ET SRO pee Considering all of your retire Whether you're already retired, or plan to retire soon, you need to under- stand your retirement income options so you can make the right decision for you. Although each person has unique goals, it's wise to consider how to: - maximize potential; income Lr ST "(OREO SSNS RRS ANE EAA EAA AEE HEE EEE SEE RAR NN -ensure flexibility so you can adjust for changing needs; and manage income. You'll need to decide what to do with your RRSP funds by Dec. 31 of the year you turn 69. You can convert your RRSP to cash, with the full amount considered to taxable Figuring out what an RRIF is A RRIF is one of the most popular RRSP maturity options. Your funds remain invested on a tax-deferred basis and only the income you take from your RRIF each year is taxable. The income you receive depends on how much money you put into the RRIF, the rate of return on your investments, and the type of payments you select. A key feature of a RRIF is flexibility - the income you draw can remain the same, decrease, or increase each year. Under government How do | know what's vest for me? A RRIF gives you more flexibility and more control over cap- ital and income than any other retirement income product. If you prefer a guaranteed fixed income product with less flexibility, an annuity option might be a more appropriate choice. There's no limit on how many annuities and RRIFs you may buy. The specific plans you choose and how they're combined depends on a careful analysis of your circumstances. Your financial advi- sor can help you make the most of your retire- ment through a person- ally-tailored financial security plan. Courtesy of, Chris Hudson and Mark Hlozan Investment Representatives of London Life and London Financial Centre Limited, Pickering, On. regulations, you must take a specific minimum amount of income each year, depending on the amount of your RRIF and your age, but there's no maximum. RRIFs also offer the choice of a variety of investment vehicles, simi- lar to those you held in your RRSP. Courtesy of, Chris Hudson and Mark Hlozan Investment Representatives of London Life and London Financial Centre Limited, Pickering, On. At Canad IBC au) 2{=yA\\' Is a Gift We Give Ourselves TO ACHIEVE YOUR RETIREMENT DREAM, YOU NEED A PLAN. We dream of enjoying a wonderful retirement filled with family, friends and the chance to do exactly as we please. But to get there you need a plan; a plan for seeing beyond today's RRSP contribution to your total retirement plan. Balancing today's cash flow with tomorrow's need for a retirement nest egg sometimes seems like an impossible task. But it doesn't have to be if you take it one small step at a time. Putting away a little now for the future is a part of that plan. So is making sure your investments are working as hard as possible for you. And you'll want to protect that nest-egg by ensuring your plan aims to minimize taxes when the time comes to pass those investments on to your loved-ones. peral Bank of Commerce we can helg { ) u 145 QUEEN STREET, PORT PERRY * - CIBC Trust is a member of the CIBC Group of Companies be taxable income in the year you withdraw it. Or, you can convert your RRSP to retirement income with a registered retirement income fund (RRIF), an annuity, or a combination of the two. SSA NR ment options [_ SCUGOG FINANCIAL _| 0) 2024 % (0 500 Woh . IT'S WORTH THE DRIVE TO PORT PERRY! NEU 2X my YN ESS BWI NAVA SESH EI SINR ESW wants 0 Annual Rates © PORT PERRY STAR - Tuesday, February 8, 2000 - 9 ER RR EE 1 J LA AR EA SN A SR AEE HE HH EAE GSE SEAS AS To be a part of this feature, please call The Star: 985-7383 Courtesy of, Chris Hudson and Mark Hlozan Investment IIo) I 3 Representatives of London Life and London Financial Centre Limited, Pickering, On. Van Camp & Keller CHARTERED ACCOUNTANTS, LLP 2 Income Tax Planning & Return Preparation Personal Tax Returns Electronically Filed Preparation of Government Returns (T4's, T5°s) GIC RRSP Financial, Estate and Retirement Planning ses ses essssrnsnse sess sssessssssenes esses ss ss esssensn esses ess sssssssane 2YEARCASHABLE cc cvievannens AFTER 120 DAYS MINIMUM $1,000. Rates Effective 02/07/00 - Subjecl to change without notice 595%....... 5.70% 6.35%....... 6.35% 6.50%....... 6.50% INDIVIDUALS CORPORATIONS SMALL BUSINESS FARMS eens 6.60% een 6.65% 250 Queen Street, Port Perry 985-3832 (next to Shoppers Drug Mart) ASSOCIATED WITH L SHEPHERD & POWELL CHARTERED ACCOUNTANTS ---- NR HT with expert advice & innovative products TM - Trademark of CIBC 1-888-595-4413 204 Casimir Street, Port Perry Serving Scugog for over 25 years Telephone (905) 985-9725 Toll Free 1-800-215-3852 on your MOF tgage? or eceiving Ht LAURENTIAN BANK 1 BROCK STREET OF CANADA UXBRIDGE 905-852-3383 CINDY OR DARLENE 165 QUEEN STREET PORT PERRY 905-985-8435 AMBER OR CHERYL