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EE a a A a a eee ea, one. Pea. ae Ske, “Gu. See eee ieee ee ae ere Page 12 = Halton Hills This Week, Wednesday, January 20, 1993 RRSP investment eligibility Last week in our article "Not all RRSP's are created equal" we took a look at three basic types of the Registered Retirement Savings Plan (managed, mutual fund and self- lirected). Rick and I concluded that we feel the self-directed RRSP with- out question is the superior type of RRSP. The self-directed plan offers investors total flexibility. With the help of a qualified financial advisor the investor chooses the type of investment that suites his or her investment goals or objectives Most people don't realize the options that are available to them and the degree of control they can exer- cise over the direction of their wealth- creation within their RRSP. Some eli- gible investments for a self-directed RRSP include: cash, Government of Canada Treasury Bills, Canada Savings Bonds and other federal, provincial and municipal bonds. Corporate bonds and debentures, stripped bonds, bearer coupons, resid- uals and NHA Mortgage-Backed securities are also considered to be eligible. The investor may also choose units or shares of qualified mutual funds, common or preferr shares of Canadian public companies as well as certain rights and warrants. Guaranteed Investment Certificates (G.LC.'s) issued by Canadian trust companies may be included. For the more sophisticated investor covered call options against eligible shares of Canadian public companies and shares of Canadian controlled private corporations (subject to some restric- tions) are allowed. Shares listed on prescribed foreign exchanges not exceeding 18% of the total portfolio value at the time of purchase as of Jan. 1, 1993. Foreign content in the RRSP is expected to increase to 20% on January 1, 1994. Now that you have an understand- ing of what types of investments are eligible for the self-directed RRSP, Rick and I would like to share with you a unique investment opportunity offered to Ontario residents which is totally eligible inside an RRSP. The investment is called the Working Ventures Canadian Fund. The Fund is managed by Rob Begg, President and Jim Hall, Vice-President investments of Working Ventures Canadian Fund Inc. This is how it works. According to the brochure published by Working Ventures Canadian Fund Inc., "new income tax legislation provides two 20% tax credits for investment in labour-sponsored investment funds. Working Ventures Canadian Fund is Canada's first natioual labour-spon- sored investment fund, sponsored by the Canadian Federation of Labour." "Investors in Working Ventures receive RRSP deductibility plus a 20% federal tax credit and a 20% provincial tax credit on the first $5,000 of shares purchased set ee In all, you can claim 40% in its plas your regular RRSP tax a tion. "Working Ventures was created as a dynamic way to let your investment work in Canada toward making a bet- ter future for us all. By investing in Working Ventures, you're playing an important role in stimulating econom- ic ere and job creation in your aeavines “Your investment in Working Ventures will primarily be reinvested in promising, growth-oriented busi- nesses in your province. It is the small and medium-size business sector of the economy that has historically cre- ated the majority of Canada's new employment opportunities.” "While saving taxes, and contribut- ing to economic growth are impor- tant, it's essential that your investment performs. Working Ventures’ objec- tive is to produce the superior returns traditionally associated with invest- ment in dynamic and growing busi- nesses, while minimizing risk through prudent development and manage- ment of the fund.” or "Working Ventures is managed by an experienced investment team whose mandate is to achieve signifi- cant long term capital appreciation. by judiciously investing in a diversified portfolio of high performance, emerg- ing Canadian businesses. The portfo- lio will be diversified by region, by industry and by stage of investments.” "Due to the current economic envi- ronment, Working Ventures is in an ideal situation, prepared to take advantage of investments in under- valued businesses and positioned to profit as tn economy turns around in the future. eaddjwhile a anmjorty of the funds’ assets will be invested in enter- prising businesses to maximize return potential, risk is tempered by invest- ing a minimum of 20% of assets in debt obligations of Canadian federal, provincial and municipal govern- ments as well as in Crown corpora- tions and corporations listed on major Canadian stock exchanges.” If you have questions on Working gat or ae other investments, please cor Mr. tie aid Mr. Fisher are full service independent financial advi- sors. They can be reached toll free at 1-800-263-1668. Call today and. inquire about the NO-FEE self- directed RRSP. of Rick FIsHer & MICHAEL PHILLIPS say First MARATHON SECURITIES LIMITED “Consider all your options at RRSP time" For further information call today Seutor for By Les Mellish The Georgetown ant District Seniors Association has juncture in our affairs os a deci- sion will be made by council on pias or not it is prepared to pen a Seniors Centre for eperssici in a temporary facility, and when that will be. It is impor- tant therefore that the public under- stands seniors and their attitude, and as there are people who voice misinformation bout us for whatev- er reason, the Association Directors feel they have a responsibility to make facts known as widely as pos- sible. We are saddened to hear and read comments suggesting that different sectors of our community are com- peting for resources. This is Canada - a wealthy country. I say this in the face of the depressed state of our economy. There is more than enough money produced by the working population of Canada to satisfy reasonably the social needs of our total population. We all have a right and a responsibility to seek the satisfaction of these needs. In doing this we should be supportive of each other. In the very beginning of our work, the Seniors Association Directors visualized a stand alone building as most Seniors Centres are, but we quickly realized that other needs existed and could be met under the same roof. It is now the policy of the Provincial Government not to provide grants for stand alone Seniors Centres. They must be multi-purpose build- ings. We recognize that provision of such a building is a longer term project and in consequence, while continuing to raise funds towards this, we have for the past eighteen months been trying to get ourselves into temporary accommodati We believe we are close toa solution and with the goodwill of Council and the Community, we hope to offer seniors a program ina “starter home” of about 3,700 square feet. Our estimate for the needs of the senior population of Georgetown and district is 10,000 to 12,000 square feet, but that will have to wait for a permanent facili- ty. With reference to the Senior pop- bia retirement is happening to any people as young as 55 now, aud our best estimate of the Georgetown and district population 55 years and older is 4,700 to the Future 5,000, most of whom of course, would not use a Seniors Centre. But those who would are presently spending all day and every day doing whatever. Allow me to quote from other communities: Mississauga, Cawthra Road Seniors Centre’ - membership 000; Oakville, Sir John Colburn Sr. Ctr. - H Oakville Kerr St. Sr. Ctr. - 800; Milton Sr. Ctr. - 427; Brampton, Knightsbridge Sr. Ctr. - 600. We are anticipating about 400- 500 about the maximum capacity in the space we are considering. Imperfect as it will be, this will get us started and as it builds up its program and attracts seniors with a variety of interests, the value of its contribution to society will become more evident. This will lead to acceptance of the need for more space and a permanent facility. In this regard, we applaud the striking of a recreational study committee to - plan for the future recreational needs of Halton Hills. We expect that a permanent seniors recreation centre will be included in that plan. This need was revealed five years ago when Councillor Rennie, with the aid of Scouts and Guides, undertook a survey of Halton Hills Seniors and determined unequivocally that a need existed for senior centres in Acton and Georgetown and also have striven to get council to imple- ment a plan to fill this need. To deal with suggestions we have heard that seniors don’t need a place of their own, that they should be just included. with everyone else, allow us to say that we like to asso- ~~. ciate with young people - when there is a mutual desire - but each has a right to their own time in their own place with their own peers. Finally, it seems some people begrudge us the time we have to engage in activism on behalf of the whole community. Please note: Perhaps we’ve always had time for worthwhile causes such as; selling poppies in the sleet of a cold November day; raising funds for a new church roof; spending years of service to Boy Scouts and Girl Guides and many other voluntary organizations. Yes, we’ve done all that, now we are giving some of our. time in the cause of seniors. THE BEST at RESOLUTION 1-800-263-1668 for yourself this New Year! Keep fit & have fun! + 13,000 Ibs. of Free Weights * Cardio/Nautilus * Taekwondo ¢ Personal Weight Loss & Fitness Programs * Indoor Pool * Hot Tubs + Saunas ¢ Solar Beds a We offer les > OFF PER MONTI H | * The No-fee self directed RRSP FIRST MARATHON SECURITIES LIMITED OFF PER wont} WHEN YOU SIGN UP. EXPIRES JAN 31/93. ‘ WHEN YOU SIGN UP. EXPIRES JAN 31/93. 1 Lo MEN & WOMEN WOMEN ONLY Hwy. 7 & Winston Churchill Downtown Georgetown 873-9575 itch for wr Now Fuselfe/ 873-9655 * Available only through Mr. Fisher & Mr. Phillips