I just finished reading the front page article of the Surrey Leader about people who are outraged that seniors are being vacated from their long term care beds at the Newton Regency Care Home.
I understand the political argument by Carold James, and I too believe that it would be great if the government could provide the kind of care that the public would like to see…
The harsh reality however is that our government cannot afford to operate the services that the public would like to see them provide.
Health care costs are expected to rise significantly in the next 10-15 years, and the situation will not be getting any easier. As individuals we must start taking our health insurance, retirement planning and financial security into our own hands. The days of the lifetime retirement pension are quickly fading into the past. I am not trying to be all doom and gloom, but taking corrective action is easier to do when you have time to do so. Don’t wait until the ship is about to hit the iceberg before you start trying to steer around it.
The warning signs are everywhere… So take action now. Talk to your financial planner about what you can do to avoid being stuck in this situation yourself.
- Start Saving Now – Even a small amount of money set aside each month now will have a large impact on your future
- Protect your family – There are numerous ways to ensure that your family will be taken care of in the event that something tragic were to happen.
- Protect yourself – Talk to your planner about Long Term Care and Critical Illness Coverage. Don’t let a heart attack put financial strain on your family
- Spend less than you Make – I know people whose sole income earned is by collecting interest on loans that people have taken out. Stop living on credit.
Your planner can help you with all of the above situations. If you want any advice on what to do, feel free to contact me.
We are fortunate to live in the most beautiful place in the world, and are SO lucky to have the resources that we do have, but that doesn’t mean that we should rely on the government to take care of us. Become accountable for your own future and sucecss.
As always I welcome any comments and feedback.