Debt: The Reality & Finding Freedom

It’s a brave new financial world out there, we find ourselves in the midst of a (western) world that seems to run predominantly on credit. Governments borrow in order to fund various programs and portfolios (legitimate and [arguably] otherwise). To put this into perspective, Canada’s federal debt as of this writing is listed at approximately $615,558,402,601.79. Small businesses borrow in order to open storefronts, hire employees, and market to potential buyers. And on a micro level, we (as families and individuals) buy things with plastic, we borrow money from various banks and institutions to purchase houses and new vehicles. And we accept substantial loans from provincial and federal governments so that we can fund our educations.

To get a touch more specific, debt can be divided into the good, the bad, and the ugly.

“Good” or “Neutral” Debt

This form of debt revolves around monies borrowed in order to do things such as:

*Build long term equity.

Property and (conservative/low risk) investments generally tend to fall under this category

*Become skilled in an area (or areas) of prospective employment.

Obviously there is a substantial cost to most universities, trade schools and colleges (more every year, in fact)

*Remain competitive in the workplace

Very much connected to the last point, there is a cost often associated with “continued education”; again however, these courses tend to raise your “employability”, as well as your job “staying power”.

“Bad” Debt

When it comes to bad debt, the adage applies here: if you don’t have the money, don’t buy it. Saturday Night Live conveys this truth brilliantly in their 2006 sketch, “Don’t Buy Stuff You Cannot Afford”. And while we all “know” this truth theoretically, it bares repeating: the 70 inch smart television can wait; the new leather sofa can wait; the hot tub (sadly) can wait.

Ugly” or “Unforeseen” Debt

Finally, this article would be remissed if it didn’t mention the unforeseen or, “when life throws you a curveball” debt. Unfortunately, these are scenarios for which we can never fully prepare. They include but certainly aren’t limited to the loss of employment, which obviously leads to the loss of one’s income. And though these scenarios aren’t anyone’s fault (necessarily), they do quite often lead to short or long term borrowing.

The Reality

The reality is, The majority of us have lived with some form of debt for more years than not. We’ve entered into various financial contracts, often, without knowing the full scope of our impending commitment; we’ve paid into these accounts for, what seems like, a lifetime; and we’ve chipped away at our premiums while shelling out thousands of dollars in interest.

It can often feel as though there’s no way out. It’s no wonder the reality of living with debt is often likened to that of sinking in quicksand, in that, the more we struggle and fight, the deeper we sink.

There Is Hope

For many of those close to, entering, or firmly within, retirement age, debt has and will continue to hinder any and all freedoms associated with, what are supposed to be, the “golden” years. Additionally, those individuals with debt are more likely to return to work after their “first retirement”. Unable to balance the books, these folks find themselves in situations where they’re working much later in life.


What if there were a way to climb out of your debt, good, bad, ugly or otherwise? What if there were a way to stop paying thousands of dollars in interest? What if there were a way to have the weight of owing money lifted from your proverbial shoulders?

With a CHIP Reverse Mortgage, living a debt free retirement can be a reality! How? A CHIP Reverse Mortgage allows homeowners aged 55 and older to access up to 55% of the equity in their home. There are no monthly payments ,and best off all, there is no income verification or credit checks.

So if you find yourself behind on your bill payments, and you feel trapped because you don’t really have a good income, the CHIP reverse mortgage was designed specifically for you. Borrowing the equity in your home through a CHIP Reverse Mortgage will allow you to stabilize your bottom line and will provide peace in a life that is financially unbalanced. Creditors can be paid in full, vehicles can be paid off, and bank accounts can be filled up!

Debt can be unavoidable; This is simply a byproduct of the world we live in. Even those who live strictly within their means can be bitten. 

But debt also doesn’t have to follow you into your retirement years.

There is a way up and out.

Contact me today and let me walk you through your options.

Contact Me Anytime!

Use the form below, email me at, or call me directly 604-862-8526.

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Sabeena Bubber


Head Office

213 -1455 Bellevue Avenue,
West Vancouver, BC
V7T 1C3

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