Expect the Unexpected in Life: An Insurance Blog

Everyone has a past, present, and future. Our memories are our past, we are our present, and our future is the unknown.

Many people have a fear of the unknown. This is why we are afraid of the dark or of death. The future is unknown, but, you can certainly make a fairly accurate prediction of where your future will take you. Everyone dreams of how their future will look. This is what I'm going to ask you to do right now.

Imagine, if you will, a crystal ball in front of you. In the crystal ball you can see your life 10 years from now. What do you see?

Me? I see two kids, a bigger house, a nicer car (even though I love my current one!), my two cats will be older, I'll probably have a dog and I see a cottage.

Probably not a whole lot different than what you see in your future now is it? I'm guessing you'll see kids, a house, marriage, a nicer job etc.

How are you going to pay for the down payment on your house? Down payments are 5% of the value of the mortgage, so if you were to buy a house for $400,000 (fairly reasonable price for a detached home) then your down payment would be $20,000.

How are you going to afford your wedding? Ours was $13,000ish and we basically did as much as we could on the cheap.

Do you have $20,000 just sitting around waiting for one of these moments? Probably not, if you do then good job!

These are things you need to prepare yourself for. It's a lot easier to start putting money away now for the things that you'll need in the future than to just happen to have the money in the future!

There are ways of paying for the down payment on a house with an RRSP. Or you can use a TFSA to save for a wedding. These two things will both give you much better growth of your money than just putting it away in the bank.

If you want we can get together and talk about how you can plan for your future. All my info is in the right hand side of this blog!

If you know someone who's looking to buy a house or who is getting married in the next year send this link to them, I'd love to sit and talk with them!

Hope you all have a wonderful day!

Mike