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“Al l Hill) Lfllllfllt u ' Wednesday. lebruuy :5, £008 ' I7 OF P . 0W about HBttlllQ both . f0r2 to You re a parent and that fllt‘dll\ two things lune grant money You can access the additional l in and lllidllt es are always tight \I \l\ l \ ‘ (iraut it your household Income rs under $731“) llus year .is the tune to the tax deadline raprdly ‘ . . btrt lfyou don‘t apply the grant ”room“ does not shrinks and the holiday bills t orrtrrrue to pile up, \l()\ l‘ Carry forward , you may also be Lit rug this i ourmou dilemma. 7 .-.. [be 2007 Rllbl’ deadline h rust around the i or See the ; \ ‘ should we use our limited financial resources to "" . rrer so start saung rrglrt now [hat way, you ll be ' - fl ‘ an e tor tt'tltt'tlrt'lll through Registered Retirement r“ able to make your maxurruur RRSl’ torrtrrlruuou C'aS?IfIEd if Sayings Plans rRRSl‘sr or to save for our children‘s '5 , this year land maybe even fill up some or all of your sectlon ' _- i 3 edm anon through Registered imitation Savings ‘ 1 ' leftover contribution roorri from previous yearsl , i :- l’lans rRl.\l’sr“ 1. i' and get a nice tax deduction ,,. which is extra for m i ‘ » 1 Here s the easy answer do both by making ' .. trroney that you‘ll be able to invest in your child‘s 3_ \our RRSl’ ct intrrlrutron lit-lore let). :8 and using RESP to help offset the rising cost of education. m..."- ‘ the resulting tax refund to make an RESP corrtribu- Plus, your child‘s RESP will benefit from as much I \ tron You‘ll get double the benefits because your ' "free" government money as possible and will also ’5 . child‘s lllzsl’ will likely entoy the additional advanr be allowed to potentially grow on a tax~deferred ; ‘ rage of free cash from the federal government in the basis urrtrl your child enrols in education after high i lorrrr oi a (antrda lzducatton Savings Grant. , school. . ' lt‘s a wrnrwrn-wru situation because: Your professional advisor can . - When you make your rrraxrmum allowable RRSP contribu- help you take full advantage of this and other . Q '9 tron by the 3007 deadline. you Will gairr immediate tax-savings taxrsavrng. income»building opportunities to from a resulting tax refund. feather your retirement nest and get your 0 Pard directly rtrto your child‘s RESP. the Canada Education young scholars off to the best start in life. Sayings (irant Kills Grant) provides each eligible child with an * additional 20 per cent in tree grant money on the first $2,000 of an annual RESP contribution to a yearly maximum of$400 and a ' - lifetime maximum of $7.200, liven ifyou were unable to make This column. written and published by FOR LIFE m LAW enough ol'an RESP contribution to access the CBS Grant money Inveslors Group I-‘inancr'alSertrtces Inc, v - ”Mu h... In previous years. you can make up for it this year (or in future present general information only and is not I A :37. $27177." years] and got the grant money your child would have received a solicitation to buy or sell any investments. '_ in those earlier years. (11mm! Russ McEachnr'e ar519~886»2360, ;. - More recently, the government made an additional CliS ext. 241 or email him at 7": RemeMber' (irant available that could add up to another SIOO a year in free Russell.mceachnie@r'niestorsgroup.mmi . “I! m at. sadly “ohm k M I m h . . . . y fl-qfiombhflquflpnfimw DiverSIfied portfolios can carry less nsk m .0 ,9. mm .. an mm“. my 3 0 I“ a n In. tap-h or as dog can. l‘or most investors. 2008 was that can be set up for as little as averaging. K" owe-WM: one of the most difficult years in $50a month. What this means is investing a ‘ aha-m- memory, Also, regular contributions to set amount of money on a regular g o Dali-u and“. . a in haunt-land... Global stock markets posted a your RRSP throughout the year schedule. whether it's weekly. 5, significant decline in the second alleviate much of the pressure of biweekly or monthly. to take 7: Minn-11- [5.” ' “My.“ "-3.” halfofthe year. making lastAminute decisions dur- advantage of the lower share ti; ”I“ “A“. “Mk-“Ur.“ But from a long-term perspec~ ing the hectic frenzy of RRSP sea- prices. fig 7M-‘7u rive. history teaches us that son, Spreading your contributions Because the purchases are :53 For men minimum; visit m.umev.ca/rehyu a! smug-use. economies and stock markets are throughout the year gives you the made automatically and for a set - ‘ W, ‘_ K, \ resilient and inevitably recover benefit oftime, allowing more time dollar amount, you will be purâ€" ,. (9% RECORD “V “a M from such downturns. for your money to grow. chasing more units of a fund when ; 4‘ 5'35"“ “W A diversified portfolio. with a The earlier you begin to save prices are low and fewer units 1 . 2 WM variety of investments. can carry during the year. the longer your when prices rise. - g 69 _ (”My less risk. it‘s less likely that the money is working for you, Dollar cost averaging takes the WWM‘WM'MMWM whole portfolio will decrease in guesswork out of predicting the {<3 mm value Tips to drinkaboutasyou 'best" time to buy. ‘ g . ‘ i , ' :3??qu a”, in? 7 With proper asset allocation make deddom about your - Make sure you have the right ’ _-‘ ,1,_.{:‘:;3'ii""“ " “ . "V“? *- :7 and disciplined investment plans, RRSP contributions: "“ , :9;,;5( . 3‘ ' ' it: short-term events often have a - Take advantage of dollar cost Continued onpage 18 " "w A 1‘: fingK minimal effect on long-term goals »fi. ' .“3: K or aly‘ellt-halanced financial plan. must - one; - on (at: no - Jl‘rl - PASU will; - xiii tr - mum? . "Y, ‘ . 7. re iegurning of the year is ,: E ; hectic enough without having to j; ‘ LAT," & moo" y ' ‘ worry about making a large contri- : DANCE cusses Q} 7' z. A button to your Registered Retire» 2' WP NOW! $® " merit Savings Plans :RRSl’l before b“ 3‘ 3 . . . ;, “Scubaâ€"nu Q [ht deadline. . a.“ 6‘“ in rill - ’ Make your new year‘s rcsolu» » 1 \.\'%Q 2" ’ 3 ‘~ h ‘ tion easy to keep this year by com- ‘ .. ‘ Bk ' L l V at: ":‘g, . mitting to make regular monthly '7 " L ' . 5,” ‘. contributions to your RRSP "“ ‘ I . ’59 {'- throughout the year. I - mummmmuu mimic-ad. - l \ ». '1' \‘K You can make monthly c0ntri~ ‘. - ukulele-am mun-4M \ 9"} ~‘\ \ “‘ butions easily and conveniently b (519) 8370230 m _- V. \ with l’ . ‘h ', ' . .. . .1, .. .Hlyt Hm. ‘I"lv v.4 m. _.,__ i - - r p e au orrzed deductions (e'em‘e :. 1 ‘ : ‘ as," back .1 3 80°/ SAVE UP TO 0 FOR MARCH BREAK 8. 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