B.C. couple want to leave a $2-million legacy to their daughter, but they need to get retirement finances sorted first

B.C. couple want to leave a $2-million legacy to their daughter, but they need to get retirement finances sorted first

B.C. couple want to leave a $2-million legacy to their daughter, but they need to get retirement finances sorted first Their portfolio of many investment funds and real estate adds complexity and management risk to their expectations Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Article content A couple we’ll call Ruth, 53, and Jack, 50, live with their child, Pat, age 16, in B.C. They bring home $8,016 per month from Jack’s job in the electrical industry, $3,650 from renting a basement suite in their house and a recreational property, and $700 in untaxed child support until Pat has a first degree. In all, that’s $12,350 per month. Ruth, a former marketing consultant, recently retired and is a homemaker now. Advertisement Article content Their expenses add up to $10,800 per month on average. Their largest monthly cost is $2,150 on their outstanding $197,000 mortgage for their house, which Ruth owns. They worry that when Jack retires in 15 years at age 65, their …
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