don’t need to have to be a hazardous occupation to have an accident
Accidents happen not only on the job but also at home. Disabling illness can strike when you least expect it, restricting your ability to make a living. If you’re single, you may have no other means of support.
The value of this type of policy is its ability to protect you in the long term, should the need ever arise. Remember, for these reasons, everyone who works and earns a living should consider purchasing disability insurance.
Don’t take costly risks with your health when there’s an affordable solution
Are you satisfied with the health coverage you have? Do you believe that your provincial government plan will cover most medical costs if you ever fall ill? Are you solely relying on your employer’s group health plan?
Keep in mind, employer benefits levels may get maxed out or certain expenses (such as prescriptions and dental) may not be covered. Global’s health and dental care insurance is designed to fill in the gaps left in the government health insurance plan.
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