Page 18, January: 24, 1978 - North Shore News

By JIM ROGERS

If your income were to
~ increase by only 6% per
year, did you realize that
your earnings will double
every 12 years? :

°

-, It’s true! What's more, it is -

because of this. “magic of
compound interest,’

‘appreciation of its likely
effects on our need for
retirement income, that
many (perhaps the majority)

of us have not adequately

planned for a_ reasonable
retirement income.

The following example
will serve to illustrate the
possible magnitude of the
‘problem.

Ifa 28-year-old employee
is earning $14, 000 per year,
and if anticipates

. receiving increases of only
6% each year for the rest of
_his working life (i.e. until age
"65), by age 64 - the year
before the man is due to

on fast.

J
THE BEST THE WEST COAST CAN OFFER:

Office space is plentiful around Vancouver, but
Esplanade Centre stands unique: the ultimate
West Coast office, with a unique, architect-
designed garden environment.
ocean view from the front, a mountain view
from the back. There are baiconies and patios
and air-conditioning and covered parking. The
SeaBus Is a block away for easy (and enjoy-
able) access to downtown Vancouver. The
Harvest is handy for lunch. Cedar and greenery,
striking architecture, ultra-modern convenil-.
ences. Think about it—wouldn’t you really
sather come to work In a garden environment
than just another non-descript highrise?

But don’t think about it too long. Esplanade
Centre is the kind of great idea that'll catch

leasing agents - Pacific Strata Services Lta

retire - his earnings will be

$112,000, or 8 times what -

they are today!

Impossible? Unlikely?
Don't betjon it. _

Those of you who may

haye worked for 35: to 40

years (about the time our 28

_ year old has until retirement)
‘coupled with an incomplete _

are you now earning 8 times
as much as you were -when
you started working? Likely
more,

Those others who haven't

. worked that long, try and

recall discussions you have

. have had with your mother, —
father or grandfather where.

they might. have- said
something like: “When I
started working, only made
-—-- per hour”

_ How much was that? 25¢
per hour, 50¢ per hour, $1.
per hour? What does that
same (or a similar) job pay |
today? $5, $8, $10, $15 per
hour? Probably. Aren't these
incomes 8, 10, 12, 15 times

There's an

in

_ higher

Sandie
COPPOTUTELS

papers
largest
medium
taral
revenue

as much as 5 they used to be?
How long has it been since
they started working,
anyway? an

‘See the point? It has _$14,000 is

happened in the past -. why
should the future be any
‘different?

t+) =e s an RRSP?

If our friend wanted a
pension of $112,000 per year |
beginning at age 65 (don't
laugh - remember $112,000
‘will buy him only what
buying — him
today!) he would need_to
have accumulated - get ‘this -
about $1,000,000 (1 million)
dollars to o buy such a  pen-

Let's get back to our 28- sion!

“year ~ old friend. If he’s:
-earning $112;000 at age 74,

be assured that he probably
won't be rich by’ any means.
Remember, his income has

. Hard to believe
scary) isn’t it! It’s because of
numbers like these that my
only advice to people who

increased by only 6% per- say: “How much should I put

‘year to get-to this level. It's
likely, that the cost. of living
increased right alongside, if
not at an even greater rate.

‘The point is, the $112 000
per year is not likely * to buy
our-friend much more (likely

‘less, i in fact) than his $14,000

per year is buying him right
now. It follows, therefore,
that when he is retired at 65,

he'll tieed an income close to

the $112,000 he was earning
at age 64.

away for my retirement? “is
“As much as you can,
brother, as much as you
can.”

eonaeeee

(The above article - the
first of two - is an excerpt
from the book “Life In-
surance for Canadians” in
the Self-Counsel series by
Jim Rogers, a Vancouver
insurance consultant and
broker).

] B.<. No. 3

People ard leaving B.C.?
Don’ t you believe it!
—4

During the year cnding

June 1978 B.C. had the third

highest) population increase
Canada $0 per cent
higher than for the country
asa whole.

The provinee’s population
increased by 1.5 per cent to
2.530.200 compared toa
nationwide inerease of one
per cent, bringing Canada’s

“total to 23,481,100.

Ne

only areas
pe pulati jan

with oa
Increase

‘| in people race

awere Alberta (2.9 per cent to
1.950.300) and Yukon (2.8

per cent to 21,700).
Prince Edward Island
(popdlation now — 122,000)

tied with B.C. at 1.5 percent,

No provinee or

ierritory
shawed oa

decrease, but
Quebec (population
6.285.000) and = Manitoba
(population 1,032,400) recor-
ded the lowest increases --
O.1 per cent and 0.3 per cent
respecrivels .

(even

The largest -- and one of
the oldest -- shipyard
companies on Canada's west
coast took” 6n a new look
effective January 1.

The new look is a new
name:
Corporation.

The former names. of. the
company, Burrard Dry Dock
Company Limited on
Vancouver harbor in North
Vancouver, and Yarrows
Limited at Victoria, will now
disappear. In their’ place,
Burrard will become the
Vancouver Division of the,

Burrard Yarrows Cor-!
poration and Yarrows will
become the Victoria
Division.

_ Both shipyards have been
in existence for more than 80
years, serving the fleets of
the world in ship repair and
ship building. Nothing is
changed but the name.

The main reason for the

name change is to simplify

‘the operation of the two

companies and provide for
efficient administration. In
effect, the change reflects
the way the two shipyards
have been operating for a
number of years.

There have been. several
name changes during the

LOCAL PAPERS LEAP AHEAD

The dramaie growth in the
and) aeceplance at
Newspapers

daring the piste few vears as
Wightiehicd by recent figures
from, Seatisties Canada,

Thes show chat communion
dre tow the
print
atier
1977

second
advertising
daihes. Phe
advertising

of  communtis

L_] RRSP
(1 RHOSP

come.

ood

1978 tax.

|
—

nvestorb SYNDICATE LTD.

papers OSt4t. 2 miithion) was
larver than che combined
Adverusing revenue oat
WRU ZEOS, travche and
business papers, weekend
supplements cand farm
pubhcanons,

Communion papers are
hse bs far the fastest
growing prin’ medium in
crs ob adveriusing - witha

PO7E 7 revenue inerease of

* We can show you EVERYTHING you always
wanted to know about saving taxes

¢ Our book ‘‘How To Ease The Tax BSite’’ has
tisted 12 ways to legally reduce your taxes.

@ A qualified financial planner is available to
show you how to save taxés now and for years to

* Mali card tor your fi'ee book.
© Hurry there are only 43 days left to reduce your

[7

ee oe Os ee ee

Fred C. Snyder

a8

i

send Coupon or call:

Division Manager
Sulte 303 - 400 6th St.,
New Westminster, B.C.
§26-3725/926-0427

‘SAYS IF YOU CAN’T LIST 12
WAYS TO EASE THE TAX BITE YOU

NEED OUR SERVICES’’

[nna eve yous apesnrmtve deter iy Book and
Sohgatto your services. | understand there is no L
|

| Name '
Address a

| City ___. Postal

Company

|

|

\

1

Pr bo percen.

Compara te seven weur
eho he fietaes bor ce other
prem omredtat
HOW sSpPapers

were: chatls
1300 per cent,
magazines TO? percent. farm
publications 92 per cent,
rade and business papers 67
per cen. weekend

suUpp-
Jements P4 per cent.

Home Phone

NV shipyard
gets new name

a history | of the two

the

Burrard Yarrows .
‘its’ present site in ..Nc

panies.

Burrard was foun
1894 at False Creek: un
name of ‘Walla
Shipyard Ltd. a and. moved

Vanceuver in 1906.

In 1921 the nainé

name has ped, . om

the company was ‘bought
Burrard i in 1946.

..because
every child
has the _
right to
smile

1979
International Year
of the Child

Unicef Canada ®

Business Phone

—— YS TS I A NE mS GSE InN

L___-_-_--------

sore eure anceme ante eemee einiate eee SEE