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i ry v fs i r- pi 6 the tribune tuesday february 10 1998 st this just doesnt work anymore it did at one time but not now gome talk to us and we will help you reach your goals specializing in planning reducing taxes making mortgages tax deductible tax shelters retirement investment planning management self directed rrsps self directed rrifs reducing effects of inflation outperforming gics impact of global investments asset allocation strategies call today for a free confidential review ron gerry ba ca branch mgr the financial planning group 9056428371 mutual fund dealer the height of excellence financial planning group 17 hever do mi taxes instead of worrying about making costly mistakes i take my return to h4r block its not only hasslefree its practically footproof because at h4r block they guarantee their work in writing har block its the right thing to do vifit our oict for lormt and condition of th guaranttt 20 freel lane stouffville 109 brock st west uxbridqe 905 6422927 9058529242 business and finance once retired use only a portion of annual income it used to be a given that if you lived in canada and were still drawing breath by the age of 65 you automatically qualified for old age security no worries no questions asked no longer 1989 the federal government started to clawback on old age security payments to individuals whose personal income exceeded 53215 the clawback is 15 per cent of net income exceeding this amount up to oas benefits received the proposed seniors benefit which would replace oas will have the clawback begin at 26000 of combined family income rather than individual income as was the case with oas the government plans to roll oas the guaranteed income sup plement the age credit and pension index linked term deposits return linked to global or canadian markets deposit insured to 60000 per rrsp contract per membership in nonrrsp accounts three or five year terms terms are available your credit union has the retirement savings plans to give you the security you deserve options now include mutual funds as well as index linked term deposits call us at the stouffville credit union for details on these and other rrsp options 6245 main street stouffville 90564028 1 1 branch of greater toronto area gta savings and credit union limited if the only advice youre currently receiving involves buying and selling investments youre not getting wise advice by encouraging you to consider your complete financial situation investment tax and estate planning and to consistently think long term we can help you achieve your financial goals td evergreen wise advice on the management of wealth call 18005999555 or ask your local td bank about td evergreen wealth management td securities inc is a subsidiary of the toronto dominion bank tds1 member cipf on the managementi j ofwealth anthony mangione fice president income credit to the new seniors benefit the seniors benefit is not tax able but it is incometested based on individual income or at 78000 of the couples income the good news is that people are living much longer are retiring much earlier and are engaging in rewarding experiences during their retirement we have seen consistently improved mortality rates over the years and todays 69yearolds can now enjoy life expectancies of 82 years for males and 85 years for females and this is conservative thats compared to life expectancies of 57 and 61 years when these people were born the not so good news is that these people will need their retire ment income to last longer than their working lifetime here are some tips dont underestimate how long you will need to draw a retirement income and plan rrsp contribu tions accordingly during your work ing lifetime once you are drawing retire ment income plan for inflation and only spend a portion of your annu al income each year add the rest of your principal to build your investment base and fight inflation its a long long road ahead the time to start saving is now tjiis article was submitted by brian j evans financial services nvghewmahubmsmhw make a rrsp contribution today the following are 10 timetest ed rrsp suggestions if youve never contributed to an rrsp before start today accept no substitutes for inde peridentlyreridered professional financial advice dont wait until the rrsp dead line contribute as much and as early on during the year as you can create a monthly dollar cost averaging plan avoid taking a time horizon of less than five years when selecting your rrsp assets choose a mutual fund manager with a solid track record of perfor mance and a wide range of invest mentalternatives maintain a mix of asset classes stocks bonds that matches your riskprofile take full advantage of your rrsps 20 per cent foreign con tent allowance consider creating a spousal rrsp think about borrowing money for an rrsp contribution rather than pass up the tax benefits especially when interest rates are ardewas submitted by brian j evans financial servicesm j i i 4