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Damages from Ida included wrecked pipes and insulation torn away by the winds. Meanwhile, Royal Dutch Shell Plc’s refinery and chemical plant north of the city will remain shut for several more weeks so repairs can be performed, people familiar with the operation said. The damages may complicate Phillips 66’s efforts to find a buyer for an asset it was trying to unload before the storm because of “market conditions and the evolving energy landscape.” A 9-foot wall of water punched a hole in the refinery’s protective levee and inundated the plant. 28, the day before Isa slammed into southeast Louisiana with ferocious winds and drenching rains. The refinery, which can process more than 250,000 barrels of crude a day, was shut on Aug. Company spokesman Bernardo Fallas said there’s no operational update or timeline for restarting the facility. They can live well if they make a commitment to some equity investment or slowly starve with a pile of cash earning approximately nothing.(Bloomberg) - Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation.Ĭhief Executive Officer Greg Garland is scheduled to visit the Alliance refinery in the suburb of Belle Chasse, Louisiana, next week, said the people, who asked not to be identified because the information isn’t public. I would suggest that they get a feel for stocks or real estate rental. “If we add the lost returns on $500,000 at 4 per cent for 10 years, that’s $200,000 with no compounding. There is not even money for home repairs in their budget. At present, there is no life insurance for the survivor when one partner dies and the other has less government pension income. These costs would be affordable without increasing investment returns but more affordable with years of good living before any care is needed, Perreault adds. Long-term care insurance can be had to provide $2,000 monthly coverage at a premium cost of $2,400 per year for either man at age 65. If Alzheimer’s is involved, the cost could be $240,000 to $360,000 for 8 to 12 years.
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If care were to cost $2,500 per month for as much as 3.4 years, the average time it is required according to the Canadian Community Healthy Survey, the outlay would be $102,000. That additional money could also be used for long-term care, Perreault notes. It would also go a long way toward fulfilling their goal of a $10,000-a-year travel budget. That money could be used to replace or upgrade their aging cars- a 15-year old pickup truck and a foreign compact of similar vintage. File:Magikarp-jump.jpg: Merchant: An RPG-Clicker hybrid in which you are. Retire a fully leveled fish to make all future fish grow faster. Upgrade your stuff so the fish grows faster. Compete in jumping contests to get more money for upgrades. If the men can get a blended return of 7 per cent before 3 per cent estimated inflation, their $512,000 cash would add 4 per cent or $20,500 a year to their pre-tax income. File:Idle oil tycoon.jpg: Magikarp Jump: Feed your fish berries so you can make it jump higher.
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However, either solution - the real estate investment or purchase of financial assets - would be better than letting cash sit at 1 per cent to 2 per cent in a chequing account or a short-term guaranteed investment certificate. accounts to be transferred would be sensible provided they spend it or get a better return. Even doling the money out now as a form of tax averaging from their $512,500 of cash in RRSPs and the U.S. Inflation, after all, is running at a few per cent a year - the exact amount depending on how you parse headline inflation with everything measured or core inflation that excludes food and energy. But that is self-defeating in the long run. Cash feels secure to the men and is in the short run. Yet taking on a lot of capital risk at this stage in the men’s lives would be precarious and wrong, Perreault says. Its really basic, but it looks like itll take quite a while to get all of the achievements (which boost the profits of your properties or how fast they. Leaving $500,000 in cash earning at most one per cent in savings/chequing accounts is a gift to the bank that uses the money, lending it to others at what may be double digit interest rates on credit cards. Eddy needs to check his RRSP space to handle the transfer and the potential transfer should be reviewed by a tax professional, Perreault advises. The amount will be reduced by Canadian foreign tax credits provided they have enough income tax payable in Canada to absorb foreign tax credits. plan provider will withhold 15 per cent of the sum transferred, but that charge will be claimable on their Canadian tax returns. This advertisement has not loaded yet, but your article continues below.