W HEN WE THINK OF WELLNESS, we most often think of physical wellness. At Speakwell, we believe there are other kinds of wellness such as financial wellness and community or global wellness. To that end we are including a financial section in each issue along with some very worthwhile causes under the heading of "Global Wellness" that we invite you to consider. Take a look at each one and decide if there is something you could throw your support behind.
"The concept of total wellness recognizes that our every thought, word, and behavior affects our greater health and well-being. And we, in turn, are affected not only emotionally but also physically and spiritually." :: Greg Anderson
Financial Wellness Part II – Laying a Strong Foundation
by David Mason, CRP, RHU
WHEN BUILDING A HOUSE, the most important step isn't choosing the right countertops, paint colour or light fixtures, it's laying the foundation. The foundation is what everything else in the house rests upon. When a storm hits, the quality of the foundation is what keeps the house standing firm.
When building a strong financial future, it is equally important to lay a strong foundation. Achieving financial wellness isn't just a matter of accumulating as many assets as possible; it also includes protecting the assets that you have.
So what are those assets that are worth protecting? Quite simply, YOU! Your ability to work and earn an income is one of the most valuable assets you have. It's likely more valuable than the house you live in. To give you an example of just how much you are worth, consider a 40 year old who earns $70,000 per year. If he was to become permanently disabled, he and his family stand to loose $1,750,000 over the next 25 years.
Just like you insure your car, house and other possessions against financial loss, it makes even more sense to insure your income against loss should you become sick or injured. If you had a goose that lays a golden egg, which would you insure, the egg or the goose?
Life insurance is also an important contributor to a solid financial foundation. The tax-free death benefit from the insurance can provide your loved ones with often much needed money when (not if) you die. The insurance proceeds are often used to pay your outstanding debts, taxes, provide for your dependants, and make charitable bequests. Since death is something that is guaranteed to happen to all of us, doesn't it make sense (for your beneficiaries sake) to insure it?
Laying a concrete foundation doesn't just involve pouring a bunch of concrete. It takes careful planning and consideration of the potential threats to the structure such as strong winds, floods, fire and earthquakes in order to build a foundation that will stand firm over time. Take the time to carefully build your financial foundation; you owe it to your family and to yourself.
David Mason is a financial advisor in Victoria, BC. He is a Certified Financial Planner and Registered Health Underwriter. He can be reached at david@donnellyadvisors.com ».
ONLY ONE CLICK A DAY on a button at the Hunger Site » and you will freely have given someone in need a cup of food each time.
The Hunger Site was founded to focus the power of the Internet on a specific humanitarian need: the eradication of world hunger. Since its launch in June 1999 [this is its 9th Anniversary!], the site has established itself as a leader in online activism, helping to feed the world's hungry. On average, over 220,000 individuals from around the world visit the site each day to click the yellow "Click Here to Give—it's FREE" button. To date, more than 300 million visitors have given more than 573 million cups of staple food.
BY REACHING OUT TO ONE ANOTHER we can help to make a difference in our community.
The Community Safety and Crime Prevention Council (CS&CPC) of the Waterloo [Ontario] Region is inviting people throughout the region to "Reach Out" to each other in an effort to increase community safety. Reach Out » is the next step to the popular "Say Hi" campaign of 2004 and will be introduced across the Region starting Monday, June 5, 2006 with transit shelter, newspaper, radio and television advertisements.
"We know that connected communities are safer communities," said Irene O'Toole, Chair of the Community Safety and Crime Prevention Council. "'Reach Out' is about making our community safer by connecting people to one another. When we care, understand and respect others, we create a safer community."
A list of 101 Ways to Reach Out can be found on the website » which provides additional research and background information on the CS&CPC and the "Reach Out" campaign. This site will also be an interactive source for members of the community to discover new ways to connect with others, share their experiences, and will offer tips and resources to learn more about crime prevention. All campaign material is also available on the website.
"Building a strong, caring community is one of the most effective crime prevention tools. When a community is connected, it is more readily mobilized. " said Irvin Waller, Chair of the Canadian Forum for Crime Prevention. "ItŐs exciting to see the Waterloo Region leading the way in making community-based crime prevention a reality here in Canada."
About the Community Safety and Crime Prevention Council
The Community Safety and Crime Prevention Council (CS&CPC) is a multi-disciplinary group of people who actively engage in community safety solutions by involving the whole community in crime prevention. CS&CPC members come from many different sectors within the Region of Waterloo. Representation includes the community-at-large, social service organizations, education, health, planning, justice, corrections, police, media, community and neighbourhood support agencies and political representatives.
he and his family stand to loose $1,750,000 over the next 25 years.
»
