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In British Columbia, a couple we’ll call Sam, 52, and Linda, 50, are raising two children ages 15 and 11. Linda retired not long ago from a career in financial services. Sam continues as a manager in a niche of the property market. Together, they have monthly income of $11,429, before taxes.
Their goal is retirement when Sam is 60, in eight years, with a sustainable income of $4,500 per month. They have $3.32 million in assets almost half is their $1.5 million house.
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Try refreshing your browser. B.C. couple s retirement is secure, even before the pension plan kicks in Back to video
A fee-based account is where a fee is charged based on the market value of the assets being managed. This is distinctly different than a transactional account where commissions are charged for every buy and sell transaction. When clients open a fee-based account, they sign a fee-based agreement that establishes the agreed upon fee, how the fees are calculated, when the fees will be charged, and which accounts are to be fee-based.
There are a number of benefits for clients in moving to fee-based accounts. Working on a “fee for service” basis, rather than a commission or transactional fee basis, means the best interests of the client are more aligned with those of the Portfolio Manager. If fees are based on the market value of the account, then the only way a Portfolio Manager will be compensated more is if they can grow your account in value. If your account declines in value, then so does the compensation paid to your Portfolio Manager.
to stay safe, get creative and win $50,000 for a community investment project
TORONTO, Feb. 9, 2021 /CNW/ - Mackenzie Investments ( Mackenzie ) today announced the launch of Mackenzie Top Peak ( Top Peak ), a new national competition and call to action for ski communities across the country. Mackenzie is searching for one ski community that s a little more invested in the people, place and sport they love – and isn t afraid to show it across social media and through fun local challenges, all done in a safe and socially-distanced manner.
Top Peak seeks to inspire ski communities across the country during challenging times. The winning ski hill s Top Peak team will be rewarded with a $50,000 investment in their community, the Mackenzie Crown and bragging rights. In addition, Mackenzie will offer secondary prizes of Registered Education Savings Plans ( RESPs ).
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GATINEAU, QC, Feb. 3, 2021 /CNW/ - The COVID-19 pandemic has tested Canadians in many ways. However, as Canadians work together in the fight against COVID-19, they must continue to plan for the future. For some, this includes saving for their child s education after high school. Supporting families and at-risk communities, and making it easier for them to prepare for life s important milestones, is a core part of the Government s plan to build a stronger and more resilient country.
That is why the Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, today announced up to $6.7 million in funding for Phase II of the Canada Learning Bond Pilot Project, supported by a public call for proposals to choose partner organizations. Through this investment, the Government of Canada will fund projects to help increase awareness of the Bond and reduce barriers to access so that children who need it most can benefit f
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In Ontario, a couple we’ll call Louis and Kathy, 48 and 43, respectively, are raising 13-year-old twins. They bring home $6,730 per month including the Canada Child Benefit. In this family, Kathy is the principal breadwinner. She works in technology. Louis, formerly a football coach, is unemployed. He has not worked since the beginning of 2020.
It’s been a tough year, for Kathy was also laid off in the spring. She got a severance package, then found a new job with higher pay than her former job provided. Her income is now $130,928 per year before tax. Her pay boost made up for the $30,000 Louis used to earn before tax.