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9 A18 - The Canadian Champion, Tuesday, February 14, 2006 RRSPs are a good investment at any a (NCOI-A Registered Retirement Savinga Plan is one of the moat effective waya ta build your retirement neat egg. The money you contribufe as tax deductible and the incarne accumulatea tax-tree until ita wifhdrawn tram the plan. According ta Altamira lnveatment Services, there are many good reasons ta atari your RRSP early: 20s ta mid 30s Starting in this age range will pay off handsomely dawn the road. Even a small amount of money saved and invesfed W. now will have more time ta compound. And while the pri- mary raie of an RIRSP is ta aave for refîrement, in certain cases, you can use the tunda for other purposes without penalty. For example, the Home Buyers Plan (HBPEI allows tirst-time homebuyers, or persans who have nat been hameowners for tive years, fa withdraw tunds tram their RRSPs ta purch ase a e home, with no incarne fax payable on the amount wifhdrawn. Photo courtesy of Metro crea Mid 30s fa laie 40s At this stage, you may be wondering k whether you should psy off your mort- gage instead ot confributing ta your % RRSP. There la a smart, fax-eff icient way ta do bath however. Make the maximum possible contribution ta your RRSP and then use your tax refund asI an extra payment on yaur mortgage. Mid 40s ta late 50s Like many people af this age, you may feel if's time ta catch up on aaving for retirernent. Now la the time fa con- tiuethe maximum fa your RIRSP every year, and fa, fake advantage of any unused contribution room carried over tram paat yeara. You might con- aider borrowing money ta make a îarg- A R er RIRSP contribution. The money yau inveaf now will have more time ta grow. You can use your fax retund ta a secu help psy off the boan, and paying off (0 the RRISP boan on a monthly basia la a * O good torm ottforced savinga. funds 60s and beyond * corn Thia la the time ta atart planning fa canverf yaur RRSP f0, a aource of refirement incarne. If you turn 69 thia year, current incarne fax rulea require that you must convert your RRSP info a retirement incarne option by the end of the cafendar year. While you may rely an your inveatmenfa for income naw, you atill need fa have some growth in your portfolio. You need ta keep pace with inflation and make sure your money asta throughaut your retirement. Information and anawers an inveating klm@orn enuac are readily available anlIme et altami- ra.çom, or toll-free f 1 -800-263-2824. ~ - rive urapnics (905 875-1000 Lot Us NâIpYom: * Make regular monthly contributions for 2006 and future years. " Transfer your îtwestment funds, terni deposits, or GICs coming due. "* orwn to top up your RRSP. Loans'aviable et prime wtth defWred fàOgend deferred payrnent -ptions. Use-~ the Sit R.eLoSPe DEADLNE The R.R.S.R% Advantages offered by Bob Lee & Kim Mitchell etirement Financlal Speclallst office wlth 31 years i exporlence and the coffeo's nover beon botter! rity of investments up to eo fund guarantees) )etltive segregated and mutual rlic vlth m-muuuEs-mtw a )etitlve GIlC. iriterest rates " Personalized ongoing consultations " RARSAR lans available at "prime" ýwlth deferred payments " Appointments available Saturdays For More Information Pieu., Contact Us Aàt: Robert (Pie) Lee Insurance Agency (905) 878-5786 ~com CALL FOR NOOIBLIATION CONFIDENTAI CONSULTATION BSC.,BBA., EPC ix ouroer eurnce.com >PI« e S'Itu 0èmI. 9 .3Fa:<O> 739 si a& àu" ii