Loading...
The Citizen, 1995-10-18, Page 13brussels.walton TRAILBLAZERS SNO SHOW PRIZE WINNERS 1st - 50/50 Draw - Hugh Verstoep 2nd - C Mac Snow Tours Draw - Jonnymore Prize - Scott Nichols 3rd - C Mac Snow Tours - Bruce Peninsula Ride - Bill Beuermann NEXT MONTHLY MEETING - OCTOBER 18 8:15 P.M. AT BRUSSELS INN ALL ABOUT RRIF's SEMINAR * MVCA, Wroxeter * Wednesday, Nov. 1 * 7:30 p.m. Call to reserve your seat Linda Henhoeffer 1-800-667-3887 /Investment Centre 335-3887 All about RRIF's All you wanted to know, but were afraid to ask! By Linda Henhoeffer Financial Advisor Most of us put our savings inside an RRSP with our attention focused on our income tax refund cheque. Few of us think about what will happen to our RRSP savings when we retire. So, while we understand how to put our savings into an RRSP, most of us do not understand how to take our money out of our RRSP's. However, few retirement decisions are as important as the choice we make as to how to take our savings out of our RRSP's. Today, there are three choices: 1) withdrawing ALL the money from our RRSP in one lump sum. All this 'cash' is added to our current income as this money has never been income taxed. We could possibly lose half our savings to income tax, depending on our income tax bracket. 2) purchase an 'annuity' from a financial institution, usually a life insurance company. The control of our savings now rests with the company that issued the annuity. We will be paid a fixed sum of money, on a regular basis for a specified period of time. At our death, the remainder of our savings stays with the company that issued the annuity. Annuity payments are based on interest rates at the time the annuity is set up. Therefore, our income would be much less because of today's lower interests rates than from annuities set up several years ago when interest rates were higher! 3) Registered Retirement Income Fund, or RRIF, is the best choice today to set up an income from your RRSP savings. A RRIF gives you FLEXIBILITY, CONTROL and INVESTMENT CHOICES. * FLEXIBILITY - a RRIF can be started at any age; the only rule is you HAVE to start taking an income from your RRSP's by age 71 - a RRIF can be combined with other sources of income - you can have more than one RRIF from any number of financial institutions - the amount of income can be increased or decreased at any time, as long as you withdraw the minimum required - only the amount withdrawn is income taxed; the remainder of your savings inside the RRIF grows without being taxed * CONTROL - you choose 'where' and 'how' your savings are invested; the only rule is the majority of your investments inside the RRIF must be Canadian (80 per cent) - your investments can be moved from one financial institution to another - the funds are transferred to your beneficiary or your estate at death * INVESTMENT CHOICES - any type of investment can be used for your RRIF savings. The only limitation is the Canadian content rule, ie. 80 per cent of the investment must be Canadian. Mutual Funds and GIC's are the most common RRIF investments. When we are working, we put our savings into an RRSP. When we retire, we change our RRSP into a RRIF by filling out a form. Then we start to take an income out of our RRIF savings. IPro"oruces ECCO BELLA A Line of ntr Quality Cosmetics Introductory Offer: 15% Off All Ecco Bella Products during November Our Pantry is Overilowing! We're Moving to 22,2 Josephine St. Wingham (Formerly Hayes Clothing) Closing Here on Saturday, October 21 Opening There on Tuesday, October 24 Opening Week Specials! 357-3466 THE CITIZEN, WEDNESDAY, OCTOBER 18, 1995. PAGE 13. Grey Central Echo Students looking forward to Halloween By the time you read this we will have eaten our Thanksgiving turkey and we will be looking forward to Halloween. Our school pictures will be taken this month and Mrs. Ball will be checking some class for cavities on Oct. 16 & 17. Our next Tech 21 day for Grades 7 & 8 will be Oct. 19 and there will be a School Advisory Council meeting on Monday, Oct. 23. THE SOCCER TOURNAMENT By Rose Kuepfer and Laura Bank On Friday, Sept. 29, the North Huron soccer tournament was held at Grey. The weather was perfect and everyone showed great sportsmanship and athletic skills. The Grey Central teams did quite well. The girls won four games and lost one. The boys won three, tied one, and lost one game. Thanks go out to the great refs from F. E. Madill. By Sarah Brubacher and Stacey Bowles The Grade 5s and 6s visited the Indian Archeological Museum in London on Sept. 26. Here is a letter to the tour guide. Dear Tour Guide, Thank you for showing us around the museum in London. It was interesting to learn how Indians lived back then. The utensils they used are different from the ones we use now. We would have never imagined how they crushed corn with stones. The pottery was neat to look at because all the designs and shapes are fascinating. It would be hard to put all the pieces together. The Indians must have been very resourceful to design all their weapons. The boxes that we took a look in were neat because we got to touch all the things Indians used. The false face was especially interesting because the Indians carved the false face mask into a tree trunk. We can understand why the Indians did not want the mask to be finished. The Indian village was excellent. To see how the palisade walls were made, how they look and how tall they were was interesting. We thought the longhouse was going to Council says 'Hold the line 9 Continued from page 1 the board should be told the munic- ipality won't collect the education taxes for them if something isn't done. "Ontario spends over $13 billion on education. That is $13,000 for every man, woman and child in the province," said Reeve Bailey. "Where is the money coming from?" "The board brags that they employ 1,000 people, but we only have 59,000 people in the county," he said. In response to the Board's request of support, Blyth council will send a letter saying they request and expect the board to hold the line on taxes. be shorter. It was amazingly tall. The mural with the long houses inside of the museum, gave us some sort of idea how the longhouse was going to be outside. The reason we came to the museum was because we were reading The False Face book by Welwyn Katz. After we visited the museum we went to the Sifton Bog. At the Bog there was a boardwalk. If you stepped off the boardwalk you would be stepping on a spongy layer of moss. When we got to the end of the boardwalk there was a platform where we looked at the bog. In the bog there were algae and lily pads. It was great! We went to the bog because it was the bog that was the setting of the book. Yours sincerely, Grade 5/6 classes Grey Central School, Ethel. FEATURING MRS WHITMORE'S/MR. STATIA'S GRADE 7/8 Mrs. Whitmore's class of 30 students has 18 Grade 7s and 12 Grade 8s. All entered the classroom ready to embark on a new year, some for their final one at Grey Central. In science we are studying the classification of living things. We gathered leaves from our Hood Woods, classified them, did leaf rubbings and wrote poetry about the beautiful season of autumn. We have also written some interesting diamante poems. EARTH By Laura Bank Earth beautiful round living moving turning water clear cloud cover gliding drifting floating blue clean S14 PEACE AND WAR By Cass Boyd Peace free friendly caring loving joining freedom faith hatred reinforcements disastrous unkind war In history the grade 7s are learning about the physical features of Canada, Mexico and South America in preparation for studying natives of North America. The 8s are being introduced to the United Empire Loyalists. We are looking forward to Oct. 24 when we have our first "interlink day" with th':: residents at Huronlea.