@calmmoneycoach: What insurance do you actually need when you're starting out in Canada? At 27, a couple's paycheques until retirement can add up to about $4.8 million after tax. Their savings are $15,000, and the only thing they've insured is their phones. Leah is a nurse with disability cover at work. Marc is a self-employed electrician with none. I ran them through my insurance app: if Marc couldn't work, the gap is about $750 a month with Leah's pay coming in, and about $4,300 if he lived alone. Your partner's paycheque is the first insurance you have. The minimums I'd think about at the start: 1. Protect your paycheque first, with disability cover where you need it and cash sized to your own risk. 2. Pay yourself first, automatically, and know roughly where your money goes. 3. Invest simply, globally and cheaply, in a mix you'll hold when it drops. A 2 percent fee instead of 0.2 can cost about $135,000 over 35 years. 4. Get a power of attorney in place. 5. Ask anyone selling you anything how they're paid. Whole life can usually wait. More at calmmoneycoach.com #insurance #personalfinance #canada #investing #moneytips

Brian | Calm Money Coach

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Region: CA

Monday 09 November 2026 22:00:00 GMT