A10
WEDNESDAY, September 8, 2021
www.kamloopsthisweek.com
OPINION
On Sept.10, join others and light a Flame of Hope REBECCA SANFORD
SPECIAL TO KTW
Sept. 10 is recognized internationally as World Suicide Prevention Day (WSPD). WSPD is an opportunity for the community to come together to promote understanding about suicide and catalyze changes that prevent suicide and alleviate suffering for those impacted by suicide. Suicide is the ninth-leading cause of death in Canada overall and the second-leading cause of death for youth under age 24. The impact of suicide ripples out to countless individuals, families, groups and communities. Suicide is complex and, if we’re being honest, it often evokes uncomfortable feelings. It can be difficult to know where to start, so below are simple actions you can take on WSPD and every day to contribute to the cause. The Canadian Association for Suicide Prevention (CASP) will be hosting a virtual online event
this Friday at 11 a.m. on this year’s theme of “Creating Hope Through Action”. Register online at suicideprevention.ca to take part. Help raise awareness through social media. CASP publishes a toolkit for individuals, groups and communities to use and it includes images and resources that can be shared on social media. Visit the CASP website to download tools to spread the message about WSPD and suicide prevention. Light a candle by a window on Sept. 10. People around the world will light candles at 8 p.m. on WSPD as a sign of light in the darkness. The candle shines as a beacon of hope for those who are thinking about suicide, those who are affected by the suicidal thoughts of someone they care about and those who are impacted by suicide loss. Learn more about suicide and consider the language you use to talk about suicide. Visit the website for the Canadian Association for Suicide
Prevention or the Mental Health Commission of Canada to learn more about suicide, dispel myths and become familiar with suggested language to use when talking about suicide. For example, the term “committed suicide” comes from a time when suicide was criminalized. The term is considered stigmatizing. We now suggest using terms such as “died from suicide” to reduce stigma. Donate to suicide-prevention causes. Although the need is incredibly great, Crisis Services Canada continues to struggle with consistent funding to ensure the resource remains available. Consider donating to organizations that support suicide prevention and help those in need. Reach out to someone who might be struggling. A leading theory of suicide suggests that people often experience suicidal thoughts when two difficult feelings occur at the same time — a sense of disconnection from
others and feeling as though they are a burden on people they care about the most. Often, fear prevents us from taking action — fear of not knowing what to say, fear of putting the idea in their head (the research says that this is not true), and fear of not knowing how to respond if someone says they are suicidal. While bringing it up can be difficult, you can simply start with, “I know you’ve been going through a lot lately. I want you to know I’m concerned about you.” Many times, being heard and feeling connected can help alleviate feelings of suicidality. You don’t have to have all of the answers, but you should be prepared to help find resources and information if needed. Have the resources listed below on hand in case immediate support is needed. Help someone create a life worth living. It’s not enough to prevent people from dying by suicide. We have to support everyone to
create a life worth living. Think about what you can do to create a sense of community and encourage people to get involved in activities that are meaningful and life-sustaining. FIND INFORMATION • Canadian Association for Suicide Prevention: suicideprevention.ca • Mental Health Commission of Canada: mentalhealthcommission.ca • For immediate crisis support anywhere in B.C.: 1-800-SUICIDE (784-2433). • For immediate crisis support anywhere in Canada: 1-833-4564566. Rebecca Sanford is a clinical social worker, researcher, educator and suicide loss survivor. She works as faculty in the TRU School of Social Work and Human Service and is also the loss survivor chair on the board of directors for the Canadian Association for Suicide Prevention.
Back to Basics: 10 Financial Planning areas to review Life has been anything but normal lately between the COVID-19 pandemic and the added stress of wildfires in BC. Many priorities may have taken back seat as we navigate these incredible obstacles the past several months. As we strive to get back to "normal", it can be timely to review your finances, highlight any areas that might have drifted and get back on track. Here is a 10-point checklist to help with your review, in no particular order:
TFSA? Have we maxed out RESP grant monies for kids/ grandkids? Many are not able to fill every bucket, so where should they prioritize? Are your monthly savings automated to ensure they remain a priority?
• Debts: Debts can be a top stressor on families. Reviewing to see if there are any opportunities to reduce credit card debts, lower interest rates, or review your mortgage details could save hundreds of dollars a month. Given the increase in property values, is there potential to consolidate debts into your mortgage? It is paramount to get out of credit card debt as fast as possible.
• Retirement Plan: When was the last time you or your advisor updated your plan to ensure you are on track? What assumptions are being used and are they still accurate? Are any adjustments required given the changes many have faced over the past 2 years?
• Savings: How much are you saving and for what goal? Depending on your objectives, different savings vehicles may make more sense. Should we be using an RSP or
• Family Budget: Household spending may have drifted over the past few months. Do you have a budget and track your expenses? Revisiting spending patterns is important to highlight where changes can be made to help achieve savings or debt-reduction goals quicker.
• Investment portfolio: Given the strength of the stock market recovery from COVID-19, how has your portfolio fared? Is it time to rebalance? How much risk are you taking and is it appropriate? Does your portfolio align with your objectives (e.g.: retirement plans)? How much are you paying on fees? • Will: Wills are encouraged to be reviewed every few years, or after any major life event (divorce, birth, death, marriage, etc.). Extra consideration is often required for blended families. Sadly, we have seen instances where procrastination in estate planning has caused major issues.
representation agreements and health care directives are in place and up to date. We also encourage sharing this information with relevant family members • Beneficiaries: This includes reviewing RSPs/RIFs, TFSAs, work plans, pensions and insurance policies to ensure all are up to date. Many of these can flow outside the estate and Will, which can typically avoid income tax and probate. • Insurance: Reviewing all life, disability and personal property policies is recommended. Is your coverage adequate for your goals and increased cost of living? • Tax planning: Were any recommendations made by a tax professional? This could include RSP contributions or opening a spousal RSP, income harvesting for small business owners or retirees, or charitable donations to name only a few. While not an exhaustive list, we feel this is a good place to begin reviewing your personal circumstances and what positive changes can be made to strengthen your financial position. As always, we strongly encourage working with a trusted and knowledgeable advisor. Written By Keith Until next time… Invest Well. Live Well.
• Power of Attorney (POA): While reviewing your Will, it also makes sense to ensure your POA and/or
Eric Davis
Vice President & Portfolio Manager eric.davis@td.com 250-314-5120
Keith Davis
Associate Investment Advisor keith.davis@td.com 250-314-5124
TD Wealth Private Investment Advice
daviswealth.ca
This document was prepared by Eric Davis, Vice President, Portfolio Manager and Investment Advisor, and Keith Davis, Associate Investment Advisor, for informational purposes only and is subject to change. The contents of this document are not endorsed by TD Wealth Private Investment Advice. Davis Wealth Management Team is a part of TD Wealth Private Investment Advice, a division of TD Waterhouse Canada Inc. which is a subsidiary of The Toronto-Dominion Bank. For more information: 250-314-5124 or Keith.davis@td.com. Published August 25, 2021.