im the area however

Swetlishoff is a local resident and has over 14 years of
in construction. Gordon will be pleased to assist you in all
if oF exterior construction.

painting rein
im Santa Fe style chesterfjelds as well as
If you don't see the furniture you want,
Deere teat ane eetew ora. Watch for their grand
‘opening in a few weeks.

NEC newsletter has a new look and has expand-

Castlegar. changes including
am-} p.m starting Sunday, beep phony perm dy snarl
Se igen Seer isting soem. Weich for soft ice ccam coming

>
Centre and the Kootenay Region of the

forces to create an evening
on Saturday, March 26, 1994.

you. pr p
Act, Human Rights, Bill C-113 (UIC changes) and Bill 63 (WCB) will
be presented and discussed. The fee is only $25. per person and regis-
tration is being handled by the Canada Employment Centre in Trail.

We’re out to meet you!

A Federal Business Develop-
ment Bank representative
will be paying your com-
munity a visit in the next (counselling, planning
few days. Call today and ““| and training).

At Castlegar om February 23, 1994

Telephone 1-800-667-7579
TED TO YOUR

arrange an appointment
% to discuss financing and

management services,

La Ramper len
servivws dome brs dren

Pa, tf
‘ASE ZUOUR
IXED INCOME.
AGF Canadian Bond Fund inveas in high quality

rygeedatye x memmerge issued or guaranteed
Sile:, Shine ra: al

The Fund’s objecti id 3 with a

WEDNESDAY,

February 16, 1

for students across
pilot program, 0}

Agency, is aimed at patching
students

Bewildered and overwhelmed
by the flood of RRSP verbiage?
To ease your mind and help
your finances, focus on these
key points. (Watch for possible
registered retirement saving
plan rule changes in the upcom-
ing federal budget, although
they shouldn't affect the 1993
tax year.)

WHY AN RRSP?

Almost every day another
survey reveals people aren't
saving enough money to pro-

Students can now plug into axpoitise
beyond their classrooms. The law

Straight talk about purchasing RRSP’s

notice you received from Rev-
enue Canada last summer after
filing your 1992 tax return. It
shows how much may con-
tribute for 1993, which should
be:

(a) 18 per cent of your
earned income in 1992, minus

(b) any 1992 pension adjust-
ment (P.A.), plus

(c) any unused contribution
“room” carried forward since
1991. Then deduct

_@) any past service pension

vide a
The RRSP gives you a tax break
now and allows your money to
grow tax-free; you pay tax when
you get back your funds.
WHAT ALTERNATIVES?
Many people put all their
money into buying a principal
residence. But if your taxable
income is more than $30,000,
try to contribute even a few
hundred dollars to a RRSP to
get into the saving habit (and to
save at least 40 per cent tax).
Pay off your mortgage (or

If you are a skilled investot,’

you could do better than an

Check the_(re)assessment

352-1933

for 1993. If you
received regular private (not
CCP or OAS) pension cheques
in 1993, you may also put up to
$6,000 of the total into a
spousal RRSP.

If you receive severance pay
of a retiring allowance in 1993
and took the cash, you may still
put that money (within limits)
into your own RRSP. Note that
a large RRSP contribution
could trigger the alternative
minimum tax .

HOW?
Write a cheque. Or transfer
Canada Savings Bonds, term
deposits, stocks, mutual funds
and so on into a (self-directed)
RRSP. Transferring an instru-
ment that has'risen in value will
trigger a capital gain so you
might be able to use your capi-
tal gains exemption (while it
still exists), but you can’t use a
capital loss caused by such a
for tax

tribution - if. you can tolerate
the red ink and provided you
pay of the loan before the end
of this year.

risks - then di
Motual funds, which invest
your money in stock market
instruments (typically
stocks, bonds and mortgages)
both in Canada and internation-
ally, offer you a chance to
increase your return (as do indi-
vidual stocks, etc.) - but there
are few guarantees and no
Do your

Try to avoid carrying for-
ward an unused contribution
amount: you might never have
the cash to catch up. If you
know you'll be in a higher tax
‘bracket in the next year or so,
make your contribution now but
‘don"t claim it, until that higher
tax year (unless the rules
change to disallow this
approach).

WHEN?

Deadline.for 1993 tax- year
contributions is March 01

WHICH?

“The time for new RRSP
strategies” says the headline on
the current Royal Trust Mon-
eyGuide newsletter.

It’s the after-inflation return
that counts. If term deposits
yielding a maximum of around
five per cent, will provide
enough retirement income, stay
on the guaranteed route. If.you
need or want a chance to earn a
higher return - and, most

If you don’t have the money,
borrow to make you RRSP con-

if you {or
will learn about) the alterna-
tives and can accept higher

research, monitor your choices
and don't invest past your
sleeping point.

TO WHOM?

Contribute according to your
limits to a spousal plan (for a
married or common-law
spouse) if your spouse will be
in a lower tax bracket than you
when the RRSP funds are with-
drawn, especially if your
spouse is significantly younger
(so the money can grow tax-
free in the plan for a longer
period).

WHAT TYPE?

To simplify the bookkeeping
and avoid wasting money when
you move your money from one
RRSP to another, open a self-
directed plan. Pay the fee out-
side the plan and deduct on
your tax return as a carrying

charge.

-Copyright 1994

Mike Grenby is a Vancouver-
based columnist and indepen-
dent financial adviser who
works with individuals; he will
answer your questions in this
column as space allows - write
to him clo The Castlegar Sun.

Never enough hours in the day?

. . Raond
Time management seminar could be the answer

Submitted

Does it seem that no matter
what you do there just doesn’t
seem to be enough hours im the

day? For some of us the problem
is not the amount of hours in the
day, but poor time management
skills.

‘Time is one of the most valu-
able commodities we never seem
to have enough of. Lack of time
8 sanjor levee for moet of es. &

yardst

igh level of secure incomme thong oth te p ial
for gains

13.4%

of Rewurn

19.7%

Annas

16.6% 13.2% 12.4%

December 31, 1993

R. Davies & Associates Lid. (FPC investments inc.)
1418 Columbia Ave., Castlegar VIN 3K3 ° 365-0040

THE TAX MAN

To find out more call:

work effectiveness. How do we
make the most of our time, get
more from our day—without

reduce ‘tes stress and frustration
associated with “working against
the clock”.

A Time Management seminar
presented by the Federal Business
Development Bank will discuss

setting and managing customer
expectations, quality of time, and
four P’s of time

The seminm will be held in
(Castlegar at the Sandman Inn March
24 from 8:30 a.m. to 3:30 pm.

SURGENOR &
ROGERS
CERTIFIED GENERAL
ACCOUNTANTS
* Monthly and Year End

+ Auditing

+ Personal and Corporate
Taxes

Wednesday, February 16, 1994

The Castlegar Sun

Page 5B

How to maximize returns with minimal risk

Making the best use of your RRSP's is a mat-
ter of maximizing returns while

we towards lower risk should

ng risk.

But how can investors know how much risk
is too much - and how to choose the higher
yield investments consistent with that risk?
The key is to understand the four seasons of
RRSP investment.

The first stage of RRSP investment is accu-
mulation. This is the “nest building” phase.
Your investment objective is to get the highest
rate of return on your money while ensuring
the safety of the capital you accumulate. Gen-
erally, this covers the early years of retirement
planning from age 25 to 40, when the assets
you amass will benefit most profoundly from
the effects of compounding on a tax-deferred
basis. If you are extremely conservative in
your investment strategy, you may not be
able to be making the most valuable use of
your money at this time. In other words, to
have a large portion of your RRSP tied up in
a more aggressive strategy towards capital
gains- that is, choosing investments that are
likely to go up in value, and not just pay
interest or dividends.

The next phase, for investors between 40
and 55, is achieving balance. In this stage the
capital base continues to grow, but there is a
balance struck between high-quality, growth-
oriented investments and solid, income earn-
ing securities.

This period is a time of prime earning
power, so strong growth in your RRSP is
essential. In preparation for your next stage, a

rd with higher ones phased out
baron

Following this is a phase of conservation.
Your strategy should be to zero in on specific
investments to form the basis of your retire-
ment income. These should protect your accu-

mulated capital by being high-quality,
low-income sources.

Finally, your RRSP will reach maturity
when your are 71 or at retirement. At this
time, there are three major options. First, you
can cash in your RRSP and pay a significant
amount of tax on it immediately,

Second, you can purchase an annuity. Third,
and the most common, you can roll the portfo-
lio into a Registered Retirement Income Fund
(RRIF). This option will help you minimize
the tax payments as you gradually make use of
your investment. Whatever decision you make,
however, should be totally security oriented.

Examples of investments you might make
in the accumulation phase include equity

rities and convertible securities, growth
mutual funds, base metals, or options and
warrants, As well, you might invest in some
debt securities of Canadian governments and
corporations, income or balanced mutual
funds, and mortgages.

In the balance stage. growth investments that
dominated in the accumulation stage should be
played down in favour of income choices,
unless you are a particularly aggressive
investor, Your investments will be similar to
that of the accumulation stage, but weighted
more conservatively

In the conservation stage, selecting income
investments, along with short-term invest-
ments such as government guaranteed bonds
and Treasury Bills of money market mutual
funds, is wise. More aggressive investors may
wish to retain some growth assets, especially
if they intend to put there asset into a RRIF.
At all stages, a professional investment advi-
Sor can be very helpful in choosing the most

appropriate investments and helping to deter-

mine the proper asset allocation.

Investors can achieve both security and
strong earnings from their RRSP if they invest
according to what stage of their life they are
at. With RRSP's - as with seasons - there is a
time to plant, a time to grow, a time to reap,
and a time to’enjoy the fruits of your labor.

The information contained in this report is
obtained from sources believed to be reliable,
but we cannot represent that it is accurate or
complete.

Back on track and steaming ahead

“Well, after a long, frustrating
absence from The Castlegar

Sun, I find myself behind the _

keyboard once again.

Lately it's been very difficult
to focus on what it is I wish to
say in my column, but it would
seem my creative drought is
over. Most college students, past
or present, will understand the
dilemma I'm about to explain.

The high school to college
transition is a difficult one for
many, and coupled with the sud-
den loss of security of leaving
home, it has been quite and
interesting experience for me.

The endless task of feeding
one’s self (a task I find all but
i ible) Fi

imp 1g tog
the month's rent, staying on top
of one’s social obligation, hold-
ing down two jobs, and going to
coliege (did I mention the two
novels I’m working on?)...all of
which is bound to create a
whirlwind of thought in one's
head. This explains why I have
had difficulty in gathering my
thoughts; you need a net to
catch anything beneath the tur-
moil in my mind's ocean. The
solution? Get a bigger net.

The net was supplied by
Sharlene Imhoff, the editor her-
self. All it took to get me started
again was the realization that I
had slipped off my task as a
columnist for The Castlegar Sun
and into something completely
different.

My writing no longer con-
tained “meaning for the mass-
es”, as it were. I began writing
about things only a dozen peo-
ple would have understood
fully, sort of an extended inside

—Fhe-cotumm no -tonger tat —
the right feel, even Dan Carlson

doubted his ability to continue

Why wait for your tax
refund when you could
get Cash Back fast?

ee NEW”

B.C. Sales Tax Credit
$50 per person based on
family income.

If you qualify you can get a cheque

% of the first $300 of your tax
tefund and 95% of the rest. Plus
your tax return will be accurately
prepared at no exta charge. So why
wait for the refund cheque to arrive
by mail? Ask about Cash Back at
H&R Block, and get your refund fast.

- Available at most
H&R Block offices.

CASTLEGAR

1458 Columbia Ave.
Open. M-F 9-6 Sat. 9-5

Phome 365-5244
Visa & Mastercard accepted

writing: unsure of his prowess,
Dan felt his resources dry up.

Of course, this is all symp-
tomatic of being cast adrift in
one's mind's ocean, and the only
way to stop drifting is to cast
anchor.

Carison’s
Corner

Dan Carlson

So I did. I know all of my
friends can relate, as will the
rest of this column's readers;
everyone goes through a point
in their lives when they feel rel-
atively lost, and sometime I
wonder if some of my friends
even know they have anchors.

Regardless of this column's
metaphorical content, I have
retumed from the abstract-linear
world to my linear-abstract self.
I am sure many have (and per-
haps stiff do) felt the same way,
but I have found that if I consid-
er the options, I would rather
juggle seventeen balls than let
some of them drop to the floor.

After all, sooner or later I’m
going to slip on one of those
balls and land on my butt, and
all other tasks will rain down on
me. Best to keep one’s balls in
hand (please keep all derogatory
comments to yourselves).

As it is, I have a few tasks to
make right. This column is one

‘Tum to The

=

ie ny “n
wwe al tion

of them, of course. However,
it’s about one in the morning
and I still have another task to
set right, namely, a creative
writing assignment. Also,
tonight I have written an
English essay on Leo Tolstoy,
and I have done a few hours of
research on free trade, GATT
and NAFTA for a Political Sci-
ence presentation.

Most of these tasks are due in
about six hours. Burning the
midnight oil is Zoing to be my
new hobby, but I’m not stranger
to it, mor is anybody else in a
similar scenario.

I guess my point is in stress-
ing the importance of keeping
your head above water when
you become bogged down with
family, work, or social responsi-
bilities. With clear thinking and
organization, the tasks become
less menacing...and if someone
offers you help, accept it,
dammit! After all, seven are eas-
ier to juggle than 17.

It's going to take a while to
get back into the groove, but
I'm almost there. I just have a
few more adjustments to make,
after all, the college groove has
a few more steps than the high
school groove.

IMAGES

BEAUTY SALON

-fGe Call Betty or Leslie
Le now for an’
zi appointment
142 by. aad

365-261

T. oy The Opera Players presents

JAMA

LY Performance Dates CEN

Rossland Senior Secondary:
_ Friday, March.4
Saturday, March 5

Greater Trail Community
Centre Theatre
Friday, Feb. 25

Saturday, Feb. 26

All Performances start at 7:30 p.m.

Admission
$10 advance, $12 at the door
Tickets Available at: L & J Books in Trail and

Alpine Drug Mart in Rossland.

I guess the latter could be
described as “a blue-grass,
honky tonk, polka doin’, line
dancin’, high steppin’, square
dancin’, achy breaky twang” (I
never did like country), whereas
college is more of a free
flowin’, hip hoppin’, techno-
bass, metal funk. "Nuff sed.

A few words of advice: forget
Bobbit! The whole situation
makes 48 per cent of the general
population very nervous.

XXXXXAXIXIXXIXXXIIXIXIY

BUDGETGRO LID.

HYDROPONIC

SUPPLIES
* MS400W $149, uses
* MS1000W $219, taxes
Includes.
~ Lamp v Ballast 3
v Socket WY Lamp Wire

o Pigtail Cord

INTERESTED IN STARTING
YouR Own BUSINESS?

to be held
March 16 - 17
from 6:30 - 10:30 p.m.

$35.00
Place: Taylor's Place Banquet Room
Facilitator: MARILYN STRONG

To register or for more Information please call
365-6313
by the C: & District C! of Ci

Ministry of Small Business, Tourism & Culture and
the Federal Business Development Bank

‘KS

Kootenay Savings

Where You Belong

$1,000,000

Paid To Kootenay Savings
Credit Union Members
Through Profit Sharing

The Board of Directors of Kootenay Savings
Credit Unidn has approved the payment of a 5%
Dividend on Patronage Shares and a 4% Dividend
on Membership Shares as a result of the strong
performance of Kootenay Savings during 1993.

Additionally, members of Kootenay Savings have
also received additional Patronage shares based
on 5% of the interest paid on loans, and interest
earned on deposits.

1994 is the 25th Anniversary Year of Kootenay,
Savings. It also marks the completion of 50 years
of credit union service in Trail and in Fruitvale.

The 25th Annual General Meeting of KSCUis -
scheduled for Tuesday, April 5, 1994 at the
Cominco Gymnasium in Trail, B.C.

| nts sneer

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