Times Advocate, 1998-02-04, Page 14Celebrating summer early. The Grand Bend United Church Choir•put on a 'June -In -January'
concert on Saturday night that featured a number of fair weather favorites -and sing=along
tunes. Pictured are, front left: Carey Eddy, Lucy Sage, Joyce Thompson, Marilyn Millman;
back left: Frank Loscomhe, Don McLean. John. Gill and Edward Avey. Behind the piano at
right is Norman Abbott.
Legion organizing family -style dinner
By Liz Sangster
Hensall correspondent
HENSALL - There will be a
euchre tournament at Hensall
Legion on Fchruary 7. Registration
is at I p.m. and the fee is $5 per
person. Bring a partner. A light
lunch will be available:
Public speaking will he held at
the Legion on -Fchruary 17.
Registration is at 6:30 p.m. and
public speaking begins at 7 p.m.
The snow date is Fchruary 24. The
winners will he determined and
advanced to Zone Level
On February 22, Hensall Legion
will he hosting a family -style din-
ner at the Hensall Community
Centre. The dinner will be served at
5, p.m. The price for adults is $9..
The price for children aged four to
six years is $4.50. Tickets arc avail-
able from Legion members or from
the bartender. Everyone 'is wel-
come: _ '
•
Times -Advocate, February 4, 1998 Page 13
INITY
1
Pander Profile
by Sarah Vermunt
Semester two has been underway since January 27. Report cards for
first semester will he given out on Friday, February 6. Course selection
for next year began on February 2 and•will go until February 6.
Students are reminded. that those who get their course selection sheets
in first will have a better chance of getting into the courses they want.
The new principal, Mrs. Homuth has met with' the students of the
school not as a whole but with each grade separately last week. The
grade meetings were held so -she could meet with the 'students and
become familiar to them. She expressed her -ideas about the school and
then led an open forum for students to express viewpoints and ideas
and to ask questions.
On February 9, the health nurse will be giving immunization booster
shots to grade tens and some grade nines. The immunization is for
tetanus, diptheria, and polio. Any students who need the immunization
have been given forms to fill out.
On every second and fourth Wednesday of every month a sexual
health birth control drop-in clinic wilt be held in the blue room upstairs
at the end of the hall closest to the cafeteria. Any students who have
questions.or co,:terns about anything are welcome to come. This month
the drop -ins will be on February 11 and 25.
Valentine's Day is approaching and the school is hosting a couple of
activities concerning the occasion. Through February 9-12 you can pur-
chase "Valentine Kisses" at lunch. The kisses are a box of six chocolate
hearts that can be sent to people in home room on Friday, February 13.
They costa dollar and all proceeds go towards AiDS research. Even if
you don't have a sweetheart in your life, come.out and buy one for a
good cause! The Valentine's Semi -Formal is on February 12. Tickets
tor this event are $5 a person and will also be on sale fronf February 9-
12.
There will be an Ontario Secondary School Students Association
OSSSA) Leadership conference at Northwestern Secondary School in
Stratford from February 26 to March I. This year's conference is called
"Catalyst '98" and the theme is youth and the environment. This con-
ference is an opportunity for those involved to develop leadership skills
through workshops, group activities, and guest speakers. Students who
attend will meet with students from other schools and it will be not only
a learning experience but Tots of fun too.! Four students from the school
have been chosen by the student council to attend. These students arc
Dave Robertson; Lindsey Jean, Rhonda Dougall, and Chris Brandon
who have all been chosen as future leaders, The conference is- open to
anyone in the school and if you would like to attend or find out more
information contact Marcy Swance.
Upcoming events
Wednesday, February 4 - Midget and junior basketball to St. Anne's;
Thursday, February 5 .- Volleyball plays St. Anne's and Goderich at
St. Anne's; . •
Monday, February 9 - Immunization for tetanus, diphtheria, and
polio forgrade nines and tens who received forms; -
Tuesday, February 10 - Gord Paynter (motivational speaker) assem-
bly at 9:00, Huron volleyball semi -finals -(teams to be announced);
Wednesday, February 11 - Senior and junior basketball to Madill,
parents night for parents of students going into grade 9 or 10;
Thursday, February 12 - Valentine semi -formal (7:30-11:00).
Financial Planning Guides
Investment Facts: Financial Planning
(ILC)—Having a financial plan is one of the most
important keys to managing and creating wealth. You
have to know where you want. to go, what obstacles
stand in your way and how you're going to get there.
To help .you, here are six questions that you need to
consider:
•
• Financially, Where Are You?
Takea hard look at your current financial situation
so you know what "resources you have to starmoving
towards your goals. Compile a list of all your assets
including bank accounts, real estate, life insurance,
RRSPs and other investments, and then draw up a
similar list of all your -liabilities such as your mom: -
gage, credit card debts and consumer loans. Next,
calculate your total income and expenses—the differ-
ence is the money you have left to invest:
. What Are Your Financial Goals?
Identify what you want to achieve. It may be that
you want to retire comfortably at age 60, take a year
off from, work to travel the world or pay for your
children's university education. You may also have
short-term goals such as paying off credit cards.
• Are There Any Obstacles
In Your Way? At this point, you will start to sec
things that you could be doing differently. Maybe
you're leaving too much of your money in a low-
interest chequing account. Perhaps your investments
arc not earning enough income to keep up with infla-
tion. Maybe you haven't taken full advantage of
RRSPs to reduce your income taxes.
What Are Your Investment Objectives?
Decide on your investment priorities. For some
investoFs, safety of principal is most important. For
some, the priority may be regular income. Others
may be seeking growth or capital gains. And still oth-
ers may want to.ensure liquidity, meaning that they.
can easily sell their investments at any time without
having to take a loss.
One. of `the most misunderstood elements of per-
sonal investing is the concept of risk. In general the
greater the potential return, the greater the risk
involved. It's helpful to use a scale to visualize the
return an investor should earn for taking on invest-
ments with increasing levels of risk. This scale moves
from very safe or low risk types of investments (on
the bottom) to risky types (on the top).
Risk . •
Common Stock '
Blue Chip Common Stock
Preferred Stock
Corporate Bonds
Government Bonds
T Bills
Safety .
What Is Your Investment "Strategy?
Now you can begin selecting the investment prod-
ucts that most closely match your objectives. By this
time, you should also have a clearer picture of how
much money you can invest and how frequently you
are going to invest.
Have You Reviewed Your Financial Plan
Lately?
Once you have decided on your financial goals and
have a plan in place, you cannot simply forget about
it. You should be adjusting your investments as your
•
•
financial requirements and tolerance for risk continu-
ally change throughout your life. This 'may mean tak-
• ing more risk when you arc young, ensuring liquidity
when you begin a family and focusing on more con-
servative investments as you approach retirement.
Investor Learning Centre of Canada
What about using your severance'?
' By Brian Costello
Sounds great—at least at first glance—when you're
. scrambling for money to start a new business or
finance: a franchise. But it may not he your hest
option.
If you do, you'll los' half of your severance to the
tax man. Unless itis sheltered, the award will he
added tb your income in the year it is received and
taxed at your full marginal rates. In most instances,
That will he 53 percent.
A far better strategy would he to roll as much of
this allowance into a self-directed RRSP and finance
the purchase of your new husincss or franchise by
taking out a new mortgage lin your home.
• This strategy will enable you to escape taxation on
a big chunk of this money. You win both ways: The
interest on your mortgage becomes tax deductible and
you'll he •ahlc to finance the purchase of the new
business—without dipping into your retirement
money.
How much of your retirement allowance or sever-
ance can you roll into your RRSP'' Under current
rules, you can• invest $2,000 for every year you
worked at thc company.
If the allowance or award is $60.0(X). for example,
and youhad worked at this company for 22 years.
you would he able to shelter $44,000 and only he
required to pay tax on the remaining $16,000. The
difference in your tax payable using this strategy
$8,000 vs. $22,000.
Thai $44,000 you sheltered from your severance,
by the way, could easily grow to $115,000 in 10
years' time.
The $2;000 rollover privilege was capped in 1995
and no longer applies to years of service after that
date. However, if your company did not have a pen-
sion plan during this period, you can roll over an
extra $1,500 a year into your RRSP for every year
worked until 1989.
' This raises another question many people are wres-
tling with today. If you haver the option of taking a
buyout, should you do so now or wait until the next
window?
Here are a few factors to consider
• Is there a possibility you may he caught in
another corporate downsizing—before being able to
opt for the next package?
• Is the financial health of your company a con-
cern? If it is, you might be better off taking the buy-
out now and letting the insurance company that han-
dles your company's pension worry about that.
• Also, don't forget that the 52,000 rollover
allowance, as noted earlier, has been capped as of
1995. If you decide to opt for retirement five years
from now, this deduction will not be available to you
for:1998, 1999, 2000, 2001 and 2002.
(Brian Costello is perhaps best known as one of
Canada's leading seminar speaker&on personal
. finance.)
'Children's Sunday was observed
at Hensall'United Church. Nancy
Fraser was the minister. Mark
Garlough was the organist. Chuck
Malielte accompanied thc chil-
dren's anthems on the guitar.
Ann Marie. McGregor and Dana
Martin took pan in a theme convcr=
sation. Kcn and Kay Elder were the
ushers. Communion was served by
Joanne Moir, Helen MacLean,
Elaine Corbett and Ann'Annen:
Dave and Ryan Campbell and
Chuck and Allan Malletic also
assisted with thc church service.
11 you have a favorite hymn put
the namc and number in the box
provided. Flowers in the church
were in memory of Winona Jacobi.
The Thursday Afternoon Ladies
meet on Fchruary 5 at,2 p.m. , ,'
Rev. Kevin Steeper was the min-
ister at Carmel Presbyterian
Church. His message was "You
Can't Go Back Home." Joyce
Pcp)icr was the organist. Al
Hoggarth and Harry Smith received
the offering. Flowers in the sanctu-
ary were in meinory -of the late
Nonie Jacobi.
The sympathy of the community
is extended to thc Jacobi family on
the passing of their mother. Winona
was a• resident i1T Queensway
Nursing Home and formerly a resi-
dent of Tuc.kersmith Township.
Hensall Landfill is open from 1
to 2 p.m., Mondays._ and 1-3 p.m.
on Wednesdays: Hcnsalt residents
must have a current Hensall
Landfill Pass for acecss. •
A reminder to dog, owners in
Hensall, that tags must he pur-
chased by March 15. to avoid a late
payment fee. Tags arc available at
the Municipal Office.. Prgperty
owners in the Village of Hensall
are reminded that- taxes are due. on
February 15. Taxes may be paid at
the Municipal Office.
NOTICE OF
ANNUAL MEETING
The 122nd Annual Meeting of the
Members will be held In the
OFFICE BUILDING
of McKlllop Mutual Insurance
Company
91 Main Street, S., Seaforth, Ont.
Wed:, ebruary 25, at
• 1:30 p.m.
• To receive and dispose of the 1997
financial and Auditors Report '
• To appoint Auditors
• To consider and enact proposed
amendments to bylaws 830, 33,
43(f) & 44 .
• To transact any other business that
may property come before the
meeting.
• To elect Three Directors
• The retiring Directors are John.
Tebbutt, Matthew Haney and Walter
Mcllwain. All are eligible for
re- election.
• Any person wishing to seek election
or re-election as a Director must file his
intention to stand for election in writing
with the Secretary of the Company at
least seven days in ecionce of the
Annual Meeting. (Byt • 21(d):
.aures Cardiff,
Secretar-TreasurerMana:er
Usborne &
Hibbert Mutual
Fire Insurance
Company
Exeter, Ontario NOM 1S1
. (Established in 1876)
Provides Full Insurance
• Coverage
for Farm Properties.
New Applications are -
Welcomed
DIRECTORS & ADJUSTERS
Joe Chaffs, RR5 Mitchell 348-9705
Ron Feeney, RR 2 Dublin345-2360
Larry Gardiner, RR2, Statfa • 345-2676
Jack Hc, 'n. RR1, Kirkton 229-6152
Michae' .lea RR3 Granton 225-2600
Morris Y...iws, RR2 St. Pauls 393-6548
AGENTS
Wayne Maver Exeter 235-1915
David Moore, Dublin 345-2512
Barb Wor+en, Dublin , 345-2512
Joseph Uniac, Mitchell .. _ _ 348-9012
Head Office, Exeter 235-0350
A refund from surplus was de-
clared for all policy holders
who qualify, are on record and
In good standing as at Decem-
ber'31, 1997..
Don Thompson
Financial
Consultant
1
•
LET US HELP YOU RETIRE
IN COMFORT AND STYLE
Check out our RkSP and RkIF 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) 235-3'368
YOUR INVESTMENT SHOPPERS • 5 Rattenbury St. Clinton (519) 482-9924
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SCOTIA® RRSP CATCH-UP— LOAN
(here's an example, just to get you thinking)
1. BORROW $15,000.
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(Assumes 40%f tax bracket. Yours might be different).
3. Pay. Back $170/month.
(Seem possible? 1f need he. you can take up to 15 years to repay. i
4. Watch your RRSP grow to 520,996 in 5 years and 4 months,
when your loan is paid out •
5. In 25 years, you'll have $72,415: See assumptions below.
•
•
Scotiabank 5
What's right for you?"'
This year It's your tum.
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www scotiabank,ca 280 Main St. S. Exeter 235-1142
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Open Mon. to Thurs. 9 a.m. - 5 p.m. Fri. 9 a.m. - 8 p.m.
SERVING THE COMMUNITY SINCE 19152