The Citizen, 1996-05-29, Page 7Honourable occasion
Members of Blyth Royal Canadian Legion Branch held a
special evening on Friday to celebrate 50 years of
community service. Ralph McCrea, followed by other
Legion members, ceremoniously paraded into the
Memorial Hall to begin the evening with a dignity worthy
of the auspicious occasion.
Huron CAS hosts
underground tour
For a taste of something different mine.
while helping to send a child to The limited offer, available to
camp, the Children's Aid Society of
just 120 people over the age of 18,
Huron County is organizing tours will raise funds to send Huron
of the largest underground mine in County children to the Sifto Sum-
North America. mer Camp for Kids.
Anyone wishing to arrange a tour
Just $50 includes dinner and an may call 524-7356 or 1-800-265-
opportunity to win a port-to-port 5198, Monday to Friday from 9
trip on a Great Lakes salt carrier a.m. until 4:30 p.m. Offer closes
and a tour of the Goderich salt June 28.
THE BABY BOOMERS
From Spenders to Investors
By Linda Henhoeffer
Financial Advisor
Canada, the United States and New Zealand experienced a 'baby boom'
after World War II. Of the 27 million citizens of Canada today, there are 9
million 'baby boomers'. That's one-third of the Canadian population!
Because of their huge numbers, whatever the baby boomers do has a huge
impact on the Canadian economy. In the 1960s, new schools had to be built
and lots of teachers had to be hired to accommodate their learning needs.
Then in the 1970s, new houses were built as the Boomers married and
started having children. Boomers were large consumers of everything: cars,
clothes, vacations, toys and sports for their children. The Boomers were
spenders! This consumer craze created a big demand for borrowed money.
The pressure on interest rates caused them to go higher and higher.
Spend! Spend! Spend!
The health of the Canadian economy was measured by the number of
new houses under construction, sales of new cars and retail sales of
furniture, appliances and clothing. Real estate prices went up and up as the
Boomers insisted on buying larger and more expensive houses. 'Save' was a
dirty word to the Boomers. Their parents, who survived the 1930s
depression, shook their heads at this 'shop til you drop' attitude.
Real Estate Market Collapses
All this is changing as the Baby Boomers reach their 50s. Most of them
have empty nests now as their children go off to university or college. Their
huge houses are too big for just Mom and Dad, but there are few buyers.
With little demand, housing prices have dropped significantly. Boomers can
not plan on selling their homes to give them a nest egg for retirement.
Canada Pension Plan in Trouble
The other bad news for the Boomers is the federal government's talk of
concerns with the future of government pension plans. The Canada Pension
Plan was set up in 1966 as a 'flow through' pension system. Workers and
their employers paid into the plan so those already retired could collect.
This was fine in the 1960s when there were many more workers than
retirees. What happens when the Boomers retire and the ratio of workers to
retirees is greatly reduced?
Shifting from Consuming to Investing
The Baby Boomers have stopped shopping and are starting to save for
their retirement. Historically, as people reach middle age and family
responsibilities lessen, they start to save more. Baby Boomers have never
done anything in a small way. Now that their attention is on creating a nest
egg for their retirement, Boomers are saving in a serious way! They are not
satisfied with just putting their retirement funds in a savings account.
Boomers are investing. The sales of mutual funds go up each month.
Low Interest Rates, Low Inflation Rates
With little demand for borrowed money and with lots of savings needing
to be invested, interest rates will continue to be low. With less consumption
by the Boomers, inflation will continue to be low. With Boomers wanting
to invest in stocks (equity mutual funds), stock prices will increase.
As the Baby Boomers reach their middle years, they continue to do what
they have always done to the Canadian economy. That is, the Baby
Boomers because of their huge numbers shape the reality of our finances.
With the Boomers investing instead of spending, Canadians can expect low
interest rates, low inflation rates and rising equity prices in the coming
years.
THE CITIZEN, WEDNESDAY, MAY 29, 1996 PAGE 7.
WO" Your
KNECHTEL B
SCRIMGEOUR'S
Blyth
G local
FOOD
523-4551
SAVINGS store with
MARKET
Fresh Boneless & Skinless Schneider's
Chicken
Breasts
Fillet removed 8.36 kg "Famours For
Beef
Steakettes
Quality" 454 g Pkg.
79
3lb. 79
Lean
Ground
Beef
3.95 kg
Schneider's
Red Hots
Wieners
"Famours For Quality" Dutch Treet,
Regular, Dinner Franks 450 g Pkg.
79
lb.
Fresh Baked Knechtel
"Golden" Apple
Crusty Juice
Rolls 1.36
6/
u
eit
Litre
129
1 79
Humpty
Pure Dumpty
Potato Chips
Assorted Varieties
Tin 170 g Bag
.99
Breyers Classic Ice Cream 2 99
Assorted Varieties 2 Litre Tub
Bruce Brand Hot House
Product of Ontario Canada #1 2.18 kg
Tomatoes 9 .
•
Ragu Old World Pasta Sauce
Assorted Varieties 750 ml Jar • 99
Heinz
White
Vinegar
4 Litre Jug
Minute Maid
Punch
or Nestea Iced Tea
Assorted Varieties
Frozen 355 ml Tin
Sunlight Laundry
Detergent
Assorted Varieties
8 Litre or Ultra
4 Litre Box
(9
2/ 1 00 499
Knechtel Cheese Spread or
Cheese
89
Slices 500 g Pkg/Jar
Pepsi or 7UP Soft Drinks
Assorted Varieties 750 ml Bottle
6......._ + Deposit
Ti4ri: n7tVrice 9U Unit Price 69 8.2/100ml 9.2/100 ml 0
Values Effective: Monday, May 27 - SUnday, June 2, 1996