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Plan early if managed and well By Andrew _ The cost ef a university educa- my fourth year cost $2,300. If this rate of increase continues, in 20 years tuition will cost $6,300. From here you can add at least $6,000 for other costs. When all is said and done, a four year degree will cost more than $50,0000. The point is, planning during the early years is essential if your children are going to be able to attend university. The wide variety of choices available for saving for an educa- tion makes the decision confusing. ‘The list includes RESP’s, trusts and buying Canada Savings Bonds, among others. As a financial plan- ner, I have my opinion on the best option to choose for a savings pro- gram. The program should offer superior returns, security of capital, flexibility and no taxation. The only option that offers all these features is a trust set up in the child’s name and invested into a capital growth account. The way this works is surprisingly simple. Just save some money every month and direct your financial institution to put it into a trust in your child’s name. The money should go into a mutual fund that offers capital growth as its main source of income. Capital growth mutual funds offer superior returns over time allowing the money to work hard for your child. Mutual funds are He LAMINATION PLUS WANT TO KEEP IT? LAMINATION PLUS IT! | PROTECT YOUR PAPER MATERIALS. RI DESKTOP PUBLISHING WITH UNLIMITED DESIGNS. GIVE YOUR WORK THAT. TOUCH LAMINATION PLUS {T! diversified, allowing security of capital. The trust allows your child to use all of the money, even if they choose not to attend university. The money can be used for anything your child needs. In other words, it big higher Halton Hills This Week, Saturday, June 19, 1993 — Page 11 education in child’s future is flexible. Finally, no tax will be paid on the returns. The capital gains exemption in Canada allows the money to grow tax free. Saving for an education in this way is painless and efficient. If you put $50 away every month for 18 years, the value of the savings will be $35,500 by the time your child starts university. An education is something we all want for our chil- dren, why not plan for it? Give Us 5 Minutes oShed A Little If you have any questions about saving for an education, or other financial. planning concerns, ‘Andrew can be reached at 877- 5495 or 450-1500. Or go and see him at 2 County Court Blvd. in Brampton at Investor’s Group. ightOnAn Ci Alternative To ity Banking. If you are over 50, dont currently do bi a savings or chequing account at a big city Give us five minutes to shed There are no strings at come in fora five minute chat. Walk M e e 3" municipal trust The hometown alternative to big city banks. *Offer ends July 3, 1993 or while supplies last. Ask at the branch JUSINESS And Welll Give You The Little Light. at Municipal Trust and have bank, heres an offer you cant refuse. alittle light on why youd be better off at Municipal Trust and welll give you a $12 Mag Lite absolutely free. tached. No cost, no other obligation. Simply out with a free $12 Mag Lite. Georgetown 28 Main St. S., 873-4077, Ed Shaw for comple: te details. Offer avai on a lable only at this pai rticipating branch. «»