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° Page-18= Halton Hills This Week, Saturday, May 1, 1993 e | Simple formulas for financial success By Paul J. Rockel They should be taught in school... at least 10 times Per week IT’s YOUR MONEY and every school year from kinder- ey to university. are what I call the simple mig mid formulas for financial Paul J. Rockel is tees on those savings to be reinvested. Tam completely amazed at the Rule number two: There are only university students, yes even finan- two ways to invest your savings; cial writers who have no idea what- Loan... or Own. (1) Loan them to a Soever about these simple formulas. hank or trust company or a mort- There are even successful business gage, etc. whereby you receive People who don’t know them, even “rene” (interest), fully taxable. (2) though they may have unwittingly Qyn something with your savings, 4 applied them to become successful. such as a business, rental income For Mother S Da Let’s look at some of these for- building, mutual funds, stocks, mulas and the rules that go with whereby you receive two types of M 9g 1 99 3 them, income, namely dividends (profits) ay J, Rule number one: There are only and capital gains (or losses) both of {wo ways to receive income, one is which have lesser taxes"attached to them. Make her feel like a Queen. “person at work” the other is “money at work”. We all start out ‘The second formula is similar to i i: with one only, namely “person at the first, Time + Money + Rate of Take her out for dinner in a : work” and all dream of Tetirement Return. All three elements are Grand Marquis White Stretch which can only take place with important, but by far the most A. C. i = z “money at work”, es important is time. Example: a per- na eng Limousine. The formula to building that séc- son aged 25 who savee $100 per Limousine Service 877-1674 455-4112 ond income (money at work) is month till the age of 65 at a rate of threefold: (1) Save a part of what return of 15% would have a value you earn. (2) Entrust those savings of $2,455,144. Total invested to experts (don’t try investing on would be $48,000. A person aged your own) (3) Allow the earnings 45 who decides to play “catch-up” and starts saving $200 monthly at a rate of 15% till age 65 would also have invested $48,000 but will be worth only $282,744. That’s over $2 million less, yet both saved the same amount, and earned the same rate of return. But the 25-year-old had his first $100 the difference of over $2 million. My simple formula: “Start saving, early, entrust those savings to experts who will put it into owner- ship (not loan it), and let it com- Pound”. When you’ve built your savings, convert it into that “second income”, namely “money at work”. 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Patio doors out to newer | sie oom starter home, Siders off the | Sana tach reese coor fo | ct newer carpetg and no wa fot Drive, Georgetown, Ontario or eat-in kitchen to deck, 2 ae Sane a good size bedrooms, large living tm, ing or throughout, central vac ie * A MUST TO stti * 3 bdims. up 2 Phone 877-7216. tral air, kid's = hi in laundry room on main floor, family room i #900. LYNN GLAPSKi 843-2020 OR fantastic kitcher Paul J. Rockel is the author of rT TON it too. ext f9 Kitchen, $149,500. 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