Quick beach vacation or critical illness insurance?

turquoise blue water and white sand beach
Of course, I’m doing the insurance.

I’ve taken an annual vacation (seven days) in October for the last four years.

An extravagance. Considering I always go away in August and December. The tradition ends this year.

I’m trading the beach for critical illness insurance. The cost of the vacation is equivalent to about a year’s worth of premiums.

It’s not cheap. But my money coach is recommending it and I’m doing it. I’m now exploring options with a terrific Vancouver-based insurance agent. There are lots of things to consider, beyond the OMG-cost of monthly premiums. Whether I can even qualify is up in the air. I should be able to, but who knows? We’re talking about insurance companies here.

I’m also meeting this week with an investment company that comes highly recommended. I’ve got another meeting the week after.

I’m not giving financial advice, but if you have mutual funds, find out what’s you’re paying in management fees. I’ve got some that are charging more than two percent and it’s costing me thousands of dollars annually. My plan is to get the fees well below that amount. I’ll be dumping the chartered bank that’s holding my RSP and TFSA.

This will help my retirement income outlook. So, I’m trading the beach now for later.

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