The Globe and Mail – Financial Facelift by Dianne Maley


“Liam is a lightkeeper, Arlene an artist. Together, they live an idyllic life on an island off the B.C. coast. He’s 53, she’s 59. They have a 23-year-old son who is out on his own.  While the hours of a lightkeeper are long, their housing is provided by the government, casting Liam’s $47,000 a year salary in a better light. Arlene’s earnings are variable. Liam has been working for the government for only 16 years, so his pension will be modest; Arlene has none. Arlene and Liam have two main questions: How much do they have to save to retire with an after-tax income of $50,000 a year? Can they afford to buy a second home on the West Coast and rent it out until they retire without having to sell the duplex?  We asked Brinsley Saleken, a financial planner at Macdonald, Shymko & Co. Ltd. in Vancouver, a fee-only financial adviser and portfolio manager, to look at Arlene and Liam’s situation.” Click here to read the rest of the article

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