With tariffs and counter-tariffs in effect globally, the trade war has entered a dangerous new phase for the economic health of Canadians.
As I noted in a recent column, investments have held up reasonably well so far. But the actual implementation of tariffs has shaken financial markets, and will affect the broader economy as well. Some big risks looking ahead are higher costs for everyday goods like food, the loss of jobs and income and declining opportunities for advancement in your career.
Where do you see the biggest trade war financial risk in your own life? Help me understand what you’re up against by taking this short, anonymous survey. I’ll report back later on the results.
A recent opinion piece was published in The Globe and Mail with this ominous headline: Canada, be prepared for hardships not seen in generations. A negotiated end to the trade war is possible, but we do seem to have reached a pivotal moment in the building of the Canadian economy. What worries you most about the future?
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That’s what we’re living in, according to a well-researched and alarming article in Maclean’s. Technology is driving the fraud problem, as is the deviousness of criminals.
A look at what forecasters see happening to the Canadian dollar this year as a result of events in the economy and the trade war. The outlook cannot be described as bright, but it’s worth noting that our buck has risen off the lows of earlier in the year.
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My wife and I are both retired teachers. We still have a mortgage of $400,000. We have term life insurance that will expire soon. If one of us dies before the other, the mortgage and other house costs could all be covered by the survivor pension of the other. However, life insurance to pay off the mortgage would mean a more affluent lifestyle. Is there any advice on how to decide whether life insurance is recommended for people over 60 in our situation?
Note: A joint first-to-die term life insurance policy would pay a death benefit when the first partner passes away.
Do you have a question for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.
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A look at the differences between money orders, certified cheques and bank drafts.
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