The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

HERALD WedneKlay Much a ll Money Matters- The now expenditure can mean lost future benefits By PAUL J ROCKEL She confronted me with the statement Did you know our youngest son age cashed in of his mutual fund in vestments you made for him I had to answer truthfully No I didnt You see as a parent I had deemed that each of our five should end up with in vestments worth at least a million dollars by the time they are age I knew that if I in vested for them at birth and it averaged per cent per year through to age 65 which the good mutual funds have proven to do long term that would be worth over at age Financial mathematics alone tells me that So I invested for them at birth True I didnt know about these formulas when the first two were born so I bad to invest a larger amount when they were older You would have to invest at age 5 to achieve the same result and for a 10 year old In the case of our 16 year old the mutual fund investment had grown to almost It bad done better than 15 per cent He decided he wanted a motorcycle to get back and forth to work easier since age 14 he has been working as a packer and carryout person at a local supermarket after school and Saturdays While he had some money saved he was apparently short so he cashed in some of his mutual funds I didnt like it but it also open up the opportunity to get a message across Remember I asked him the riddle you posed to me a few months ago The one where you asked if Id rather have for working the full 31 days in a month or being paid one cent the Chamber planning seminar Statistics Canada have just released bankruptcy figures for Feb 1991 which snows that bankruptcies were 60 higher than the same month last year In fact there were over bankruptcies during the month The Hills Chamber of Commerce has in fact lost members who have not been able to survive the economic slowdown that we find ourselves in With these facts in mind the Chamber is planning a noon hour seminar called Business Realities In A Recession The Chamber has invited Mr Makovskis A Trustee in Bankruptcy for the firm of Donne Raymond to present in formation on how to avoid ing one of the statistics You will learn about the following sound management practices changing emphasis during a recession relationships with banks and creditors providing extra securi ty for loans and finally getting your questions answered The Chamber is providing this program to help our local businesses to remain competitive and viable these tough times The cost is just per person which includes lunch The information you receive could be worth hundreds of dollars The seminar will be held at the North Halton Golf Club in Georgetown Tickets may be reserved by calling the Chamber Office at 7119 Take advantage of this low cost way of making your business bet first day two cents the second day four cents the third day and doubling the amount every day for thirtyone days Do you Certainly he replied The person who took the penny the first day two cents the second etc would have ended up with over 10 million in total pay 10737418 to be exact for the 31 days That was much better than offered for the month Now I responded lets ap ply the same principle to your life Remember that monies averaging 15 per cent per year double in value approximately every five years Just like the worker who took the one cent the first day and doubled the amount in the Buceeding days would you sit down and double 500 every five years starting at your age now years old through to age and tell me what answer you get I gave him pencil and paper went away and let him go to it A little later he came to me and told me that 500 doubled every five years for 50 years age to ITS YOUR MONEY Paul J allow it to build add to it regular from our first income until such time as we feel comfortable that we have enough MONEY AT WORK at work to provide the se cond income sufficient to support us For a projection of now much yon will need or for more In formation contact Peter MBA Regal Capital Planners Ltd 10 Drive Georgetown Ontario or phone 8777216 Paul J is the author of the beat teller Why I Invest la Mutual Funds and President of Regal Capital Planners Ltd saw ft to age 66 would be worth Thats over half a million dollars He was right His comment Wow that motorcycle is going to cost me over Dad I better replace that back into my mutual funds as soon as I can hadnt asked him to 1 Possibly that was the best expenditure he ever made or will make because It was used to teach a valuable lesson Too many of us save or use our sav ings to spend NOW without giving a thought as to how much that NOW expenditure cost us in lost future benefits If we are saving to build a second in come first Income is YOU AT WORK second income is MONEY AT WORK we should Associate Tax Consultants INCOME TAX RETURNS DONE MonThurs Friday Saturday 900am530 pm 900 am 700 pm 900am300 pm 101 GUELPH ST GEORGETOWN 8772217 WE ARE FULLY COMPUTERIZED unci can pieparo most lax roturns while you wait Wo include FR Taxation Data Coimn THE CORPORATION OF THE Town of Hills 1 Halton Hills Drive O Box 128 HILLS Georgetown Ontario COURTESY NOTICE OF A PUBLIC MEETING WARD 2 NINTH LINESTEELES AVENUE General Committee for the Town of Hills will conduct a Public Meeting to examine and discuss a proposed amendment to Zoning By law 51 to permit a contractors yard for the storage and repair of equipment related to agriculture The property ts located on the west side of the Ninth Line north of Avenue in the Town of Halton Hills Further information is available in the Planning Department ALL INTERESTED CITIZENS ARE WELCOME Time Date Monday April 1991 Location Council Chamber Hills Centra 1 Hills Dun Haiton Hills Georgetown File No- D14ATWELL FINANCIAL GUIDE ST A IT HaR BLOCK Canadas Tax ream to for you TAX TALK am full time former Must I register for GST though my farming operation Incurred a loss last year and fully expect to Incur I a loss for 1991 New In A New jamb Of A Possibly You are required register your annual taxable sales and revenues including zero rated goods and services are over As a fanner most of the goods or services you provide are zerorated i they are taxable a rate of as opposed to being tax exempt Thus you will be able to claim full input tax credits on your purchases but only if you register Because you will almost always be in a refund position you are encouraged to file your GST returns on a monthly basis and as soon as possible after the end of each reporting period COMPUTATION ON LOCATION An flaw amain Ik in Computer Data 37 MAIN ST GEORGETOWN 8776S65 87756J6 NEED HELP With Your Tan TAX RETURNS- PREPARED Tox Manning Accounting ft Financial ComuTfalkm I JOHN A GIBSON ACCOUNTANT Georgetown PUZZLED ABOUT YOUR FINANCIAL FUTURE We Can Help Make All The Pieces Goebelle Mac Adam Alexander Chartered Accountants WITH THREE LOCATIONS TO SERVE GEORGETOWN BRAMPTON Main St South IB Rogon 6S49B 877 5155 8405518 8266352 Daniel Varanelli Certified General Accountant Personal And Business Tax Heturns Accounting and ng Serv Fmancai Statement a rat or Payroll GST Sales Consultat on Computerized Fast and Accurate FREE INITIAL CONSULTATION Hwy Financial Planning Centre Full of Financial Services Including Income Tax Return Preparation Individual I ha I you gat oil and tax la lot nam Drop off tonka or 8731877