Things really get interesting after that. The accelerated pace of change lately suggests we will not have a period of financial calm where there’s opportunity to reflect and regroup. Other threats to your financial well-being are out there and likely to become more concerning. Let’s look at three of them:Our health care system too often cannot provide timely care. We will not get this fixed without it costing us more.
“The reality of what medical care may cost in the future, even if you have a health plan, may not be fully factored into your current retirement plan,” Jackie Porter, a certified financial planner with Carte Financial Group, told me in an e-mail. Now is the time to consider a more climate-centric approach to home ownership. You know how property listings on Realtor.ca score houses for their proximity to schools, shopping and more? It’s time to add a climate score that considers how close homes are to flood zones, how well defended they are against water damage, the climate friendliness of heating and cooling systems, and the level of insulation. Until this kind of scoring arrives, home buyers should create their own climate checklist.
Climate considerations also affect the choice between living in a condo and a house. Homeowners can make their own decisions on whether to add solar panels, heat pumps and charging stations for electric vehicles, while condos need broad owner support. Rising insurance costs will put upward pressure on condo fees.Toronto and Vancouver are affordability deserts for young people, and some nearby cities are headed in that direction.
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