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Single

Running a single-person household has a unique set of challenges. Not only is there the emotional pain of separation, a new host of financial problems can arise.

The absence of your partner can feel like someone removed a limb. Your other half is gone, and now the other half of the income is gone too. It’s like taking a 50% pay cut at work – except you have more responsibilities than ever before. The mortgage, groceries, and all the other bills still cost the same, but now you have only half of the money to pay them. If you have multiple children, juggling all of your time and energy can feel like an Olympic feat.

Successfully managing a single-person household involves recognizing the different priorities you now have. Some things you may have thought were optional before are now mandatory. Everyone knows how important life insurance is, but what about disability and critical illness coverage? This is something you may have waved off previously, but now, it becomes more important than ever before. If you suffer a serious injury, how will you take care of yourself or your children? Other health benefits may also become a priority. You may need help managing the financial issues of a divorce settlement or estate distributions.

Separation can feel overwhelming in every aspect of your life. A financial adviser can help you with some critical financial details so you can focus on recovering from your loss.

There will be a new tomorrow, and a trusted advisor can help you get there.

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This publication and website are intended for Ontario residents only and the information contained is subject to change without notice. Mutual Funds are offered and regulated through Global Maxfin Investments Inc. (GMII). Insurance products (including Segregated Funds) and Income Tax Preparation is provided under the name of Ausim Mobeen. GMII does not supervise these activities and will not be accountable, responsible or liable for such activities. This publication contains opinions of the writer and may not reflect opinions of GMII. The information contained herein was obtained from sources believed to reliable, but no representation, or warranty, express or implied, is made by the writer or GMII or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.