Weekend Reading – Scary money stats, killer giveaways, frightening financial plans and more!

Weekend Reading – Scary money stats, killer giveaways, frightening financial plans and more!

Welcome to your Weekend Reading list that includes some scary money stats, killer giveaways, frightening financial plans and more.  Before we cut into the articles, here is a chilling reminder of what the Liberals might pursue in their upcoming term and in the process, how it might affect my wallet. Whatever your plans are this weekend, have a spooktacular Halloween, be safe, enjoy and remember to Trick or #Tweet @MyOwnAdvisor!

Interesting and frightening survey with some scary money stats from BlackRock – who polled 2,000 Canadians about money, investing, and financial goals.  4 in 10 Canadians are not saving for retirement and the average Canadian keeps a whopping 60% of their investments in cash.

Comedian star Amy Schumer counts her pennies and still lives in a one-bedroom Manhattan apartment.

Check out this dividend stock analysis about Apple.

Like I recently wrote about, The Blunt Bean Counter outlined how the Liberal government may affect you.

Have a great weekend!


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12 Responses to "Weekend Reading – Scary money stats, killer giveaways, frightening financial plans and more!"

    1. Thanks for checking that out Cannew. I hope to post another dividend income update in a another week – so stay tuned to see where I’m at – the dividend machine is slowly growing; hopefully I’ll get to some FI eventually.

  1. The CBC article on marijuana and life insurance is horrible to the point of being misleading. Does nobody actually research this stuff anymore? Like, pick up the phone and call someone, get an expert opinion? The CBC should do better. They didn’t do that in this case and left us with yet another wrong/misleading article on life insurance floating around the internet on what seems to be a reliable source.

    The article is correct that marijuana users in Canada get smoker rates, no matter how they partake – smoking, vaping, eating. And yes, marijuana users get cranky about that, because (as far as I’ve been told by MJ users) the cancer rate is not similiar to a smoker.

    But the reason MJ users get smoker rates does not have anything to do with ‘smoking tobacco’, even though the rates are the same.

    The reason MJ users get charged more than nonsmoker premiums is because MJ use is correlated with other insurable risks – anti-social behavior, criminal activities, schizophrenia, bad stuff like that. Not everyone of course, but in just small enough statistical numbers to make a difference. That difference in risk is about the same as smokers. So rather than have the real conversation about the specific insurability risks associated with MJ use, they just charge smoker premiums. Less questions that way.

    That’s what I was told by an underwriter at a life insurance company when I asked. So now you have to get the right answer on myownadvisor.ca and the wrong answer on CBC.

    1. I’m happy to provide more answers than confusion on this site Glenn, thanks for the rant! 🙂

      This goes back to your point about fact-checking. I have to wonder though, why are life insurance products so confusing and not more straight-forward? I’m not defending the (CBC) article but it’s easy to be mislead in anything in life when confusion and complications usually reigns and everything requires some detailed interpretation. It’s not just the life insurance or financial industry to blame on this, the same can be said for many more things in life: The world of law comes to mind. I’m just curious about your take….

      I get the premiums for MJ users should be higher, the same could be said for high-risk jobs. Everything in life has risks, it’s just on a continuum and there are many variables that need to be looked at.

      Just because you have a new car doesn’t mean your insurance premiums are automatically high. That is short-sighted but I can appreciate not everyone wants to look “into the weeds on things”; hence complications and confusion reign.


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