No matter how healthy and hardworking that you are, life can always hit you with sudden emergencies that can throw you off course. Some of these emergencies can be predicted and prepared for. People are living longer and as your parents age you need to be prepared emotionally and financially to care for them. Stress and anxiety can effect all of us and it’s important to seek care before it gets out of control. You also need to be prepared financially for any inheritance you receive, invest wisely and make it last.

Key Takeaways:

• Unfortunately, we are all likely to experience a parent who becomes ill and/or passes away, and over the next decade or so will see many people step into caregiver roles.
• According to the Centre for Addiction and Mental Health (CAMH), one in five Canadians experience a mental health issue in any given year, making it a leading cause of disability.
• With life expectancy being higher than ever before, many Canadians will need to ensure they have enough money to fund their retirement years so they can live the type of full lifestyle they want.

“Life, and death, happens. It struck me that what tied these two experiences together was the lack — and importance — of preparation. This got me thinking about several life events that will be trending over the next several years as baby boomers age, but that impact each of us, and why it’s critical that we’re ready.”

Read more: http://www.huffingtonpost.ca/cathy-preston/financial-planning-emergency-preparation_a_23368527/