Today I wanted to talk to you about “odds”. Not the opposite to “even”, but what are the odds of an event happening. It amazes me the amount of people who always seem to be in front of me at the variety store either checking their lottery numbers or dropping $50 bucks to get the numbers for the next draw. Just imagine. Yes, just imagine that the odds of hitting it big with the lottery are about 13 million to one. Did you know that you have a better chance of being struck by lightning or to do the math you would have to be struck by lighting 22 times to equal the odds of winning big in the lottery. I find it intriguing that most people still spend billions of dollars each year for the chance to hit the “big one” but don’t spend their money to protect themselves and their families with events that can happen much more often.

Did you know the chances of getting cancer today are about 3 to 1? That means that out of every 3 people you know, one of you will be diagnosed with cancer in your lifetime. Yet, how many of us have purchased critical illness insurance? Sure you won’t get millions from your insurance company but $50000-$100000 or more would certainly help their family in this time of need.

Did you know that a 20 year old will have a 3 in 10 chance to de disabled for 90 days or greater in their lifetime? Do you have coverage’s in place that will take care of your family if you can’t work?

Did you know that 1 in 3 of us will die from heart disease? What steps have you taken to ensure that your family will be taken care of in your absence?

I know that you’ll lose the anticipation and excitement of the chances you will actually win the lottery and the dreams of how you’ll spend this “win fall”, but you can surely find some peace and solace in knowing that in the event of an unforeseen illness or injury that, financially, things will still be okay.

I like most people play the odds every day. Do I get a higher deductible on my car insurance to lower my premiums taking a chance I won’t get in too many accidents? It’s a choice we all have to make day in and day out but please take my advice and put your money where it will help you and your family the most.

Use the odds in your favour, start today and plan for a long and healthy tomorrow.

It makes cents to me.

Will Carey Financial Planner at FamilyLendingFinancial.ca.