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Page 28 — Halton Hills This Week, Wednesday, September 22, 1993 When Old Age’ Security Runs Out By George Perdue, B.Sc. P. Eng. Just how long can the ments is already in place. It states that those people ‘urrently, people with an $80,000 taxable income get no OAS. Not too many peo- ple today fall into that cat- egory, but some do. The catch is that the trigger point starting the clawback does ee move up as ‘fast as When ‘will the majority of us have to be concerned? That is a tricky question. The Carmil sounds politi- cal. “It deper ‘Amongst. ‘other things it depends on: inflation, income requirements or potential, the government’s ability to pay, the tax this amount will grow con- siderably because the buy- remember the cost ofa loaf of bread w youngster? If the average rate of inflation in the years or $117,000 in 30 Money Talk with George Perdue years to maintain the buy- ing Power of $36,000. ewise the trigger point of the OAS “claw- back” will also move up. In 10 years it is estimated to be at $62,000 and at $72,000 in 20 years and $83,000 in 30 years. This means that families with buying power equivalent to $36,000 today will receive no OAS in 28 years or so if the Bevernmont is capable of paying we do financial plane'w we observe various situations concerning the retirement aspect of peo- ple’s lives. There have been some constants in the analysis. — Generally, income requirements are lower in retirement. children have left the nest. The mortgage is paid off. Work related expenses decrease. In fact many peo- ple require 20% or a0 less to live on in retirem A husband and wit both collecting old age security nada Pension to the reasonable pension can top p the require “Riowever, many péople we plan for do not have full Canada Pension because and smaller company pen- sions. This trend can be expected to continue as companies fracture and large companies provide fewer job: By observation we can also expect the O. appear in the not too dis- tant future. So how will people retire in a fashion they have become accus- tomed to? Something must give. Either expectations will be ed retirement investing will be required. In our practice we see now that the transition will be difficult for many. People at or near retire- ment with no private pen- sion and without full CPP already face longer work- ing periods and or lower The coming depletion of OAS will make an early start to personal pléting even more critical. Time is the nectar that makes investments grow and peo- ple will require the maturi- ty to take the long term retirement view at an ear- lier age. George Perdue is a Financial Planner, Business Consultant, and contacted at (416) 873- 1877. Last Wednesday at the Knox P Church in Horticultural Society (GHS) presented the Georgetown Garden ane sponsored by the Brampton Real Estate Board (BREB). Pictured above from left, is New Home Improvements Award winners Donna and Blake Smith, Water Garden Award winner Bernard Middleton, Rose Garden Award winner John and Susan Lefeuvre, which was presented by BREB Director Linda Armstrong, and GHS president Randall Brandford. photo by Simon Wilson/HHTW. Last y at the Knox P Church, the Georgetown Horticultural Society (GHS) presented the Georgetown Gardens Awards sponsored by. the Brampton Real Estate Board (BREB). Pictured above is GHS 2nd Vice-President Alison Meeks (left), BREB President Mike Collins, with Award winners (from left), Neighborhood Appreciation Award winner Jerry Courney, Townhouse Garden Award winner Elsie Norgrove, GHS Choice Award winner Nellie Jonkman, and BREB Choice Award win- ners Vicky and Ray Inglis. Photo by Simon Wilson/HHTW CANADA TRUST Canada Trust Realty Inc./Realtor BILL ELLIS ** Associate Broker 877-9500 877-7528 a OVER 20 YEARS EXPERIENCE IN REAL ESTATE Office: Residence: Sunday, Sept. 26 2- 4 pm un Mist tine Erin, R PERFORMANCE COUNTS pe mile nor , fi Dora MacKinnon All offers ntoranes on this lovely ae a c ‘ country h at must be sold 2¢Hour “Associate Broker & due to ‘employee ihocation, If your home is sold, you should on see this o @ before : you Reduced to $23 32,000 — details ul Bill Ellis** at 877-9500 or 877- CT92-033 WAITING FOR A >. NEW OWNER * Super 3 bdrm. end unit in new area * New condition — nearly new appliances & blinds * Neutral decor — move-in condition * 4pc. bath and powder room * Garage and paved drive — lots * of parkin, * Low maintenance costs * Immediate possession * Only $132,500 — Try your offer today! Call Dora MacKinnon** 93-2384 See it with Bill Ellis 877+ 9500 or 877-7528 CT93-011 ~ ¢ CALL THE wa: KIDS Here is that perfect three bedroom starter in Acton’s Glen Lea. Well established, quiet area. Features a back yard oasis. All for $149,900. Call Bill Ellis** at 877- 9500 or 877-7528. CT93-010 GET IN THE This knock- ou home will be built st id. The raised bun- spacious living with 4 bed- Situated in Wonderful Wildwood ar ens main tor fendy. ne tat and ron Hetelly the time to choose your finish and spend Christmas in the country. Call Bill Ellis** at 877-9500 or 877-7528. US to 1/2 acre yard. Priced ‘o sel. sell — “Now or ont =o aie your appointment to view with Dora MacKinnon** today.