Some very heartening news yesterday when the April Consumer Price Index numbers revealed that inflation had dropped again to 2.7%, down from March numbers of 2.9%
This is significant progress from two years ago ( June 2022 hit 8.1% ). Inflation trending ( down ) is beginning to meet the Bank of Canada's expectations and there is again some hope of a rate cut in June.
A cautious prediction ( mine ) though, is that we'll see the first rate drop in July.
Over the last couple of years, one of the significantly increased costs I have personally noticed is the cost of the lowly shower grab rail.
Why do I track the grab rail, rather than say, food or gasoline?
It's because I was the one who purchased the grab rail that my father and I installed in my grandparents home when they moved to Ontario from the UK, many years ago.
I have since learned that seniors incur 230,000 hospital visits annually as a result of slip and falls in the tub. The grab rail still seems like a pretty cheap defense against potential injury.
Like I said, I paid for the grab rail, a few dollars at the time, but my father paid for the shower seat, the chairlift, the house and the bedroom extension, all so my grandparents could age in a nice place, gracefully and independently.
What about people you know or even family who want that grace and independence? What if their children can't pay for the renovation or perhaps the care required to age in place?
The simple answer is to let the home take care of them. There are cost effective mortgage solutions that preserve equity and protect investment assets while adding meaningful peace of mind.
There's a lot to consider and many options - I'm happy to work with anyone you know that needs a partner to understand the details of what's available.
Please don't hesitate to reach out, I am an age appropriate ally in the financing journey.
Thanks for taking the time to read!
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