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jttvtffw-5i- flu i t r-rrr- st fcj i 1 1 i i m i i p i money talks tribunef ebwary 2 1997 pt3 former councillor brings knowledge to his own business by kate gilderdale correspondent in his days as ward 6 coun cillor ken prentice was known as a man who got things done prentice an experienced financial planner who has worked for a number of large corporations brings that same thoroughness and drive to his newly opened business ross dixon financial services on ringwood drive he is a qualified chartered life underwriter chartered financial planner and a fellow of the insurance institute of canada with the state of flux in the corpo rate world i saw a real opportunity at this stage in my life to be out on my own he says opening my own business gives me a chance to work with people i like in the commu nity i love i hope i was able to demon strate as a council lor that i worked very hard for peo- photo by sjoerd witteveen former councillor ken prentice recently opened ross dixon financial he is is joined by thelma creighton pies best interests and i want to bring the same type of energy to my position here prentice is one of 25 ownermanagers in the canadian fran chise operation the ross dixon approach to financial planning has had tremendous success in communities such as listowel and cam bridge which are sim ilar in makeup to whitchurch-stouf- fville prentice says he can advise investors of all ages and means from the child who has a paper route right up to the individual who has concerns about having enough money for retirement local approach to business one of the nice things about stouffville is that its a small enough community that we can be there to look out for each other he says the talk these days is about global rather than local thinking but i still believe there are a lot of benefits to this local approach to business 17 days left for rrsps people who dont procrastinate are richer if your goal is to create wealth for yourself and yet you leave contributing to your rrsp to the last minute you shouldnt here is why if you start contributing to your rrsp on january 2 of the current year instead of february 28 of the following year your plan will grow by leaps and bounds for example lets say each year you invest 13500 at 8 compounded annually look at how contributing early affects what you earn for 15 years grows to for 20 years grows to for 25 years grows to for 30 years grows to contributed january 2 for current year 262122 472519 811363 1357075 contributed february for previous year 238294 429562 737603 1233705 difference 23828 42957 73760 123370 after 30 years your plan is worth 123370 more if you started contributing on january 2 each year so the lesson here is to contribute at the beginning of the year for that tax year so now you have to contribute 27000 if you need to contribute 13500 for 1996 tax year and 13500 for 1997 tax year this is easier said than done so it may take you a few years to get ahead of the game one way to catch up is to start a monthly contribution plan this works extremely well for those on salaries if you wait for your business year end to be completed or you expect a company bonus in order to make your rrsp contributions and perhaps that bonus comes in the middle of the year then do your contribution then and dont wait until february of the next year to make your contribution we at money concepts would like to assist you with this years rrsp we will also do a complete financial plan for you given the opportunity for an appointment call 6424540 or drop in to 6132 main st stouffville call today for your rrsp concepts the money management people 6132 main st stouffville 6424540 signy lawson mba carol clements iitiiiiiiiiiiitii i4aa44