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C8 THE OAKVILLE BEAVER Wednesday July 4, 2001 Business To reach this section call 845-3824 Fax:337-5567 Sheridan names new Liberal Studies dean Linda Love has been presence at college since 1985 L ong-tim e S h e rid a n C ollege p ro fessor L inda Love has be6n named dean o f Sheridan C ollege's School o f Com m unity & Liberal Studies. H er appointm ent was recently announced by college president Dr. Robert Turner and vice-president of academ ics M aureen Callahan. "Linda has dem onstrated a high level o f com m itm ent and dedication to Sheridan over many years, and brings strong ad m in istrativ e and academ ic expertise to her new lead ership role," said Turner. L ove began her career at Sheridan in 1985 as a special educa tion professor. By 1993, Love was an A cademic Chair and in 1996 was named direc tor o f the form er School of Educational Services. In A ugust 1999, Love was pro moted to A ssociate Dean for the School o f Com m unity and Liberal Studies -- and has been its acting dean since January. Love has Bachelor o f Science in n ursing from the U niversity o f W estern O ntario, and a post-diploma certificate in M aternal and Child Health from Hum ber College. Currently, Love is com pleting a M asters o f Education from Brock University. Love has extensive experience in the areas of new program m ing and curriculum developm ent, and chairs Sheridan's Educational Planning & Program Review Com m ittee. The new dean also belongs to the H alton P rofessional B usiness W om en's Network and the Ontario Society of T raining and Developm ent. Love has been a board m ember of the Canadian Deafblind and Rubella A ssociation, and is currently the ad m inistration representative on Sheridan's board of governors. The School o f C om m unity & Liberal Studies is one o f five acade mic departm ents at Sheridan. It includes post secondary and post-graduate program s in every thing from early childhood educa tion, gerontology, adult education, and hum an services, to health care, liberal studies, academ ic upgrading, com m unity m erchandising, and E n g lis h -A s -A -S e c o n d -L a n g u a g e (ESL). The school is also responsible for Sheridan's early childhood centres at its Bram pton Davis Road campus and the Trafalgar Road cam pus in Oakville. Some 2,000 of Sheridan's 11.000 students are enrolled in the School o f Com m unity & Liberal Studies. And, five of Sheridan's top stu dent satisfaction program s are in the School, including Esthetician (99% student sa tisfa ctio n ), M ontessori Early C hildhood Teacher Education (99% ), H um an S ervices A dm inistration (95% ), Educational A ssistant (91% ), and V isual M erchandising Arts (87%). Photo by B rent Foster NEW TOOL MAN: Craig MacDonald accepts his Father's Day prize package of Craftsman tools from Kim LaRonde, director of marketing for Oakville Place. The tools are worth approximately $3, 675. Inflation can be a retirem ent killer Do you know you are being robbed? Every year, inflation steals some of your money's purchasing power because every year, the same things tend to cost more. Your purchasing power is being depleted. If you are working, the impact of inflation is lessened by any annual pay increase so you probably wouldn't notice the yearly nibble inflation takes out of your income. But if you are retired and living on a fixed income, inflation becomes painful after a few years. Several comments about inflation are worth making. Back in the 1980s, the inflation rate reached double digits, you might remember the value of your house skyrocketing, while at the same time those retirees on a fixed pension were struggling. Inflation during the 1990s was only 2.1% so most investors did not pay much attention to it. The most recent monthly inflation rate has jumped to 3 .9 per cent. To demonstrate how inflation can affect you, we will consider a 60-yearold woman who has $1 million in retire ment funds. At first it appears that she should be fine, but when we add in the effects of inflation, things might not be so rosy down the road. The first assumption we have to make PETER WATSON Dollars & Sense is how long she will live. According to Statistics Canada, her average life expectancy is 85. However, if we use age 85 we run a fairly large risk that she will live past that age. If we assume she will live longer than 90% of her age, then she will live to age 95. Now let's assume that 40 per cent of her investments are invested in RRSP and the balance is in non-registered investments. Also, the annual return on investment is 8 per cent. We will ignore taxes for o u r exam ple. Without inflation constantly chipping away at her wealth, she could draw a gross income of approximately $82,100 every year but would fully deplete her capital by age 95. So far so good. Now, if we include an inflation rate of 3 per cent, her annual income falls to $58,700. Push up the inflation rate to 3.9 per cent and her yearly spending ability falls to $52,400. If she increased her spending by 3.9 per cent per year to keep her stan dard of living equivalent to the original $82,000 her assets would be depleted by approximately age 76. What is likely for our hypothetical 60year-old, and perhaps you as well, is that she might misinterpret her wealth. After all, $1-million seems like a lot of money. Without being prepared for the long term effects of inflation, you might spend too much at the start of retirement and as a result, could outlive your capital or be forced to decrease your standard of liv ing. When making financial planning and investment decisions you must consider the effect of inflation. Ask your invest ment advisor to provide cash flow esti mates of your retirement spending taking into account the eroding effect of infla tion. Investing in "safe' GICs and other fixed income investments is often the least safe thing you can do. Yes, these types of investments avoid the anxiety of market declines but they often ensure theat your capital dies before you do. P e te r W a ts o n , M B A , CFP, R F P is the p re s id e n t o f P ete r W a ts o n In v e s tm e n ts -- an O a k v ille firm s p e c ia liz in g in re tire m e n t p la n n in g , R R S P s , an d in v e s tm e n t p la n nin g . H e ca n b e re a c h e d at 8 4 2 -2 1 0 0 . Linda Love: new Dean of Community & Liberal Studies J U L Y 2001 P IC K S F O R JU M f Bookers Bookstore, 172 Lakeshore Rd. E, Oakville · 844-5501 · bookers@sympatico.ca HOT SUMMER READS 1. 2. 3. 4. 5. 6. 7. 8. 9. THE STONE CARVERS, by J a n e U r q u h a rt P IS FOR PERIL, by S ue G rafto n A TRAITOR TO MEMORY, by E liza b eth G e o rg e ON GREEN DOLPHIN STREET, by S eb astian Faulks CANE RIVER, by L alita T ad em y NO GREAT MISCHIEF, by A listair M acL eo d ANIL'S GHOST, by M ich ael Q n d a a tje LA PRISONNIERE, by M alik a O u fk ir SIZZLING RESULTS: Churchill Place in downtown Oakville recently raised $500 for the Oakville United Way during its charity barbeque. That's Churchill Place Marketing Manager Carrie Losch with `CARE-Y' the United Way mascot and Ray Osborned, Food Services M anager cele brating the achieve ment. OMERTA. by M ario P uzo 10. CASSANDRA COMPACT, by R o b e rt L u d lu m GOLF, GARDENS AND COTTAGE LIFE 1. 2. 3. ON COURSE WITH MIKE WEIR, by M ike W eir THE MYSTERY OF GOLF by A rn o ld H a u lta in KI.S.S. GUIDE TO PLAYING GOLF, by Steve D u n o 4. 5. 6. WISE WORDS FOR GOLFERS by D ale C o n c a n n o n ANATOMY OF A ROSE, by S h a rm a n Russell GARDEN FOLKLORE THAT WORKS, by C h a rlo tte Ryrie Inter-provincial trade barriers still formidable A new study commissioned by the Certified General Accounts Association o f Canada (CGA-Canada) points to a lack of political will, procedural problems and the relatively low profile of the six-year-old federal-provincial Agreement on Internal Trade (ATT) for Canada's failure to achieve truly "free" interprovincial trade. The study, entitled: "Canada's Agreement on Internal Trade: It Can Work If We Want It To," provides the first comprehen sive assessment of the Agreement's first five years of operation and offers a seven-point plan for reducing and removing remaining barriers to interprovincial trade. "At a time when we are seriously considering opening our borders even wider to international competition, political neglect of the Agreement that governs interprovincial trade is placing Canadian jobs and Canadian business at serious risk," says Dale Gislason, first vice-chair of the Certified General Accountants Association of Canada. According to the study, authored by Robert Knox, former executive director of the Internal Trade Secretariat, the Agreement itself is basically sound and has had limited success in levelling the playing field for business in terms of govern ment procurement. However, many of the commitments made by governments have been virtually ignored and dispute reso lution processes are inaccessible, slow, expensive and, ulti mately, unenforceable. "The Government of Ontario continues to ignore appeals from the profession and from the provinces of Saskatchewan and Manitoba to open the practice of public accounting. In fact, CGAs across Canada have been waiting for more than a year for this to be resolved," says Gislason. Specifically, the study recommends that the federal and provincial/territorial governments: · Establish an information and reference centre to advise business and individuals on internal trade issues. · Operate an information program to increase awareness and provide documentation in the Agreement and its intricacies. · Simplify the AIT complaint process to reduce waiting peri ods for dispute resolution. · Make the complaint process less adversarial through thirdparty medication. · Renegotiate sections of the Agreement, particularly those related to investment, consumer-related measures and stan dards, natural resources processing, energy and transportation. · Establish a neutral monitor to review and report on the Agreement and its operation on an annual basis. 7. THE GREENGROCER'S KITCHEN, by P ete L u c k e tt 8. BARBECUE BIBLE, by Steve R a ic h le n / LAFARGE C A N A D A IN C . 1ST IH PERFORMANCE CONCRETE far the homeowner's outdoor needs Concrete 9. OUTDOOR ENTERTAINING, by B o n A p p e tit "Supercrete" for all of your homeowner needs. Patios, Driveways, Walkways, etc. O P E N S A T U R D A Y S E A S O N A U Y . O R D ER S M U S T B E P L A C E D B Y 5 P M T H U R S D A Y ________________ 10. MORE SUMMER WEEKENDS COOKBOOK by J a n e R o d m ell Collect your Air Miles here BURLINGTON: (905) 637-5607 M ILTON: (905) 876-4728 GEORGETOW N: (905) 873-0254 P IC K S F O R ( IIII^ D R E N 1. BUGS, BUGS, BUGS, by C a th e rin e Daly FUTURESHOP CORRECTION NOTICE * P ro u d 3 T im e W in n e r in th e BEST W IN D O W S C ateg o ry ." 2. 3. 4. SUNFLOWER HOUSES, by S h a ro n Lovejoy CARD GAMES FOR LITTLE KIDS, by G ail M acC oll MY VACATION PLACE: A MEMORY B OO K by J a n e D rak e In our June 27 - July 3, and July 4 - 10, 2001 Future Shop flyer, the following error occurred: 19% 1999 2000 5. 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