Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 17, 1973, Winnipeg, Manitoba Winnipeg free press thursday. May 17, 1973 slide ii jonqui15he, quo. Up the Coroner s inquest into the mud which took the lives of 32 persons at St. Jeun Vian nay quo., in May 1971, has been adjourned until september. Coroner l. A. Laliberte said the adjournment would allow him to study a 70-Page report on the slide presented tuesday by or. Pierre Laro Cheue a Laval University geologist. Marc Andre Bedard the lawyer representing 400 and delay would allow his client to decide if they would present evidence. In earlier testimony or. Larochelle said the slide was an unpredictable totally natural phenomenon whose causes were totally foreign to All human he said the slide at St. Jean Vianney appears unique in geological history in that it took place inside a Crater formed by a lava flow 300 to 500 years hours slipped into the Kivior Aux vases tributary of uie Saguenay leaving some of die survivors of the slide homeless. St. Jean Vianney 120 Miles North of Quebec City was evacuated after the slide and residents relocated in nearby 1 by kaon Kiich free press political heir ter fun flon Man. Liberal Leader Izzy Asper Lias proposed the construction millions of dollars Worth of new roads in Northern Manitoba to build the tourist potential of the area into a million a year Industry. Speaking at a press conference Here to release his party s new Northern policy or. Asper said tourism is the key to Northern development because it provides alternative boost ment to the existing Northern mining industries. All of Manitoba now gels about million u year in tourist revenues us a result of a advertising budget. Or. Asper proposed that the budget be raised to about million a year which would bring the province s tourist revenues to million a year of which about million a year would be spent in the North. The province he said would get Back in taxes about cents of every tourist Dollar making the initial investment in advertising and new roads Well worthwhile. In addition to releasing the party s Northern platform following a meeting of Liberal nominees from Churchill he pert land and flan flon As Well As a party representative from the Pas or. Asper spoke at the party s fun flon nominating meeting which endorsed the candidacy of de Martel 49, a mine planning Engineer a Israel s merchant Marine Fleet has grown from four ships in 1948 when the nation was founded to 320 vessels. A common sense guide to investing How to invest now for Early retirement i Merrill Lynch Royal securities shows you How to tailor your own pension plan or add to the one you have set your own retirement Date and save tax dollars into the bargain. Retirement at 55, for example May or Hay not be for you. But retirement is in your future. And no matter what you earn today you re going to need More in actual dollars to live at your present Standard in or 30 years from now. While you la probably receive government pension benefits and an income from your present company pension plan neither of these sources of retirement income is Likely to offer the flexibility you need to retire when you want or the extra dollars to retire Early. So do you provide for Trio so extra dollars to supplement your pension and allow you to retire when you want you Start now. You set aside extra dollars. You invest them in the Stock Market. You reinvest their earnings. You aim for an growth rate. And once embarked on your Early retirement investment stick with it then when you re ready to retire you buy an annuity and use the monthly payments to supplement your income. But How much should you invest where should you invest in stocks Bonds or Mutual funds How Long will it take to build the nest egg you la need to retire on these Are questions your Merrill Lynch Royal securities account executive can help you answer. But before he docs hell ask you a lot of questions. How old Are you now if you re 30 now 55 is a full Quarter of a Century away. But if you re 45, you have just ten years to build toward the income you la want to retire at 55. Chances Are you la go about building that income quite differently from a 30-year-old. After All com pounded Over 25 years grows much More than it does Over 10 years. Of course not All investments you can make show that kind of return. As with any investment the rate of return is generally proportionate to the risk taken. So your age now is important. It helps determine the kind of investment portfolio that will come closest to meeting your retirement needs. How much do you need to retire on one Man s necessity is another s luxury. No one can Tell you How much you la need when you retire. You have to decide that for yourself. Here s How. Use the table provided right and Start with the age at which you want to retire the number of years Between now and then and your current annual salary. Subtract All the expenses you re not Likely to have once you retire expenses like the mortgage the Chil Dren s Upkeep and education costs. Whatever you have left item is a rough estimate of the income you la need when you retire except for inflation. There Are bound to be other things you la want to consider. You should talk to your Merrill Lynch Royal securities account executive about them. Hell help you work out a personal retirement plan. Hell be Able to Tell you about the different kinds of annuities available and help you decrease the bite of inflation even further. How much will your existing pension plan give you most canadians arc eligible for the Canada pension plan. Eight now this pays up to a maximum of each month from age 65. The Basic old age pension is s100 a month now. Both could be higher when you retire. You can t take either the Canada pension plan or the old age pension before 65. But Don t forget them in your figuring. The dollars they pay represent either a decrease in the amount you need for retirement after 65 or added income that could help combat later inflation. Many canadians Havoca pension plan through their jobs. Find out about company pension plan today. The people in the personnel office can help you. They la be Able to show you How to figure what you can expect from that plan if you retire at or 65. Now go Back to the table and subtract what your existing plan should pay you item from what you think you re going to need. What you have left is the extra amount you re going to need each year at least until you re 65 and your government benefits Start. How much must you save the Chart above right estimates How much income you can expect for each you have available to buy an annuity depending on your retirement age. Say for example you figure you la need an. Extra each month and you want to retire at 55. Accord ing to the Chart below you d need to put about into an annuity at 55. Then you could expect a month for As Long As you live. Approximate monthly income available irom an annuity to a for each si000 Cash available. 10 year guarantee age last birthday 40 45 50 55 60 65 70 monthly income 6.60 7.00 7.45 8.00 8.60 9.35 ars slightly because they longer Hie expectancy. Inflation Index assuming a3% Peryear rate of inflation and com pounding in 5 years the Index is 1.1593 in 10 years the Index is 1.3439 in 15 years the Index is 1.5580 in 20 years the Index is 1.8061 in 25 years the Index is 2.0937 How to estimate your desired retirement income i want to retire at age _ which is _ years from now. My. Annual salary now is s when i am retired i expect the follow ing expenses to disappear annual mortgage children s expenses children s education _ other s totals a _ 2 estimated annual income needed deduct 2 irom s 3 assuming an inflation rate of 3% per year in _ years i will need multiply 3 by the appropriate figure taken from the inflation Index at left s 4 my pension plan at my chosen retire ment age should pay me an annual a which Means i will need deduct 5 s on a monthly basis that is Divide 6 by 12 5 6 in the last 20 years inflation has averaged Over 3% nor annul. In the next 2o years it could be lower but it could also be higher. So multiply the income you think you la need by the appropriate figure in the inflation Index above. Now you know roughly How much you la need to live on during your first year of retirement item because the above table is a simple one the figure you come up with will Only he an estimate. I estimate i will need month to retire at age in years. I would like advice on How to build the retirement investment portfolio i need i currently have an Asp d i currently do riot have an Asp d i would like More Asp information d 1 would like a copy of How to invest d name__._____________--------------------------. Address a City code. Phone our customers please identify account executive. Mali to Early retirement dept. 05, . Box 31, Toronto Dominion , ont. M5k1c2. And if sounds like an impossible amount read on. If a 35-year-old Man were to put about each month into Tocki Bonds or Mutual funds that averaged a growth rate of he d have Cash by the time he was 55. And if each month sounds almost impossible ask your Merrill Lynch Royal securities account executive about registering your securities. You should have an hip anyone who is investing Money and paying income tax should have an Asp. With an Asp registered retirement savings plan you can Register most Canadian securities up to a maximum of s 1000 each year depending on your income and your existing pension plan arrangements. And you Don t income tax on the dollars you invest. If you re in a 40% tax bracket and invest a month s2040 each year in an Asp you la get an annual tax rebate of so you have Only invested from your income after taxes. That s a month which thanks to the tax break is the is 70 a month you need. The government allows this because it wants you to be adequately prepared for retirement. It allows you to invest and earn income on dollars you would otherwise give to the tax Man. So anyone Olio pays income tax should consider putting us much i Kiln an Lisp is government allows. You Don t pay income tax on rsi2 dollars until you take your retirement income unless you cancel earlier and then you la probably he in a lower tax bracket. So remember when you and your Merrill Lynch Royal securities account executive Start building your retirement investment portfolio Register As much a your income and Oiler pension arrangements allow. If you find you need to invest More each year than your full Asp allowance Tell him. He can show you a lot of common sense ways to invest for retirement. Nowise the time to Start building for your retirement. If you fill out and mail the Coupon below Well help Yon plan your retirement investment portfolio. More information if you d like to find out More about investing whether for retirement or some other purpose Send for a copy of How to invest. Just Check the appropriate Box in the Coupon. And if you want to find out More about reps Check the other Box. Well Send you the 33 questions asked most about reps together with All 33 answers. With Hudson Bay milling and smelting co. Or. Martel told about 100 people at the meeting thut he is running As an Independent Liberal although to supports or. Asper because he wants to be free to vote for Legisla Tion that will Benefit his area should the liberals be in opposition after the election. We cannot afford to bypass legislation when it s of Benefit to the people of this he said. Or. Asper said lie has no qualms about or. Martel s in dependence and he is confident the liberals will get More scats in the North than any of the other parties. While progressive conserva Tive Leader Sidney Spivak is pinning his Hopes for election Victory on the North or. Asper said he will be Lucky to win even a single scat. The Northern votes he said completely rejected the progressive conservatives in 1989 and Aren t about to turn Back to that parly. Or. Asper also criticized the present member of the Legisla Ture for flan demo crat Tom Barrow As being silent for four years and then using abusive language when he finally did say something. You need a better la Hail you be he said. T h e Liberal Road building program for uie North consists of improving and repairing sex i s t i n g roads including the completion of paving of major routes the Snow Lake Highway and building a North Ern Circle route running through Thompson Lynn Lake and flin flon. As Well he nosed that highways g and 10 be linked across the top of Lake Winnipegosis from the Pas to Basterville. A Road should be built North Ward along uie East Shore of Lake Winnipeg eventually reaching As far North As Chur chill he said. Or. Asper said the Federal government would pay most of the Cost of such a Road under its roads to resources program. In conjunction with the Road building program he said appropriate camping areas and service areas should be built with government Loans. There should be a new provincial Park in the Thompson Lynn Lake flin flon Triangle he said. Other planks in the nordic in platform include immediate commissioning of a feasibility study on the possibility of shipping Oil southward through the Chur chill corridor. Ecological considerations could be discussed after Manitoba has been assured it has first priority for Sulci a project he said. An equalization of Hydro electric throughout the province so that the North and Rural Manitoba pay no More than Winnipeg. Or. Asper said this need not m can that Winnipeg rates would have to be raised especially if the Churchill Stiver diversion is proceeded with and there arc substantial Power sales to Hie United states. 0 an income tax rebate sys tem for northerners to compensate them for the higher Cost of living in the North. One sur go lion put out by or. Asper was a lax exemption for travel. A special fund for sports recreation and culture set aside from the proceeds of flip Manitoba sweepstakes especially for the North. A Northern educational Centre offering first year University courses As Well As other Post secondary education. Better health services for the North including special Mobile surgical and dental teams and family planning centres. Freight rate equalization for the North to allow secondary Industry to locate there without facing financial penalties in shipping their product to mar Ket. Or. Asper said the North now gels Only Worth of govern ment services for every personal and corporate taxes collected by the province and the time has come to give the area a better return for its tax dollars. Unfortunately the North is too often treated As something Peculiar or Distant a place to be exploited for its Mineral and natural resources but not a place for investment in the development of a secure stable Community. The North must not be treated As a parking lot for Southern Manitoban who come stay a while and then go away ii said promis ing that the Liberal approach would mean stable communities with new Industrial development that would provide a broader economic base. These Manitoban will be your Liberal candidates in the next election Rhineland Harry Friesen Farmer in . Of Stanley real estate Salesman former executive Winkler Curling club Swan River Vic Mearon lawyer and president of Swan River big brotheis1 organization Shriner Elmwood Ray Brunko. Monument dealer on boned of St. Gerard s school Knight s of Columbus is seven Oaks Henry Froesch High school teacher seven Oaks school division member West Kildonan Library Board Merrill Lynch Royal securities limited Victoria Vancouver Cal qty Tim onion Peg a. Winnipeg Hamilton Toronto Ottawa Montreal Quebec City Saint John Halifax Charlottetown is. London England Lola by meeting sealed in june the rotary clubs of Saskatchewan Manitoba and North Ern Ontario will hold their an Nual District Assembly and con fore Nee june 7 to in win Nipes. Among tic events featured during the Turco Day Assembly will be the governors Ball in the hotel fort Garry a Friendship refreshment h o u r and a costume cruise Oil the cd River. The june event Marks the first Lime in 10 years the District Assembly has met in Winnipeg. Riel Art Gill Industrial sales representative and president Manitoba soccer association ;