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it i ii iit i ihtju wmktdebmhumy2a997pu its your future invest in it continued from page 10 spousal rrsps are one of the last simple incomesplitting oppor tunities available for couples either legally married or living common- law the purpose is to try to balance incomes when the money is going to be withdrawn from the rrsp so the couple as a whole pays less tax two 30000 incomes are taxed much less than one income of 60000 stevens uses this example to illus trate consider sue a self- employed computer consultant who earned 100000 in her first year who is married to tom a teacher who makes 50000 a year who if either spousal rrsp to try to balance retirement income from all sources explains stevens in this example about 80 per cent of canadians make the wrong spousal rrsp decision which actu ally increases toms retirement income making the problem worse t j may be necessary to get help i tof a financial advisor to esti- jl lmate your retirement income from all sources however it is crit ical to get it right the first time because once its done you cant change it since most couples dont have perfectly balanced retirement incomes almost every couple should use a spousal rrsp to prop erly balance retirement incomes to reduce their tax due then the correct spousal rrsp deci sion wont make any difference in your tax refund now says stevens but it will make a huge differ ence in the amount of tax you pay at retirement of these two should c o n tribute to a spousal rrsp stevens says most people think that sue with the high- f e r income should but what retirement income does selfemployed sue have none while the teacher has a lower current income he has a much higher retirement income because of a good indexed pen sion the critical point is to use a the critical point is to use a spousal rrsp to try to bal ance retirement talbot stevens financial educator speaker and author of financial free dom without sac rifice bankruptcy ollh0tmykickel reusthmmmurror personal business bankruptcies personal proposals 4h97143m 27 brim si kawim ms 45431 momasle scasboeowra 417577ss s teuton att oskffijm m557ti92 mgmsirate f593tttt 30mniaot 75721418 93wfarom3 start tucking it away now and rest easy when you retire right now is the best time to plan for a financially secure retirement i can show you how free initial consultation call noel doharris at 18003872098 investors group building futures since 1940 ipst ipjjjlljiytaflpw v mt 5 ww silt feppjto htk sffllilffllj q is it true that if i contribute 5000 to my rrsp i will receive 2500 back in tax savings b norman thornhjll a the amount of tax savings your contribution is worth depends on your marginal tax rate the rates are approximately 27 on income up to 29590 41 on income from 29590 to 59180 and 50 on income over 59180 if your taxable income stays over 59180 even after making your 5000 rrsp contribution then yes you will save 2500 in tax you can fax your questions to investment insight at 2948880 or call dan galszechy or john niekraszewicz of fortune financial corp markham 2941200 education investment workshop marek tanana rib ont date monday jan 27th feb 3rd time place 7 pm markham library hwy7 main st your host marek tanana call9054728130 to reserve your seat now 24 hour service confused about where you should be investing your rrsp questions you should be asking the bank or mutual fund salesperson this year ask q what guarantees are the advisors offering you this year ask q is my mutual fund creditor proof ask q can i crystalize my gain in any year ask q can you make my rrsp self completing if i am sick or disabled to find out the answers to the above questions that the bank or mutual fund salesperson wont tell you about attend one of my work shops mct financial estate planning confirm your attendance seating is limited 24 hr reservation free 905 4728130 seminar rrsp strategies with garth h1turner national bestseller exceptional advice for unsettled times one per family garth turner is a best selling author national magazine columnist financial editor of bbs television and as minister of national revenue ran the countrys tax system sponsored by topics covered include rrsp strategies for genxers boomers seniors how to turn your real estate into a retirement fund the top 15 winning retirement strategies how to find an advisor you can trust what happens if they tax rrsps sunday february 2 1997 130 pm embassy suites hotel markham markham ballroom seating is limited call today to confirm your attendance 188821 5- pl an 24 hours