in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, Ju ly 25 ,2 01 9 | 10 Join Us! TEPPANYAKI GRILL - SUSHI - SASHIMI - DIM SUM www.august8.ca 280 North Service Road W.@ Dorval Oakville 905-338-6228 Call us for reservations 7 LOCATIONS TO SERVE YOU. New! Chinatown Location Now Open $2.00 OFF LUNCH ONLY Dine-in,cash only & with this voucher.Offer valid at Oakville Location only. Limit 1 voucher per table. not valid on weekends and holidays $5.00 OFF DINNER ONLY Dine-in,cash only & with this voucher.Offer valid at Oakville Location only. Limit 1 voucher per table. not valid on weekends and holidays A FEAST FOR YOUR SENSES. ALLYOU CAN EAT LUNCH OR DINNER 2018 Multi-Award Winner! Reduce debt. Debt is a threat to your financial health because it doesn't let you make the most of your money. That's why debt reduction is a fi- nancial goal for many peo- ple. The correct financial strategy for each house- hold can be different. How- ever, there are a few gener- al rules that often apply. Paying down debt is al- ways a good idea. Start with loans that have the highest interest rate charge. Credit card bal- ances should be paid monthly before the astro- nomical rates apply. Check to see what op- tions you have on your mortgage to prepay above and beyond normal mort- gage payments. Reducing your mortgage from time to time can, over time, result in significant mortgage in- terest rate savings. Accumulate assets. If you have a high tax- able income making annu- al RRSP contributions is a good idea. Contributions can be used to reduce your personal income which saves you taxes. For every dollar contrib-For every dollar contrib-F uted to an RRSP you could save 30, 40 or 50 cents de- pending on your tax bracket. Most people have three financial stages of their lives. Stage 1: When you have personal debt and a rela- tively high income, maxi- mizing RRSP contributions while reducing your debt is a good strategy. Stage 2: After your per- sonal debt is eliminated, continue making RRSP contributions, but now also start saving outside an RRSP. Two options are a Tax Free Savings Account and regular non-registered investments. Stage 3: Now you have retired, and it is time for you to start creating your own pay cheque. What funds are coming in from employment pensions and government entitlements? Start a regular withdrawal from your savings in order to continue with your de- sired lifestyle. There are other consid- erations. A Registered Edu- cational Savings Plan al- lows parents to save for the post-secondary education of their children. Savings to an RESP are encouraged by offering an annual grant by the gov- ernment. Try and make an- nual contribution limits in order to achieve the total grant of $7,200 per child. Reduce debt, accumu- late assets, and live the life you desire. Peter Watson, of Peter Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contact- ed through www.peterwat- soninvestments.com OPINION REDUCE DEBT AND ACCUMULATE ASSETS LIVE THE LIFE YOU DESIRE, WRITES PETER WATSON PETER WATSON Column DFK Practice Kids / Prints / Metroland PRACKIDS-PRINT-METLAND-5_145x3_714-E-0219 Studio BF 11 01 26 26 Proof reading Art Direction V er si on 0 1 20 19 .0 1. 09 Production Redaction Client Services Cl ie nt : Dr ug F re e Ki ds C an ad a Pu bl ic at io n : M et ro la nd Ag en cy : FC B M on tre al Si ze : 5. 14 5" x 3 .7 14 Ti tle : Pr ac tic e Ki ds Is su e : N/ A TALKING ABOUT CANNABIS CAN GO MANY WAYS PRACTICEKIDS.CA