HomeMy WebLinkAboutThe Citizen, 1996-01-31, Page 12How many paycheques do you have left?
Age Years Before Retirement Number of Cheques*
25 40 960
30 35 840
35 30 720
40 25 600
45 20 480
50 15 360
55 10 240
*based on two paycheques per month NC
Paycheque spend, lend, or invest
"Nothing is heavier than carrying an
empty wallet in your old age!"
RETIREMENT FACTS TO CONSIDER
At one time, we assumed the government would provide for us
when we retired. That's not looking too promising is it?
Canadians are retiring earlier & living longer. This could result
in a potential requirement of 30 years retirement income. Will you
be able to maintain the standard of living you are accustomed to
when it's time to retire?
RRSP'S
RRSP's allow us to accumulate wealth for retirement.
Regardless of age or income, an RRSP is the single greatest tool
you have to plan a secure, comfortable & independent retirement.
THE TIME IS NOW!
I can provide assistance in helping you look after your financial
future. It could mean the difference between a successful financial
future & one that isn't.
"CALL ME FOR YOUR OWN PERSONAL SEMINAR IN THE
COMFORT OF YOUR OWN HOME."
P.S. Can you afford not to give me a call?
Helen M. Hetherington
Financial Planning Consultant
R.R. #3 Brussels, Ontario NOG MO
Bus: (519) 887-9964 Res: (519) 887-6817
Fax: (519) 887-9967 Toll Free: 1-800-869-8922
Head Office: 20 Erb St. W., Suite 800, Waterloo, Ont. N2L 1T2
Associated
Financial
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Limited
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Partner
PAGE 12. THE CITIZEN, WEDNESDAY, JANUARY 31, 1996
alE 11/ -1118WaN11 - 1111411 -11ff•WsOlf•NVIIIIIIIIffffilINIRWItilt•M=ININ
All-in-one investment account
Continued from page 11
bridge the gap; by saving more, by
working longer or by choosing
growth investments.
Saving more is a good idea, but
it's not always possible, especially
if you're paying a mortgage or
raising children. Depending on
your job, working after age 65 may
not be possible.
In any event, it's difficult to tell
now how you'll feel about working
when you're 65. And even if you do
work longer, it's better to work by
choice than because of financial
need.
That leaves growth investments:
putting at least some of your
money in the stock market, where
there's potential for greater returns,
returns that can outpace inflation.
Many people are intimidated by
the complexities of the stock
market. They are more comfortable
with another, easier way to invest,
equity mutual funds, which offer
professional money management
and diversification.
Historically, well-managed
equity funds have outperformed
other types of investments over the
long term. In addition, there are a
variety of mutual funds available,
which give you an opportunity to
choose funds that match your risk
tolerance and time horizon.
"In most cases people earn a
finite number of paycheques," says
Elizabeth Hoyle, a marketing vice-
president. "So, if saving more or
working longer aren't options for
you, you'll have to make your
savings work harder. That means
starting early with a regular
investment program so your money
has a longer time to grow. It also
means looking at financial vehicles
like equities and equity mutual
funds because they offer the best
opportunity for growth over time."
The earlier you invest in equity
mutual funds, the more growth
potential your money will have.
For example, if at age 25, you
invest $2,000 per year (at the
beginning of each year) for 10
years and then stop investment, at
10 per cent return you'll have over
$610,000 at age 65. But, if you
wait until you're 35 and invest
$2,000 for the next 30 years, you'll
have about $360,000. That's a loss
of $250,000.
By taking the time now to find
the best long-term, consistent
return, you can improve your
financial future significantly. Even
one percentage point can make a
dramatic difference over time. If, at
the beginning of each year, you
place $5,000 in an investment that
earns eight per cent over 30 years,
rather than one that earns nine per
cent, you lose out on over
$131,000.
"There are three things you can
do with your paycheque: spend it,
lend it or invest it," says Hoyle.
"Before you spend another
paycheque, think about how many
you have left."
Looking for a convenient way to
manage your investments and cash?
Interested in having the power to
choose from thousands of invest-
ments — at discounted commissions
— simply by picking up the phone?
Then consider an account with a
discount broker.
Many Canadians tend to think of
discount brokers as firms that
simply execute stock trades at
discounted commissions. That's
true — but it's only part of the story.
According to Mike Angers,
product manager with CIBC hives-
tor's Edge, "Describing a discount
broker as simply a place to trade
stocks is akin to describing the
Louvre as simply a place to see art.
In fact, most discount brokers can
provide you with a truly all-in-one
account. Whether for your registered
or non-registered investments."
How can you benefit? Consider
what most discount brokers can
offer you:
Convenience
— one account with one
consolidated statement for either
registered or non-registered
holdings greatly simplifies record-
keeping.
— one call to trade, get a quote, or
to transfer funds to or from your
bank account means time saved.
— one-stop shopping for
independent third-party research
materials helps investors make
informed decisions.
— toll-free lines from across
Canada with the continental
United States make investing easy
no matter where you are.
Savings
— commissions are often substan-
tially lower than full-commission
brokers, leaving more money to
invest.
— competitive interest rates paid
on cash balances mean idle cash
balances make money.
— one low administration fee
for registered accounts means
more tax-sheltered dollars saved.
Selection
— a wide variety of investments
- from stocks, fixed income
products and GICs to mutual funds,
options, precious metals and new
issues - allows for portfolio
diversification.
For more information on how
you can benefit from a discount
broker, call CIBC Investor's Edge
at 1-800-567-3343.
YOU'RE INVITED To
ATTEND A SEMINAR ON
RRSP'S
We will be discussing the benefits of RRSP
investing, successful RRSP investment
strategies & portfolio planning.
Our guest speakers will be Allison Lyon,
Business Development Representative of
CIBC Securities Inc. for Western Ontario
and Dan Maloney, Investment Specialist of
CIBC.
Wednesday, February 7
at the CIBC Brussels Branch
7:30 p.m.
CIBC BRUSSELS
36 Thomas St. W.
- -(519) 887-6521