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HALTON HILLS OUTLOOK Stnrdijr Business There is only one important item in an RRSP Saving It my bet thai ihe biggest majoniy or Cana dians put money annually into an Registered Retirement Sav ingi Plan save taxes They that I he most important element in their In fact a friend mine Brian Coxtcllo noted columnist author or several books radio and TV financial commentator often stain that RRSP should not be called by that name but rather at namely REBATE Sav ingi Plan because most people use hem to get a rebate on their taxes we don deny that saving laxes is an Important reason for using art RRSP Bui your future re is also important and the of dollars available for that retirement are equally important and maybe even more important than just saving taxes The reasoning Government used Tor selling up was to encourage you and I to save dollars for thai future retirement The In used to get us save was the lax deductibility of those RRSP savings After all If all of us used RRSP and became wealthy for our retirement which is possible for all of us then the Government would save millions and billions of dollars by not having to pay us the Guaranteed Income Supplement which today virtually hair of re tired Canadians need which is paid over and above he Old Age Pension paid to everyone who is retired ITS YOUR MONEY PaulJ Rockel and existing only si the poverty level Saving taxes is indeed important but you save the same amount of taxes whether you pui your RRSP dollars where they earn or where they earn 12 or or better The tax savings ate not re to what you tiro in re latians the amount yon Invest and the rate of lax on your income To me rale of is equally important as the current tax If there were neighbors each saving 000 per year each years old and investing that yearly through to age if one earned 10 he be worth 253 the one earning would be worth and the one achieving IS would be worth One of the emerging truths of this decade is lhat Canada population is aging The baby boomers of today now busy establishing homes and raising families will in another years form the group of seniors ever in this country Because banking is a service in that trend is already having considerable impact on bank prac does and policies much to the benefit of Canada s senior citizens who have become a major of the The direct response of banking to he larger numbers of and more prosperous seniors is through customer service at the reuil level in other words what the local branch can offer A ppealing to the set has been a feature of banking services in the Hypenrtflatjrjn fallowed by recession which characterized the early years of the decade the special of those on a fixed income It has been recognized lhat retirees or those about to retire are from their savings and keeping costs as low as possible As a result two areas have been emphasized many seniors service pec reduction or elimination of service charges and premium rates of interest on savings deposits Each bank has its own approach but these two threads are a common factor to all Often a feature of the package is a card lor use in the bank s automated idler machines ATMs ftwplewho may been reluctant to try these machines arc encouraged to try them as one answer to waiting in long lines Some banks have extra staff the counter to serve pensioners at peak periods of ATMs also have access to their accounts after regular business hours Normally there a commission cost on purchase of money orders or travellers cheques Then are service costs to write cheques pay bills or transfer funds between counts They can add up Seraors can talk to branch staff about how to get discounts or com pletely eliminate many service charges with a seniors age lb get these privileges all a senior has to do is ask Banks also may provide special cheques and deposit slips with copies which provide a copy of each transaction as it is made Many people find this to be a convenient record keeping method Planning fix is another way are reaching out to senior citizens For example banks offer Registered Retirement Savings Plans and Registered Retirement Income Funds RRIFs Further in formation about services for senior is available from your local branch When it comes to banking there are advantages in having reached the golden years And that the way it should be HYUNDAI COUNTRY Sales I Least I Paris Service ST GEORGETOWN 171 OVER 20 YEARS How does your stack up against the Industrial Growth Fund standard Be I Because few Investment fund can compare with Industrial Growth year record I Check the figures I I SYR 1 J RHSP Isrtt up to the Industrial Growth standard not j good enough And more information on real goods Is just a phone call away Peter C MBA 1987 are average annual compound based upon the net amount invested and include reinvestment of dividends Hate of return arc calculated bij ore deduction of maximum performance is not necessarily indicative of future results Any only by prospectus which contains of all charges Please it before making your purchase dud retmnitforfutun reference The Industrial Group Funds looking both To manage your Belter Wow Rale or return Is intpor tarn maybe even more important than tax savings I II take the mil lion any day rather than ihe or And feel confident I can achieve aver age per year because most good mutual fundi have long lerm records equalling that and belter Your comments and question Special services available for an welcomed Write Paul J Regal Financial Centre 1S3 Union St E Waterloo On tario N2J 1C4 andor or a copy or his book Why I Invest In Mu tual Funds forward payment of retail PAUL J Is President of THERES A LOT OF INTEREST IN MUTUAL LIFES No Fees or Charges on Interest Accounts Competitive Interest Rates Great Income Options at Retirement SAVE WITH CONFIDENCE WITH MUTUAL LIFE FOR DETAILS CALL 877 Tom V Mutual Below is the professional help and advice youre looking for in your til wedding plans These advertisers will provide the experience and 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