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Remove Snow and Ice Safely from your Roof
2008-03-17 18:45:00
Roof structures may collapse due to snow or ice, particularly if the load is unevenly distributed on the roof. Heavy snow and ice loads accumulate easily between, for instance, adjacent ridge or arch roofs and on flat roofs. Snow and ice loadAlthough snow and ice loads are typically largest in March, they may accumulate at any time during winter, depending on weather conditions.Check the roofs While a visual examination reveals endangered roofs, a dented roof structure implies an imminent danger. Warehouses, sheds and light-structure roofs especially should be inspected on a regular basis, and snow load must be removed if necessary. How to remove snow from the roof If it is possible to remove the snow with a snow rake instead of getting on the roof, please do so. Remove snow evenly from the different parts of the roof. If you remove snow from a ridge or arch roof, an equal amount of load should be removed from both sides of the roof. Do not pile snow from upper roofs on lower roofs....
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Beware of home insurance exclusions
2008-03-16 23:24:00
BEWARE OF EXCLUSIONS:WHAT YOUR HOMEOWNERS INSURANCE POLICY DOESN'T COVERDon't wait until disaster strikes to find out what your homeowners insurance policy does not cover. Take the time now to familiarize yourself with the exclusions outlined in your policy. If you come across something you don't understand, ask your insurance representative for more information.Exclusions are specific hazards or situations for which your insurance company will not provide coverage.Common exclusionsBelow are some of the potential causes of loss (also known as "perils") for which most insurance companies will not provide coverage:Damage caused by wear and tear, rust, corrosion or gradual deterioration. Water damage caused by flood, underground water or water that enters through cracks in your foundation. Damage arising from the freezing of indoor plumbing. Note: If you are away from home for more than four consecutive days over the normal heating months, you must drain the plumbing or arrange to h...
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New Crash Tests for SUV's
2008-03-14 18:03:00
from the Insurance Institute for Highway SafetyNEW CRASH TESTS OF SUVs: NISSAN MURANO IS TOP SAFETY PICK;3 SUVs ARE MARGINAL OR POOR FOR PROTECTION IN SIDE CRASHESARLINGTON, VA ? The best overall performer in front, side, and rear tests of nine 4-door midsize SUV models is the redesigned 2009 Nissan Murano, which earns the TOP SAFETY PICK award. The tests were recently conducted by the Insurance Institute for Highway Safety.The Jeep Liberty, Jeep Wrangler 4-door, and Kia Sorento, all 2008 models, are the worst performers in the side test. The Liberty, also sold as the Dodge Nitro, and Wrangler earn the second lowest rating of marginal for protection in side crashes. The Sorento earns the lowest rating of poor. The Mazda CX-7 and CX-9 as well as the Mitsubishi Endeavor earn good ratings forprotection in front and side crashes. All three would have won TOP SAFETY PICK ifthey had good ratings for protection against neck injury in rear-end crashes. Theseat/head restraint combinations i...
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Check Your Blind Spot and Leave Yourself Some Room
2008-03-13 18:32:00
A few driving tips from the Ministry of Transportation of OntarioAlways Check Your Blind Spot When driving, keep your eyes constantly moving, scanning the road ahead and to the side. Check your mirrors every five seconds or so. When using mirrors there is an area on each side of your vehicle where you cannot see. You may not see people or vehicles when they are in these spots. Make sure you see other drivers and they can see you by doing the following:keep a clear view when driving. Do not put anything in your windows that will block your view.the windows should not be coated with any material that keeps you from seeing out in any direction. Neither should the windshield or front door windows be coated to keep someone from seeing inside the vehicle.check and adjust your mirrors and find your blind spots. Check your blind spots by turning your head to look over your shoulder before changing lanes, passing, turning or before opening your door when parked next to traffic.when making a ...
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Frozen or Burst Pipes
2008-03-12 17:02:00
The cold weather can cause your pipes to burst or freeze.Billons of dollars have been paid out by insurance companies for water damage resulting from burst pipes.Here are a few suggestions if your pipes should freeze:Turn off the main stop tap ? usually under the kitchen sinkor near to where the main water supply enters your homeDrain all cold taps throughout your homeKeep the house warmIf you know where the pipe is frozen, place a hot waterbottle on it or fan heaterCall a plumber What if a pipe bursts? Turn off the main stop cock ? this will stop any more watercoming into the house and hopefully reduce the pressure ofthe leakOpen all cold water taps to drain the system ? DO NOTOPEN HOT WATER TAPS as the hot water cylinder couldcollapse if the pipes feeding it are frozenGet buckets to catch remaining waterTurn off the central heating system and let any solid fuel heater die downTurn off electricity if sockets or appliances have been affectedRemove any articles that may be damaged a...
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Insurance Coverage & Older Homes
2008-03-11 19:31:00
from the Financial Services Commission of OntarioINSURANCE COVERAGE ISSUES AFFECTING OLDER HOMES Did you know that... If your home is over 30 years old, your insurance company may require you to upgrade the plumbing, electrical and/or heating systems in your home prior to providing you with or renewing your homeowners insurance policy. Buying an older home If you are looking to purchase an older home that has galvanized steel plumbing, 60-amp electrical service, knob and tube electrical wiring, a wood-burning stove or a fuel oil tank, make sure to factor the cost of necessary upgrades into your offering price! Your insurance representative will be able to advise you on what upgrades may need to be completed prior to obtaining homeowners insurance coverage. Your insurance company's concerns with galvanized steel plumbing Galvanized steel pipes, commonly installed in homes prior to 1950, have an average life expectancy of 40?50 years. Over time, the galvanized steel pipes begin to ru...
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Kids on the Farm - Safety tips
2008-03-10 19:20:00
Farm and ranch worksites present lethal hazards to young children. According to data from the Canadian Agricultural Injury Surveillance Program (CAISP), from 1990 to 2000 there were 109 fatal agricultural injuries to young children (aged 1 to 6 years) in Canada. Over 84 percent of the children were related to the farm owner/operators. Of those killed, 79 percent were boys.Across Canada, three causes of injury accounted for almost 79 percent of the fatal agricultural injuries to children: bystander runovers, extra rider events, and drownings. Bystander runovers and extra rider events are usually fatal. When small children clash with powerful machinery, their injuries are so severe that there is negligible chance of survival, even if immediate medical care is available.Bystander (or "blind") runovers are by far the most common cause of agricultural fatalities among young children, accounting for almost 34 percent of the deaths. These runovers occur when children playing in the farm or...
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Ontario Automobile Policy - Newly Acquired Vehicles
2008-03-08 23:53:00
How much time do you have to let your insurance company know that you have purchased a new vehicle?If you have an existing Ontario Automobile insurance policy in force, newly acquired automobiles are automatically covered on your policy for a limited amount time. Below is a portion of the OAP1 wording regarding this section of the Ontario automobile policy.From the OAP 1 (Ontario Automobile Policy ) '2.2.1 Newly Acquired AutomobilesA newly acquired automobile is an automobile or trailer that you acquire as owner and that is not covered under any other policy. It can be either a replacement or an additional automobile. The replacement automobile will have the same coverage as the described automobile it replaces. We will cover an additional automobile as long as:-we insure all automobiles you own, and-any claim you make for the additional automobile is made against a coverage we provide for all your other automobiles.Your newly acquired automobile(s) will be insured as long as you in...
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Fire Prevention & Safety Tips for the Kitchen
2008-03-07 20:26:00
Follow these tips for safety in the kitchen If you leave the kitchen for even a short period of time while you are frying, grilling, or broiling food, you should turn off the burner/stove.Never cook when under the influence of alcohol, drugs, or medication.When you cook, wear clothing with tight-fitting sleeves. Loose-fitting clothing is more likely to catch fire from a stove burner.If you are simmering, baking, roasting or boiling food check it regularly, and stay in the home.When young children are present use the back burners. Keep a 36" "safety zone" around the stove for children.Spilled food and grease from burners, stove tops and oven should be cleaned up to prevent a fire.If a small grease fire starts in a pan smother the flames by carefully throwing a DAMP dishcloth over the pan (make sure you are wearing an oven mitt). Once it's smothered, turn off the burner. Watch this video for a great demonstration! When heating food in the microwave use only microwave-safe containe...
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Canadians and the basics of insurance
2008-03-06 16:53:00
Poll suggests Canadians don't understand the basics of insurance.A surprising number of Canadians lack a basic understanding of some of the most fundamental concepts of insurance, according to research conducted on behalf of the Insurance Bureau of Canada (IBC).In a study of 3,220 Canadians, undertaken by the research firm Pollara, only a small majority (58%) of respondents knew that when a person pays for home and car insurance, the insurance company pools the money with other people's premiums in order to pay claims for all of a company's customers.A total of 41% of respondents incorrectly believed their money was:set aside to cover future claims by the individual who paid the premium (14%);used in some way unknown to the survey respondent (26%);used in some other fashion (1%).Only 28% of respondents correctly defined the word "indemnity" as "providing financial compensation for losses." Almost all (90%) of Canadian policyholders interviewed expressed confidence they had the ri...
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All Terrain Vehicles and Kids - Safety Tips
2008-03-05 19:08:00
All-terrain vehicles (ATVs) are motorized vehicles with three or four wheels and large, low-pressure tires. They are designed to be used by a single operator in off-road areas, not on public roads. They can weigh up to 272 kg (600 lbs).ATVs are not safe for children and young teenagers, who don?t have the strength or skill to handle them properly. Still, many kids do use them, especially in rural or remote areas. Each year, many children and youth are seriously injured or even killed while riding an ATV.You would be surprised to know that in Canada, nearly 25% of ATV-related deaths are among children under 15 years old.More than one-third of serious injuries from ATV crashes are among children under 15 years old. ATV injuries have been reported in children as young as one year old.How can ATVs be used safely?You?re more likely to be injured on an ATV if you don?t use it properly. If you?re a parent who owns or operates an ATV, you can model safe behaviour by following these guidelin...
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Play it Safe on the Road
2008-03-04 19:31:00
Tips To Avoid Aggressive Driving SituationsThe following tips will help you stay calm and protect yourself from aggressive drivers.Stay Calm Behind the WheelPlan ahead. Allowing yourself enough travel time will prevent a time crunch.Obey the rules of the road. Respect traffic lights and speed limits to ensure proper traffic flow. Identify alternate routes. Try to find routes that will enable you to avoid traffic congestion on busier roads.Just be late. Being late for work or an appointment is better than endangering your life or that of someone else. Drive sober. Absolutely never drink and drive. Keep the kids content. With young children, take regular stops and bring plenty of items to keep them occupied.Protect Yourself from Aggressive DriversDon't take it personally. Be polite, even if the other driver is not. If another driver challenges you, take a deep breath and move out of the way Keep your eyes on the road. Don't provoke an aggressive driver further by making negative eye...
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An Investment Primer
2008-03-03 23:33:00
Your financial advisor will suggest a mix of investments to build a portfolio for your retirement. The kinds of products your advisor suggests will depend on the licence he or she holds. For most Canadians, a retirement or investment plan is built on GICs, Canada Savings Bonds and mutual funds. Financial advisors who are licensed to sell mutual funds can sell these products. However, they cannot offer advice on stocks unless they are registered as an investment dealer.Some financial advisors are members of the Investment Dealers Association. They may sell a wider range of products, including stocks, bonds and more specialized mutual funds. While Canadians are becoming increasingly sophisticated about investment, not everyone is familiar with all these products. Here are some products your financial advisor may discuss with you:Guaranteed Investment Certificates: GICs, also called term deposits, are a fixed-term investment that pays a guaranteed amount on maturity. These are among th...

Insurance Fraud
2008-03-02 23:18:00
from the Insurance Brokers Association of OntarioInsurance fraud affects you, and you can help to reduce it.Insurance fraud drives up premiums for everyoneThe insurance industry estimates that 10 to 15 cents of every dollar paid in premiums goes to paying fraudulent claims-totaling more than $1.3 billion each year. This makes insurance fraud second only to the drug trade as a source of illegal profits in North America. Unfortunately, insurers have to pass these costs on to customers in the form of higher premiums.The industry is fighting the problemInsurers are doing much more than raising premiums to deal with the costs of fraud. A number of industry associations are working together to fight this problem.The Insurance Bureau of Canada,The Canadian Automobile Association, and The Canadian Coalition Against Insurance Fraud are just a few of the groups helping to promote public awareness, better business practices and improved investigative and enforcement techniques.You can be part ...

Vehicle Theft Prevention
2008-03-02 00:32:00
Prevent Vehicle Theft Did you know that two thirds of all thefts occur at night?Prime targets include late model cars, sporty models and high powered models. 60% of stolen cars had the keys left in the ignition.A variety of anti-theft devices are available to safeguard your vehicle.These include:vehicle immobilizing systems, hood locks, alarms, kill switches to prevent hot wiring, steering wheel locks, window etching, wheel locknuts, and transmission locks Install a tamper-resistant motion detector in your drivewayConsider buying smooth non-flared locking buttons for your car doors Do not leave your remote in the car, if your car is stolen, thieves have access to your garage (and then possibly into your home!) Engrave removable accessories such as stereos, CB equipment, telephone, etc., Install an anti-theft device to protect your stereo, or buy a unit that is removable and take it with you when you park. Make sure theft coverage is included on your automobile insurance policy. For...
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Flood Prevention and Cleaning
2008-02-29 19:57:00
Short of sandbagging the entire perimeter of your home, it?s practically impossible to stop floodwater from getting in to the house. However, you can take certain steps in advance that will minimize the damage and make cleanup and restoration easier. The following is a short guide listing some of the measures to take before, during and after a flood.Things to look at A reminder about your property insuranceRemember that flood damage isn?t covered in standard property insurance policies and payment of property damage claims are at the discretion of the insurance company. In most areas you can obtain flood coverage for an additional premium, something you should investigate long before a flood happens. However, water damage to your home from a burst pipe, water heater, etc, is usually covered. Getting public liability coverage, particularly for apartment and condo dwellers, is a must.Government flood damage assistanceFlood assistance is managed by the provinces via joint federal/provi...
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Travel Insurance
2008-02-28 20:23:00
Travel insurance is insurance that is intended to cover medical expenses, financial and other losses incurred while traveling, either within one's own country, or internationally.Travel insurance can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators. However, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies.Travel insurance often offers coverage for a variety of travelers. Student travel, business travel, leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured.The most common risks that are covered by travel insurance are:Medical expenses Emergency evacuation/repatriation Overseas funeral expenses Accidental death, i...
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Confirming a Car's True Identity
2008-02-27 21:40:00
The Insurance Bureau of Canada (IBC) helps police verify vehicle identification numbers (VINs) to ensure that recovered stolen cars get returned to their rightful owners more quickly, and that consumers can be confident about a car?s history before they buy.Vehicle identification numbers (VINs)All cars built for sale in North America since 1981 have a vehicle identification number (VIN) that consists of 17 letters and numbers. This is like the car?s fingerprint. A car?s VIN:is engraved on a metal plate on the driver?s side of the dashboard and in other places on the car;provides basic information about the car, including the make and model and where and when it was built;stays the same no matter how many times the car changes owners and license plate numbers;can be used to track the history of the car ? e.g., whether it has been in any serious crashes or been stolen, and how many owners it has had;is used by insurance companies to set accurate premiums; andcan help police find the r...
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Plan now to enjoy your retirement
2008-02-26 21:50:00
Like most Canadians, you likely want to retire happily and comfortably with personal and financial peace of mind.The face of retirement is changing, however, and no longer are we all retiring at the same age or even with the same dreams.Wouldn't it be nice to have a say in your retirement future?Whether you are just starting your career or nearing retirement, one of the goals of your retirement plan should be to make your money last at least as long as you do. Plan ning and investing during your working years will help ensure that you will be able to live comfortably in retirement. Your retirement advantage A Registered Retirement Savings Plan (RRSP) is one of the best ways available to prepare for your retirement. Contributing to an RRSP lets you save money by earning income on a tax-deferred basis until retirement. Plus, the contributions made to your RRSP are tax deductible up to certain prescribed limits, so they can help reduce the amount of income tax payable. Benefits of an R...
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Smoke Alarms Save Lives!
2008-02-24 21:15:00
Ninety-five per cent of Canadian households have at least one smoke alarm. That explains why fewer Canadians die in home fires than back in the 1970s, before this practice became widespread. Here are some tips on using them properly. Types of Smoke Alarms When buying a smoke alarm, look for the ULC label certifying the product meets Canadian standards. Smoke alarms can be electrically powered, battery powered or a combination of both. Whatever kind you have, remember that they don't last forever.Ionization type smoke alarms typically respond first to flaming fires. They are best suited for rooms which contain highly-combustible materials.Photoelectric type smoke alarms typically respond first to slow smouldering fires and are less prone to nuisance alarms near the kitchen area.For maximum protection, install at least one ionization and one photoelectric type smoke alarm on each level of your home. Safety Measures Install a smoke alarm on every floor. In apartments or bungalows, ins...
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Count Your Blessings - Literally
2008-02-23 19:26:00
Count Your Blessings - Literally There are some very simple ways to safeguard your belongings. One of them is to have a clear idea of what you possess.How many CDs and cassettes do you own? What's the make of your stereo system? Washing machine? Television?After a fire or theft, it's hard to remember every detail. A fast and accurate way to take an inventory of your belongings is with a video camera. A digital camera or tape recorder will work, too. Then give the photos or tape to someone for safekeeping, or save the data on your computer and keep a backup.You can also download and print our Personal Inventory Booklet to track your belongings. It's a simple and practical tool to help you update your personal inventory. Don't rely on an inventory you did two years ago.Keep valuables in a safe place.Precious keepsakes and other valuables, such as jewellery, are best kept in a safety deposit box. In case of loss your insurance can help with the monetary value, but their sentimental ...
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Top 10 Most Stolen Cars
2008-02-20 22:16:00
-from the Insurance Bureau of CanadaAutomobile theft is much more than an insurance problem; it's an expensive social menace. Every year automobile theft costs Canadians close to $1 billion, including $600 million for insurers to fix or replace stolen cars, $250 million in police, health care and court system costs and millions more in correctional services expenses. Thieves generally steal cars for one of four reasons:1. For sale abroad - Within an hour of its theft and with its VIN still intact, the car is packed in a shipping container and sent abroad with false export documents. Stolen cars are shipped to Eastern Europe, Russia, the Middle East, South America, the Caribbean, Africa and Southeast Asia. Upon arrival, these stolen vehicles are sold for many times their original market value. 2. For sale to unsuspecting consumers ? The vehicle may be given a new identity with a false vehicle identification number (VIN) to hide its origin. It will then often be sold to unsuspecting ...
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How to Read an Insurance Policy
2008-02-19 00:14:00
From the Insurance Bureau of CanadaInsurance policies are made up of several parts:Declarations identify:Who is insuredWhat risks are covered (listing of coverages included)Policy limits (limits of liability, deductibles purchased)The amount of premiumEffective dates of coverageAny other interests in the policyA list of form numbers and endorsements, which are sheets of paper attached to the policy that add to or alter that policyThe insurance company.The Insuring Agreements section states:What losses are coveredThe subject matter of the insurance and description of the property coveredThe perils insuredCircumstances under which the insured may receive the proceeds of the insuranceExclusions that eliminate specific hazards (i.e., what it does not insure). In order for a claim to be valid it must be covered under the insuring agreement and must not be stated as an exclusion.The Statutory Conditions section of the policy sets out the rights and responsibilities of the insured and the ...
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Driver Fatigue
2008-02-17 18:13:00
From the Insurance Bureau of CanadaDriver Fatigue: Are you driving impaired?Most people are aware of the dangers of drinking and driving but don't realize that driving while drowsy can be just as fatal. Like alcohol, driver fatigue slows reaction time, decreases awareness, impairs judgment and increases the risk of crashing.In fact, studies show that if you go without sleep for 18 hours straight, you suffer from a level of impairment that is equal to having a blood alcohol level of .05%. If you go without sleep for 24 hours, the impairment is equal to having a .1% blood alcohol level.At least 20% of Canadians ? an estimated 4.1 million people ? admit they have nodded off at the wheel in the past 12 months.Every year, more than 400 Canadians die and many more are injured because of drowsy or tired drivers.Why are drivers tired?There are many causes of fatigue and, where drivers are concerned, they add up to greatly increase the risk of a fatigue-related crash.Be aware that the follo...

What are you doing behind the wheel?
2008-02-17 03:16:00
From the Insurance Bureau of CanadaAvoiding Driver DistractionsDistracted drivers are just as impaired as drunk drivers. It?s a fact.The studies show ?Distracted drivers are dangerous drivers.Driver distraction is a factor in 8 out of 10 ? about 4 million ? car crashes in North America each year.1 Drivers talking on cellphones are in many cases just as impaired as drunk drivers.2 Experienced drivers are no better at handling the distraction of a cellphone than are novice drivers.3 Not only is distracted driving potentially as dangerous as driving drunk; it is, in fact, much more common.In 2006, an IBC-commissioned public opinion survey found that:89% of Canadians were very or somewhat concerned about driver distraction; but60% of drivers would not agree to stop using their cellphones while driving, despite being told that cellphone use made them four times more likely to be involved in a collision. How to prevent distractions from making you another accident statisticAvoid intense, ...
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Liability Insurance Coverage
2008-02-15 21:19:00
Can I be sued for more than the amount of liability insurance I purchase?Yes. Your amount of liability insurance is never disclosed to anyone during a lawsuit. If you are successfully sued for an amount greater than the limit of liability insurance you carry, you will have to make up the difference from your own personal assets. This could mean the loss of your home, investments, RRSPs and ultimately bankruptcy. That is why you should review your liability limits with an insurance professional to determine a limit that is appropriate for your circumstances.Why Should I consider Tenants Insurance ? If you rent a home or apartment, your landlord probably carries insurance on the property. But guess what? That coverage won't cover your possessions should something happen. Tenant Insurance protects you in ways four basic ways:Allows you to replace your property (furniture, clothes, appliances etc.) if it is destroyed, stolen or damaged Covers injuries that happen to other people or thei...
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What Type of Investor Are You?
2008-02-13 18:23:00
Risk ToleranceOne of the critical factors contributing to an individual?s investment style is risk tolerance. Risk tolerance measures an investor?s ability to withstand market ups and downs, both financially and psychologically. Most investors fall into one or a combination of the investing styles listed below:Conservative: looking at safe options for the long runModerate: looking for a balance between security and good returnsAggressive: focused on change and growthTo find out your investor type, complete your investor profile athttp://www.blueskyfinancialgroup.com/en /type-of-investor.htmlWhat Type of Investment?Conservative Investor For this investor, Guaranteed Investment Certificates offer a variety of investing options all of which are stable and guaranteed.Moderate InvestorThis type of investor wants the best of both worlds, and is generally willing to accept some investment risk in exchange for a chance to earn a higher rate of return. For these investors, Investment...

Preventing Winter Damage to Your House
2008-02-11 19:26:00
Winter weather can wreak havoc on a home?s structure through damage from bitter cold temperatures to ice, water, snow and even mould. Much of Ontario experiences cold weather, with snowfalls interspersed with multiple periods of melting and freezing. This can inflict considerable damage on homes.Some steps you can take to make insurance losses less likely during winter weather are outlined below. Keep Entrances ClearKeep sidewalks to your home free from snow and ice to protect visitors and delivery persons from slips, trips and falls that can lead to lawsuits. Keep Pipes from Freezing Keep the house heated to a minimum of 65 degrees. The temperature inside the walls where the pipes are located is substantially colder than the walls themselves. A temperature lower than 65 degrees will not keep the inside walls from freezing. Identify the location for the main water shutoff in your home. Find out how it works in case you have to use it. If your garage is attached to your house, always...
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Do I have enough Insurance?
2008-02-09 17:14:00
Have your needs assessed by a professional to determine the coverage you should obtain for material loss, death, disability, illness, etc.In the event of death, a life insurance policy may be essential for giving your dependants a replacement income or paying off your debts, such as a mortgage, or inheritance tax. Take the time to consider disability insurance since an inability to work can have serious financial consequences.Make sure that you have a policy that provides adequate coverage in the event that damage may occur to your home, your automobile and your other belongings.Visit http://www.blueskyfinancialgroup.com/ for a quote.Is there other coverage I should consider on my auto policy?Yes. There are a number of options for you to choose from that can enhance your auto coverage:Options Increased liability limits: Up to a maximum of $2,000,000Collision coverage: Covers damage to your vehicle in the event of an accident.Comprehensive coverage: Provides coverage for theft, fire,...
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Net Worth Primer
2008-02-08 20:09:00
What is Net Worth ?Your net worth is simply the difference between what you own (assets) and what you owe (liabilities). It gives you a picture of your financial health at a specific point in time. Completing a net worth statement at least on an annual basis will help you measure your progress toward achieving your goals. A Net worth calculation tool can be found at http://www.blueskyfinancialgroup.com/en/w hat-am-i-worth.htmlWhen should I update my net worth? Update your net worth calculation at least once a year in order to track your progress. How can I increase my net worth? Improve the rate of return on your investments.Invest more of your income by spending less and minimizing taxes.Reduce your debt by paying off loan and credit card debt and accelerating your mortgage payments. What is the "Rule of 72"? A simple rule of thumb for estimating how quickly your assets will grow. Take the number 72 and divide it by your rate of return ? this will tell you how long it will take to do...