Loading...
HomeMy WebLinkAboutTimes Advocate, 1998-01-28, Page 23MON1TY Tina's -Advocate, January 28, 1998 Page 23 Long Service Award Zurich skaters compete in Woodstock Exeter and Area Fire Chief John Morgan (right) recently presented Bill Hirtzel, a 25 year de- partment volunteer, with a Long Service Award issued by the Office of the Fire Marshall. Looking on is Hirtzel's wife Ann. Submitted photo Goshen church holds annual meeting By Joan Beierling Varna correspondent VARNA - A church service was held in Goshen on Sunday followed by Goshen's annual meeting. Flowers were placed in the church in memory of Ken Wilfong. The community's thoughts and prayers go out to his family. On February 1 the church service in Varna will be followed by a potluck lunch and Varna's annual meeting. , Teens and Trends "from grade Awn and up may pick up their reg- istration -form for the Winter Retreat- at the Lambton United Church Centre in Forest. Contact Tracy Crick for more information. There will be a bus to pick up and drop off at various places. This weekend of fun. music and fellow- ship will he Fehruary 27. 28. and March 1. Registrations are to be.in by Fehruary 15 and the cost if $35 per person. • The Sunday School teaching schedule has been set so teachers are reminded to take a look when; they are teaching or in the nursery: Schedules will he posted on the hulietin. hoard at each church. The Stan Lee Club will meet February 3 at 12:30 p.m. at the Complex for a potluck lunch. Each member is asked to bring a short valentine verse. The Varna U.C.W. will meet Fehruary 5 at 8 p.m. in the Varna Church. The Annual Pancake sup- per will be held February 24 in the Varna -Church. The Teens will meet on February 8 at 2 p.m. in Brucefield for an afternoon of Scruples. The 1998 Tourism Lottery Calendars are available for sale with over $10,000 in total prizes. Cash and monthly prizes are donat- ed by arca businesses and attrac- tions. They are $15 each and pro- mote tourism in Huron County. They can be purchased at Magnolia Manor Bed and Breakfast, Varna or call 233-3181 to order. Financial Planning Guides Where does all the money go? By Jim Becker and Andy Mayer , You're a responsible person.., Yet every month you seem to come up shcfrt. It , doesn't have to he this way, though. Infect,'thisbook- can help y9u save hundred's, even thousands of dol- lars a year starting today. With fast and simplc'meth- ' ods on logging expenses and sticking to,a budget. this plan puts you in control of your money -so you can have some to enjoy! (W.W. Norton) Financial Peace. Restoring Financial Hope To You And Your Family by Dave Ramsey. Dave Ramsey is a businessman and entrepreneur who earned four million dollars. only to lose it all—and nearly everything else he ' owned—by making the same mistake millions of people make every day:'He got too far into, debt to get out. Dave Ramsey is also a Christian family man who, through the pain,and turmoil of his financial night- mare. discovered a new way of life—and of dealing with money. He shares the.lessons he learned in Financial Peace, .a simple yet powerful, practical and entertaining guide for anyone who wants freedom from financial stress. With Financial Pcacc, Ramsey has already helped hundreds of thousands of people understand the forces behind their Financial distress, and how they can set things right—financially. emotionally and spiritually. This new hardcover -edition of the book; widely available for the first time to the trade, will show hundreds of thousands more: • • How to get out of debt and stay out. • The "Keep It Simple. Stupid" rule of investing. • How to use the principle of contentment to guide financial decision-making. • How the flow of money can revolutionize your relationships. (Viking U.S.) RRSPs 1998. Everything You Need To Know To Make The Right Decision by Steven G. Kelman. Canada's bestselling RRSP.guide provides a clear explanation of the latest rules and the most effective RRSP investment strategies, from your first RRSP purchase to your maturity options. Completely updated for 1998. it also includes a comprehensive survey of RRSP investments and self-directed plans. as well as the exclusive Globe and Mail tables ranking more than 1,200 mutual funds. Investing For Income, A Guide To Earning Top Interest On Your Savings, by Hugh Anderson. Canada Savings Bonds, GiCs, term deposits, bonds. mortgages, treasury bills, mortgage-backed securi- ties—all these investments have powerful earning potential Without sacrificing safety. This guide explains how thc fixed income market works, the investment choices and the risks. Learn how to tap the awesome power of compound interest—and keep your profits away from the tax man! (The Globe and Mail Personal Finance Library) Penguin Books Canada College Time - D,oes Buying A House For -.Your Child Make' Sense? By Brian Costello _ College and university fees have' been rising in recent years—hut they're not the real culprit. The big killer.is living cosh—and (hat's often the part parents resent the -most because they feel they're at the mercy • of landlords in many college towns. There is a solution. of course. You'can join them and; in the process. prcivide subsidized housing for your son or daughter and perhaps even profit yourself at the end of the day.. Where to start? First, take -a few' minutes and tally up the cost of a university education. Break out the costs for living expenses. A big chunk of that. you can be sure, gods for rent. - if you multiply that figure by four or five, you'll have a pretty good.idea'of how much money you'll have at your disposal to pay for the mortgage, utilities and other expenses. The next step is to come up with ahe down payment. it doesn't matter, as. far as Revenue Canada is con- cerned, that you intend to rent part of this property (o your son or daughter. To Revenue Canada, it's just a normal roil estate . transaction, in which you'll be able to claim all the interest you pay on mortgages and loans associated with the property as a tax deduction plus all mainte- nance. insurance, utilitics,,upkeep, etc., perhaps even capital cost allowance (depreciation) if you're making a profit. Then there's the salary for a property manager, which is the nonn in rental situations with a.numhcr of tenants. There is no reason why this could not be your son or daughter. After all he/she will he manag- ing and maintaining your investment—and therein li);s an interesting tax twist. The salary you • pay your child will be a tax deduction to you but will probably not he taxable in the hands of your child because he/she would not have earned enough from a -summer or part-time job -lo produce taxable income. • Even if he/she has enough income to he taxable, your child will still he able to claim their tuition and full-time student credit. That may be enough to reduce his/her taxable income to zero, even get them hack on the side as a dependent exemption. Many taxpayers often miss out by •failing to claim rental expenses when their rental income reaches zero. That's a mistake because we can claim negative rental income as a deduction against our regular sal- ary—even though the reason for this was due in part . to the salary paid to your son or daughter. In time, real estate tends to rise in value. in the.case of rental real estate, thc capital gain is taxable only - when you sell the property. To reduce this•liahility, you might'consider putting the property in the namc of jour son or daughter. This will enable him or hecto claim it as their prin- cipal residence. When he/she graduates, he or she could then sell the property and give the proceeds hack to you—or use thc money as a down payment on a new residence. (Brian eostefio is heard daily an aver 180 radio stations acmss Canada, including most ntajor markerareas. l By Carmel Sweeney Zurich correspondent ZURICH - Local skaters took part in the H.O.M.E. competition in Woodstock. Three area skaters par- ticipated• on Friday and eight entered the competition on Sunday. A one -day tournament will he held in Embro on February 8. The annual sweetheart competi- tion in Glencoe is on February 15 weekend. This year's skating carnival will he held at the Zurich arena on March 8 at 2 p.m. with the theme "Ice Country". The Winter Carnival Fashion , Show will be held at the Legion in- ' Grand Bynd on February 6 at 8 p.m. Th doors will open at 7:30 p.m. Tht cost is $10 per person. Tickets are available at the Carnival Office beside Leisure Time Sports on Ontario Street or call 238-6776. The Zurich. Cubs have been doing various activities at their weekly meetings. Recently they were introduced to the Internet at the public school by Mr. Bicman. They have also been working on jungle openings and closings. They arc getting their Kub Kars ready for a rally in Blyth on February 28.. Plans are underway for the Winter Camp at St. Boniface School on February 13 and 14. - St. Peter's Lutheran Church Youth Group will he getting a donation from "Fill the House Event" at Erb's Country Kitchen on _January 31. Reservations arc sug- gested for breakfast, lunch or din- ner at 236-4812. This week the Beavers went bowling on Tuesday night at the Town and Country Lanes. Next week, February •3 will be 'Backwards Day' so all the Beavers .have to wear their uniforms back- wards at the Lutheran fellowship hall from 6 to 7 p.m. The next foot care clinic will be held •at the Maple Woods Apartments on February 9 from 9 a.m. to 12 noon. The Optimist Club are planning • to have their next meeting at Erb's Country Kitchen on February 17 at 7 p.m. to plan future cents for young people in the village. ' Old and new members" are encouraged to attend, to keep the club going. For more information phoge.president Lee Ann Studerus, RR 1 Dashwood at 238-8323. - The next Women's Institute meeting will take place. on February.2 at 1:30 p.m. at the township hall. The Ladies Auxiliary meeting will he held at the Rest Home on Fehruary 3, beginning with a pro- gram in the auditorium at 7 p.m. `A meeting of the Agricultural Society was held at the township. hall under the direction of president John Becker and secretary/treasurer Margaret Deichert. The theme for the Zurich fair on July 24, 25 and 26 will be "Community' Partnerships." This year the Lions Club wilt he working with the Fair Board to put on an "Elimination Draw and Dance" on the Friday night. All the various groups will be getting a letter to send one or two representatives to thc next meeting on March 19 at 8 p.m. . The Convention will. be held in Toronto from February 17 to 19 at the Royal York Hotel. Cash calendar winners for the week of January 25 to 31 were: Rob and Arlene Bryson, Dashwood ($100 each); Jennifer Reed, London,, Glenn DeGraw, Grand Bend, Clare Masse, Zurich, Lindsay LaPorte. RR" 2. Zurich. Lori Forrester, RR 2, Zurich, Mark and Deb Regier, Zurich ($50 each). , Personals .Jerome and Carmel Sweeney 1 enjoyed a retirement dinner in Goderich last Friday night at the Bedford Hotel in honor of a eo- worker, Mike Cox, from the Goderich Hospital. it was nice for. Jerome to See everyone as he has been off work since August. ' The Klapp family and Meagan Sweeney from Zurich attended a Superbowl party on Sunday at the home of Dan and Carrie Eyhergen in Oakville to watch the football game on their big screen T.V. • Women's Institute plans craft workshops ' KIPPEN - Kippen East Women's institute met at the home of Lil . McLellan on January 20. President Grace Drummond opened the meet- ing by reading "The New Creed": • The roll call "How- is automation and progress in all fields changing your lifer was answered .by 10 members and two visitors. The W.I. workshops for the spring arc a choice of making a broomstick doll. beeswax candles or sewing a.patchwcirk vest. in St. ,Paul. March 26 or in Londesborough on April 2. Members are busy knitting for the Children's Hospital as well as making things for the W.I.-,bag to he given at the 1999 Plowing Match. Grace Eyre chaired the program. She introduced guest speaker Yvonne Reynolds, who spok.e about "Footprints." She spoke about three three cases of forgive- ness. Grace Eyre thanked Reynolds and presented her with a gift; Dorothy Bell conducted a couple of contests. .Grace Drummond and Dorothy Bell served lunch. Members were reminded to bring their #6 mm. knitting'needles to next month'.s - meeting for their project. Don Thompson Financial Consultant LET US HELP YOU RETIRE IN COMFORT AND STYLE Check out our RRSP and RRIF plans designed to meet your needs. Lawrence Beane. Manager R.R.S.P. Deadline March 2/98 Y.I.S. Financial Inc. 282 Main St. Exeter. (519) 235-3368 YOUR INVESTMENT SHOPPERS 5 Rattenbury St. Clinton, -(519) 482-9924 - 58 Ontario St. Grand Bend (519) 238-5014 1-888-235-9260 BORROW MONEY TO SAVE MONEY? ARE YOU KIDDIN (Nope. The thousands who did last year laughed all the way to the bat11<.) SCOTIA'S RRSP. CATCH-UP'- LOAN '(here's an example, just to get yqu thinking) I. BORROW $15;000. ;(or as much as S50.000 at rates as low a Soctiahank Prime).. 2.,GET BACK 56,000 ON YOUR TAX RETURN AND PAY DOWN YOUR LOAN. (Assumes 40n tax bracket. Yours might he different). ' 3. Pay Back $170/month. (Seem possible? If need he. you can take up to 15 years to repay.) 4. Watch your RRSP grow to $20,996 in 5 years and 4 months, when your loan is paid oit 5. in 25 years, you'll have $72,415. See assumptions below. This year it's your turn. The Scotia RRSP Catch-up Loan offers an affordable way to take advantage of unused RRSP contributions. The Idea Is to do thls once, so you can catch up and keep up. Call us for details. Scotiabank 5 1-800-575-8888 What's right for your" www.scotiabank.ca 280 Main St. S. Exeter 235-1142 Assumptions: 1) - loan is amortized over 10 years and is subject to applicable credit criteria. Loan rate over the life of the loan is calculated based on 6.5 i , Scotiabank's 5 -year average Prime rate. Rate is fixed for each term of the loan. 2) - Tax refund is used to pay down principal at the fourth month. 3) - RRSP investments eam an average annual compound return of 6.5% in a diversified portfolio. ® Registered trade -marks of The Bank of Nova Scotia. "Trade -marks of The Bank of Nova Scotia. YOUR COMMUNITY RRSP AL TERNA TI V Consider a CREDIT UNiON R.R.S.P. with various investment options trach RRSP & RRIF contract is insured individually up to $60,000.00 RRSP Loans Available at Prime Rate some restrictions apply CLINTON COMMUNITY CREDIT UNION LTD. 48 Ontario St. Clinton 482-3467 118 Main St. North Exeter 235-0640 Open Mon. to Thurs. 9 a.m. - 5 p.m. Fri. 9 a.m. - 8 p.m. SERVING THE COMMUNITY SINCE 1952