Long Term Care Insurance

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Hey Tradergordo,

In Canada, lots of people depend or should I say "look forward to" government supplemental income. We contribute to it our entire lives and get it back at old age. It is guranteed. The amounts are not tremendous, but they help. See this links below:
http://www.servicecanada.gc.ca/eng/isp/pub/factsheets/rates.shtml
http://www.servicecanada.gc.ca/eng/isp/oas/oasrates.shtml

Those amounts are there to help supplement your retirement incomes/pensions.

Medical services in Canada are covered by our income taxes (most but not all). Prescriptions, etc are run by private firms (blue cross et al.) Our income tax rates are much higher than in the USA but having a baby in a hospital doesn't cost $10 000. Pros and cons to each.

As you, I believe in balance. Imagine being an investor and telling your 64 year old client who HAD $1 000 000 in investments that he just lost $300 000 because of a market crash?! Saving all those years for....a stock market to lost it? It's tricky finding a safe investment that is a promised return.

As much as I LOVE THE U.S.A, CAnada is not in near as bad of a financial situation (luckily). Our housing market up here is certainly not great, people who can't afford homes are buying them. But I am quite certain the situation is not near as bad as I have seen with our friends down south. For example, in Canada there's a regulating corporation regarding mortgages on a National level. IF you do not have 20% downpayment for a house, you MUST purchase mortgage insurance so that the financial institutions can cover their rear ends if you default on it. For example, the government banned 40 year mortgages. You are now required to have 50% equity if you build a home as a rental property, etc.
http://www.cmhc-schl.gc.ca/en/ it's a wealth of information.

I do agree on the outsourcing of jobs. It's a big problem. But the root of it is simple: greedy corporations. But I think people are more aware of this problem and are trying to avoid it.

As I said before, it's about balance. Don't sacrifice too much today with hope to enjoy yourself 25 years from now since you may not make it or your investments may not either.

Andrew
 
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