tba yin

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WEDNESDA

- Glance

Education is! the uae

has space

uage class and a D
February 7.

Options unlimited
In Nelson, another session of the

Best sales

Kalawsky

the month for December. Congratulations Ike!
‘Top Dog!

visit her in the store's new location.

tie Read at the Nelson Campus of Selkirk College.

inv

courses that rhs ir Vana 29, Spaces are also available in Sign
Language classes: a CPR Entry Level A class begins February 3; a
L history course begins

people skills,
Fee: cyan tne fb er sil at orc
with at least a grade 10

Pontiac Buick announces that Ike Braga was salesman of

Hilltop Dog Grooming Salon and Pet Supplies has recently relocat-
@¢ to the Columbia Piaza. Owner Sandy Franks invites everyone to

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

Building up an adequate

It's a battle of the giants: iner-
tia vs. investment, And this con-
flict is probably eae ne

now in your

diversifying by putting some
money into mutual funds. You
must accept sotne risk: there are

inertia wins, you lose,

“Inerti * state. of being
inert; inactivity, sluggishness” -
Funk & Wagnalls Standard Col-
lege Dictionary.

Inertia may be sluggish. But at
the same time it's a tireless fight-
er, especially when you is

no g 68 And you stand to
lose as welll as ‘make money. But
you reduce the risk if you move
slowly and easily.

Most financial institutions now
sell mutual funds. That gives you
a chance to invest a relatively
small amount of pred in a vari-

“investment” in its broadest
sense. Too many of us succumb
to inertia, and we pay a price.

Investment covers almost
every aspect of dealing with your
money: saving (so you can
invest), paying down debt (which
produces one of the highest and
safest investment returns), saving
income tax (another high yicld
strategy) as well as actually
putting moncy into deposit instru-
ments, the stock market, property
and a business.

You are most likely to succeed
in your fight against inertia if you
build up.an offensive gradually.
Find and follow the path of least
resistance.

For example, if low interest
rates on your savings are getting
you down, you might

ety of
bonds and other debt oor obliging
and stocks.

Go to the place where you do
your banking. Ask for informa-
tion about mutual funds. Read
the literature. Write out any ques-
tions you have and ask the mutual
fund specialist in the branch - or
head office if necessary.

Compare the performance of
the fund(s) you are considering
with that of the ds of other

oan sa Saar process. As you
get the literature and statements,
you will become more familiar
with mutual funds. You might
then feel ready to look at other
funds or at some point Lemme
even move to direct

offence

This is always a good time of
year (0 think about saving income
tax. Uge all. the hype about regis-
tered retirement;savings plan to
Motivate you to.contribute to a
plan + to lower your tax bill now
and enjoy tax-free growth of your

the stock market.

Use the same approach if you
have an, affinity ‘for investing ‘in
revenue property.

Buying the first place and

how to deal with a tenant
will be the most difficult, The
second time moon you'll have
more

Sit down with the RRSP expert
at your financial institution. Buy
(or borrow) one of the books that
explain. RRSPs, Set up a regular
contribution

If you cers be no money to
invest, again make that first move
to build some savings. Sign up
for the Canada Savings Bond
payroll plan at work or use the
same approach at your financial

funds. Canada's major financial
papers provide performance sur-
veys of all the funds around the
- middle of each month.
See if your ipany’s funds

; set up an
transfer every month or payday to
a special savings/investment
account.
If you have debt, see if any

about other ways t to save tax. It's
too late to do much for the 1993
tax year, but start now on 1994.

By now, inertia will be down
for the count. You and your
finances need never feel threat-
éned again.

Copyright 1994
Mike Grenby is a Vancouver-
based columnist and independent

have been doing reasonably
well. Once you understand and
feel comfortable with investing
in mutual funds, Sign up for an

ic ly fund pur-

or even

tion would banish the red ink
sooner. Even if you go in to see
the loans officer to increase your
payments you have scored
against inertia.

| adviser who works with
‘individuals; he will answer your
questions in this column as space
allows - write to him clo The
Castlegar Sun.

ee ail

The Castlegar Sun . -

Castlegar Selkirk Lions memb:

ers Carl Linkletter (far left) and John MacPherson
(middle), present a cheque for $1,572 to Lions Treasurer Bob Sorenson. The
money was collected over a period of six months from
local businesses and goes toward the club's Campaign SightFirst. The Lions Club
would like to thank all businesse

31 wishing wells located in

s who agreed to hold a well.

SUN STAFF PHOTO ‘Cath y Ross

It’s not too early to
contribute to your RRSP’s.

RRSP ignorance isn’t bliss for inflation-squeezed retirees

A surprising number of people are still
ignoring the best way to ensure that their
retirement years are secure. A lot of people
never invest in anything other than a home -
and that can mean significant hardships down
the road.

do don't often index them for inflation. That
means can quickly erode the value of
the plan payments, and leave retirees progres-
sively more squeezed for money as they age.
For instance, a 7 per cent rate of inflation will
cut a fixed income in half in

Many people I meet still
don't .have Registered
Retirement Savings Plans
€RRSPs) because they,
incorrectly, either believe
that they don’t need them, or
that RRSPs are complex and
too costly to have. General-

ten years.
RRSPs are d

times what it would have outside, the plan.
(Furthermore, by transferring this monéy to a
Registered Retirement Income Fund (RRIF)
at retirement, you can further defer paying tax
until you are in a lower tax bracket!)

It is exactly this tax-free over
the long-term within RRSPs that allow

specifically to help ce
ans avoid thaf problem! To
encourage people to use
them, the government has
made the contributions tax
a deductible. In addition.

ly, these people are relying
on feat government and company pensions to
‘them when they retire.

SHunafely. many Canadiitys who
“ihdught that way in the past are flow paying
for it. Nearly half of Canada’s senidr citizens
are living at the minimum subsistence level
defined by North American standards

Part of the problem is that government pen-
sions provide only a very low level of income
That situation may worsen as Canada “Grays”

- since in’the future fewer people in the work-
force will have to support Proporrionally more
retired people.

At the same time, many companies don't
provide pension plans any more - and those that

ings and capital gains
within the RRSPs-are (ax sheltered. This is
extremely important, because it means that
ganvings can be cOMpoynded taxefree within
the plan. That way. the plans-earn far more.
even after tax is paid when they are closed,
than if tax was paid each year on investment
earnings
Let’s take an example of an investor in a 50
per cent tax bracket who has $1,000 to invest
each year at 12 per cent. Outside an RRSP this
would produce $39, 529 in 30 years, after tax.
In contrast, inside an RRSP the final total
would be $241,333. Clearly, even after paying
tax at the closure of the RRSP, the investment
within the plan will have eamed two to three

to create a nest-egg
enough to make retirement financially wq
free. Note the results if an investor begins to
contribute $4,500 annually to an RRSP eam-
ing 10 per cent, starting when he or she is 28
After tax deductions, this works out to invest-
ments of about $250 or less per month, but
will result in a $1 million RRSP by the time
the contributor turns 60.

se4qNor are RRSPs difficult to set up or oper-

Ate Potential investors cam ger information
and advice easily from their Financial Advi-
sor, bank or trust company

_ -RRSPs are, a simple, effective and realistic
way for most people to provide for a securc
retirement. For the majority of Canadians.
these financial tools are just too important to
ignore! a .

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

Submitted

to feedback from

cally to the needs of small busi-
ness operators and those who
would like to enter the
ial arena.

within the business community,
‘Owen Morris, instructor in the
4 a hk detent

at Selkirk College, has developed
a series of courses geared specifi-

Global markets are ex

informative investment seminar.

Seminar Highlights

. Protecting your assets through diversification
e foreign content in an RRSP
Taking of emerging markets

© Value of global investing

¢ Leam about appropriate asset allocation

Expand Your Investment. Horizons

anding, and currently offer exceptional
opportunities for Canadian investors. Find out how you_can profit
from international diversification by attending this important and

Plan to attend :

Wednesday, February 2, 7:00 p.m.

Columbia Room

Castlegar Sandman Inn

= your FREE Reservation
Call 354-4834

Geating i ited)

on sei “ait

Offered evenings through Con-
tinuing Education at the Castlegar
Campus, the business develop-
ment series meets Tuesdays from
6:30-9:30 p.m.. Morris leads off
with a six hour course presented
over two evenings entitled Intro-

detail the factors critical to the
success of a business. A practical

outcome of this course is that
each will develop an
outline of his/her own business
pian together with a personal

These two items are essential
ige for anyone i
ing the plunge into self-employ-
ment. The Introduction to Sinall

Business course begins Feb. 1,

The next offering in the series
begins Feb. 15 and is a complete
overview of Marketing for Small
Business. Effective marketing is
more than simply advertising. All
of the factors that contribute to
successful marketing will be
introduced, and by the second
session of this course, partici-
pants will have developed a mar-
keting plan related to their own
businesses.

The third part of the series
deals with ‘personnel

New course examines critical thinking in business start-up

. “It is within every busi-
ness" best interest to treat its
employees fairly,” Morris says:
“Unhappy staff can result in

customers, and unhappy
customers go elsewhere.” This
three hour session deals with the
small business payroll. This ses-
sion is offered March 8. In this
session, learn how to set up a
payroll system that meets your
legal responsibilities as an
employer. Unemployment insur-
ance premiums, Canada Pension
contributions and income tax
deductions are examined. As in
other sessions, participants’ own
business situations will form the
basis of

A :
T

Maximizing your RRSP

P
0 PAY MORE TO YOURS
AND LESS TO THE TAX MAN

TOY

PPORTUNI

ELF

And more. Many investment
contribution is the smart way to options are available. It's your
save taxes now while investing prime opportunity to: _

© maximize you RRSP
contribution
© take advantage of

v!
And it’s easy as a phone call
to your local Investors
apr 7 for a one-year RRSP loari* representative.

—» RE investors /
Group

#1444 Columbia Ave., Castlegilt’. ‘

aN
\

Building futures
since 1940.

To find out more call:

Jim Laktin
365-7777

Reading from the journals

Merry of soul he sailed
on a day
Over the sea to Skye

Robert Louis Stevenson:
Over the Sea to Skye

Maria, a friend of ours who
lives in Mission can get more for
her travel dollar then anyone I
know, and moreover, she has a
formula for this frugality. “You
have to be young”, she says,
“female, single and have friends
in the places where you visit.”
She could have added that being
attractive, vivacious and intelli-
gent is also a big help. We
chronologically and physiologi-
cally disadvantaged types, how-
ever, have to lean heavily on
Lady Luck. Our trip to the magi-
¢al Isle of Skye in the Inner
Hebrides is a case in point

We ieft Aberdeen on August
25, 1990, for the Clan Donald
Centre on the Isle, since Bunny is
a MacDonald and had to visit it
Alex Cormack, our host, train-
buff and scholar, and his brother.
Dr. John Cormack of Rossland,
accompanied us as far as Arrochar
on the West Highland Line, after
changing trains Lad Glasgow. They

has Bunny nodding into sleep”.

suddenly the panting and
puffing of the little engine ceases.
‘We have reached the crest of the
Jong hill of this little - known engi-
neering marvel”. (It was built by
Robert McAlpine at the turn of the
century, and required the greatest
amount of concrete ever used in
Europe up to that time).

With a few tentative snorts and a
shrill cry from its high-pitched
whistle the train starts to race with
an excited thumpity-thump down
the steep slope to Mallaig, the

greatest herring pont in Europe and
the jumping-off place for Skye
Happily the ferry vessel, the M Nv.
Tona is still loading and late in
leaving, as usual, so that we board
her immediately. The half-hour trip
also enables us to have a lunch of
haddock and chips - not too flavor-

were great

rk at the little port

amusing and i mative about
the ever-changing scenery of the
‘Western Highlands.

of Armadale on the tip of
Skye, catch a taxi immediately
and within minutes are set down

We ight at the
Stag’s Head Hotel in historic Fort
Williams on Loch Linne in the
shadow of Ben Nevis—touristy
and expensive, though the moun-
tain alone is worth the visit.

Next day we caught the train
for the west coast port of Mallaig
and climbing and twisting
through picture- postcard country-
side had a new view of the
famous Glenfinnan monument. It
marks the spot where on August
19,1745, Bonnie Prince Charlie
unfurled his father’s standard to
rally the Highlanders in a gallant,
but futile attemipt to regain the
throne: of Scotland, and which
ended tragically in 1746 on the
bloody field of Cullodin Moor.
The monument which stands, at
the head of lonely Glen Shiel is a
tall, stone tower surmounted by a
kilted Highlander. A grand and
touching sight. We had
approached it from the other side
several years earlier and climbed
to the top too, but not any more.

The train is full of young
Japanese tourists, my journal
notes, who totally ignore the open

sea-loch) which winks and
gleams on the distant horizon.
The clickety-clack of the wheels

If high prices leave you

C@LD...

then come to our

JANUARY
CLEARANCE
SALE

40% ort

and more

ALL WINTER STOCK

Georgie s
Ladies Wear
1129 - 4th St., Castlegar
365-0954

at our chosen-quite-by-chance
hotel, the Ardvasar. A 200 year-
old coaching house and pub, it has
been restored by our attractive and
charming hostéss, Greta Fowler
and her husband, Ken, a former
Cunard Line chef. A bit pricey,
but for me a dream come true.
“Greta greeted us like long-
standing guests, showed us to our
attractive and cozy room upstairs,
explained supper (casual, in the
pub) and dinner (formal, in the
dining room) plus a few other

Canvassers still needed

Submitted

The Castlegar Unit of the
Canadian Cancer Society held its
first mecting of 1994 on January
12 at the Castlegar Hospital

President Ruby Marsh was
pleased to see the number of vol-
untcers attending, also a new
member in the group.

Late February will see the
return of the Mammography
Screening Van in Castlegar for

depending on growing condi-
tion’. Plans are made for the
event, and it is hoped sales will
once again be brisk
Arrangements are also being
made for a second informational
luncheon to be held at the Sand-
man Inn on Saturday, April 9. It
is expected that Dr. Mitchell-
Banks of Creston will be the
guest speaker. This no-host lun-
cheon will be open to the public,
as well as other units in the area.

Bocidngs will be taken closer to
the date of the event.

The Castlegar Unit topes to be
fible to find enough local can-
vassers to again make the April
door-to-door campaign a huge
success. It will be difficult to
improve onthe 1993 total. but
with everyone's help and dedica-
tion, it is hoped that our goal will
be accomplished. New Ganvassers
are always welcome. The next
unit meeting Will be on March 9

six days, and arrangements are
being made for volunteers to help
with the clerical work. Appoint-
ments may be booked by phoning

From Aardvarks to Zebras
and Zippers fo Antiques
the Classifieds sell it

1-800-663-9203. The Society
advises all women who are 40
years or older to have a

all.

gram every year.

Patient services volunteers are
still very active in the area, and a
total of $2,641.22 was allocated
to local cancer patients during
1993 to assist them with the cost
of transportation, lodging, dress-
ings, etc. during treatment.

Daffodils will be on sale again
to local businesses and organiza-
tions towards the end of March or
at the.beginning of April,

of travel

essentials, and left.”

Since it was.a beautiful day
and still early afternoon, we
decided to walk the mile along
the shaded and serpentine road to
the Clan Donald Centre. The Clan
Donald is one of the largest and

» oldest in Scotland and so numer-

ous in Skye (home of the famous
Flora MacDonald) that I
remarked that one could not
throw a stone in any direction on

See TRAVEL 6B

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