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TOE HERALD OUTLOOK Saturday October Page Seniors Older adults symposium By LES The Milton Senior Citizens Recreation Centre held a most in teresting Symposium for Older Adults at their premises 21 Charles St MUton on Oct 11 The panel of speakers Includ ed Doug Short Milton Fire Department Mrs Bradley who experienced a fire in her home Ann of Centennial Manor Pat Fitzgerald in surance Halton Housing Authority Peter Granny Flats Dino Mazarato Tenants and Rights Marc Winston Retirement Counsel of Canada Anna Mathieson North Housing Registry It ran from 10 am to 330 pm The speakers were interesting and informative and this brief report can only touch on the highlights of the day Fire Prevention Get fire ex tinguishers checked every year Change smoke alarm batteries when you change your clocks April and October Dont connect major appliances with extensions that are not adequate to carry the electrical load Ask Mrs Bradley thats how her fire started Phone the fire depart ment from a neighbours house not yours Get out and dont go back inside it is the smoke that kills Centennial Manor is a Regional Institution with 64 residential units and extended care facilities Changes are plan ned which will decentralize this kind of care for seniors and disabled allowing them to re main as much as possible in their own community and more than at present in their own homes as long as possible As a result of this the residential units will ft Main Street South Downtown Georgetown 8731470 disappear from Centennial and this service will be taken up in local communities The Manor will eventually be a 200hundred foot bed extended care facility Insurance Pat Fitzgerald of Fitzgerald Insurance simplified the fine print somewhat by go ing over details of coverage of fered by a typical policy for home and property insurance recom mending that we should look for statements guaranteeing replacement cost coverage and that we should ask about available discounts seniors non smoking presence of smoke alarms burglar alarms iden tification of contents neighbourhood watch etc Peter Gridland had a slide presentation on Granny Flats These are not yet accepted here in Ontario smaller lots are mak ing it even more difficult Some pilot studies have been done and slides clearly showed designs developed here and how they are placed on the lot by cranes some cases Several difficulties were mentioned and it appears that people and politicians have yet to be won over before they happen here if ever they do Marc Winston spoke of reverse mortgaging or Home Equity Conversion an interesting new opportunity in Ontario for a home owner with a mortgagefree home to release some of the money tied up in the property to provide additional income either for life or fixed term Shared accommodation is the business of Anne of the North Housing Registry Savings plans deadlines By JIM CAMPBELL If you are getting on in years and own registered retirement savings plans you have probably pondered your choices when it is time to dispose of them The law does not allow you to have beyond the end of the year when you reach Unless you cash them and pay tax on he full amount you will have to convert them into a stream of income payments the form of annuities or registered retirement in come funds or a combination The income paid to you is taxable in the year received but the money still in the plans remains taxsheltered Thanks to a liberalization in of the rules governing they have become more popular than an nuities Annuities are paid either for life or to age RRIFs on the other hand must always be paid out by age 90 The law sets a minimum amount that must be paid out of a each year but beyond this basic require ment tremendous flexibility is allowed Among other features you can have more than one RRIF can take out lump sums can convert an an nuity into a RRIF or an into an annuity you might want to lock in your money if rates are high and you can from a variety of payment options and change them if you like There is also flexibility in the in vestment options available under You can have a daily in terest or one that pays the same interest rate for a fixed term like a guaranteed investment cer tificate You can also buy a RRIF with payments geared to the per formance of a mutual fund or the ultimate in control over your retire ment income a selfadministered that can include stocks bonds treasury bills and mortgages If you are married it is important to consider your surviving spouse in buying a While your spouse will eventually receive the money anyway if he or she is the named beneficiary it is advisable to name your spouse as successor annuitant That way the payments would con tinue without disruption at your death The insurance companies trust companies and other financial in stitutions offering market their plans both directly and through brokers For advice on TV see Your Wealth available on broadcast channels in Ontario and on satellite across Canada or sec Money in the Bank on your community cable channel is general financial ad vice by Canadas chartered accoun tants Jim Campbell is with National Trust GEORGETOWN OPTICAL NO ONE EVER REGRETTED BUYING QUALITY MARKET PLACE PLAZA 8773562 HOURS CLOSED MONDAY Toes Ffi 10006 Saturday 000500 Her function is to bring together home owners with a room or basement to let with prospective tenants Altogether this was an in teresting day well organized and topics were well presented generally Thanks to Robin McPhail Coordlnator Milton Seniors Recreational Centre If any one has questions or com ments regarding the content of this symposium please call Mellish 8777749 J OSBORNE DECOR Custom Made Verticals And Bedipreads I FREE SHOP- ATHOME SERVICE I DENTURES FULL DENTURE SERVICES DIRECTLY TO THE PUBLIC Dona Insurance accepted WtinfclMlrAocnsWny Denture Therapy Church SI Georgetown Ontario 8772359 A FAMILY BUSINESS BUILT ON SERVICE 1 DAT NO PAYMENT I I I ONTARIO CHESTERFIELD WHOLESALERS BEHIND GUELPH AUTO MALL 120126 MALCOLM I 1