The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

10 -- PORT PERRY STAR REAL ESTATE -- Wed., Jan. 3/90 Auctioneers Novice 1 team finishes third The Pearce Auctioneers Novice 1 team finished third in round robin play in the Bowmanville Toro's Schickedanz Christmas Classic Tournament. Port's first game, December 27, was against Pickering and after a scoreless first period which saw lots of chances by Port, foiled by the Pickering net minder, they stuck to hockey in the second. Brad Johnston put one on the board for Port, late in the second on a nice shot from the slot, going upstairs. Scott Jeffrey and Adam Hobbs drew assists on Brads goal with never-ending efforts in the corners. Port didn't let up from this point on when their fore- checking and back-checking paid off not one minute later, when Blayne Kinnunen and Ian Parlia- ment set up Adam Jones on a quick shot from the hash marks to put Port ahead 2-0. In the third, the boys stuck to basic hockey and were rewarded once again when Jonathon Reed set up Blayne Kinnunen who made no mistake to go ahead 3-0. The defence unit of Vanschagen, Moynes, Kowlaczyk and Gray kept Pickerings shots to a minimum, though Shane Savage and Corey Branton made some key saves to keep the momentum up until late in the game when Pickering scored to finish the game 3-1. Game 2, December 28 would see Port go up against Stouffville and what would be an action-packed game. Stouffville opened the scoring in less than a minute, but Casey Vanschagen tied it up half way through the frame on an end to end rush assisted by Adam Jones. In the late going of the first, Blayne Kinnunen found the mark by standing his ground in front of the net. Nice going Blayne. Just seconds into the second, Jonathon Reed won the opening face off and fed Blayne Kinnunen at the side of the net and he threaded the puck through the goalie's pads to make it 3-1. Adam Jones struck for two goals with assists going to Adam Hobbs on both and Seth Gray's shot from the point. Jonathon Reed blasted one by the net- minder on a nice set up and hard work by Brad Johnston. Stouff- ville closed out the second mak- ing it 6-2. With the defence strong and keeping the puck in the oppos- tion's end, Jonathon Reed would RRIFs -- THE FLEXIBLE RRSP RETIREMENT OPTION Registered Retirement Income Funds - RRIFs. The name has become synonymous with flexibility. Yet few people nearing retirement are familiar with them, and fewer still are using them to their advantage. What is a RRIF? Think of it as the reverse of your RRSP. Instead of contributing cash to your RRSP, your RRIF pays you from the amounts that you have accumulated in your RRSP. Why should you consider a RRIF instead of an RRSP retirement an- nuity? Because you decide how much income to receive from the RRIF. You are not locked into a predetermined payment schedule. If you decide to take an extended trip, you simply request a larger payment. if you need cash for a medical emergency, you can withdraw it from your RRIF, possibly on a few days notice. You might even want to use RRIF funds to help your children with the down payment on their first home. Most importantly, payments from the RRIF can be adjusted upwards each year to take account of increases in the cost of living. This feature could become extremely critical if we go through another round of double digit inflation. You might also want to scale down your payments to reflect decreased spending in later years. The amount of cash transferred to your RRIF from your RRSP and the amount of investment income earned inside the RRIF determine how large or small your RRIF payments will be. Like an RRSP, this investment in- come is not taxed. pa Any RRIF payments received, however, are taxable in full, just like any other pension income. Beginning at age 65, RRIF income is eligible for the pension income tax credit, which could be as much as $260 in 1989 depen- ding on the province where you live. For 1989 this type of pension income is eligible for a deduction of up to $1,000. Starting Up A RRIF To start a RRIF, you first must go through the formality of converting your RRSP. This must be done on or before December 31 of the year you turn age 71, which is the normal date by which your RRSPs must be matured. Your RRIF administrator can handle the details, leaving you with only a form or two'to sign. ' Payments from the RRIF must begin in the year you obtain it, or in the following year, and payments must end in the year you, or your spouse it younger, turns age 90. You must receive at least one payment each year, although monthly payments can be arranged with most RRIFs. Each year, a minimum amount must be paid out from your RRIF. This is determined by formula. For example, assume that you are age 70 and you have $10,000 in your RRIF. In that year, 1/20th of $10,000, or $500 must be paid out. The 20th in the fraction is calculated by subtracting your age (70) from 90, the age by which all amounts must be paid from your RRIF. Next year, when you are age 71, the minimum payment is 1/19th of the amount in your RRIF (80 minus 71). Most seniors opt to receive more than the minimum amount. Investing RRIF Funds Even with this minimum payment requirement, RRIFs have earned the reputation of being extremely flexible. You can use almost the same range of investments with a RRIF that you have used with your RRSP -- savings accounts, GICs, mutual funds. You can even have a self-directed RRIF and invest in the stock market, a very risky undertaking if you are retired. You can-arrange for your RRIF payments to be the same size as an- nuity payments, or you might choose to receive a smaller initial payment that increases annually. And, at any point you can use the funds in your RRIF to acquire a life annuity if you are worried about RRIF payments not 'extending beyond age 90. A last surviving spouse annuity will do exactly what it says --- guarantee payments for life to the spouse who lives the longest. ou should, however, bear in mind two important points about RRIFs. First, the size of your payment depends on the amount of investment in- come earned inside the RRIF. The more money you take out in the early years, the smaller your payments will likely be in later years, unless your RRIF investments do very well. Second, you cannot use your savings to replenish funds In your RRIF. Only RRSPs can be converted to RRIFs. If you are within a year or two of retiring, you owe it to yourself to think about using d@ RRIF. The more financial options you retain, the more stais- fying your retirement years will be. net his second, unassisted. Get- ting his hat trick midway through the third was Adam Jones assisted by Jonathon Reed and Justin Kowalczyk. Stouffville finished off the scor- ing when they finally got their third, past the Port goaltender "after being shut down by Corey Branton and Shane Savage time and again. , Great passes and hard work paid off as the Auctioneers took 5 points in this game with an 8 to 3 win. Game 3 on December 29, saw Port face off with a strong En- nismore team. The forward lines of Adam Jones, Scott Jeffrey, Jonathon Reed, Brad Johnston, Adam Hobbs, Ian Parliament and Blayne Kinnunen were shut down by a strong Ennismore defence. By the third, Ennismore was ahead 3-0 and the team of Savage and Branton had faced many hard and threatening shots. When final buzzer sounded the En- - nismore team had gone ahead 6-0 and the many good passes and defensive moves by Port just couldn't get one on the board. This would put Port in third place of round robin play of points, putting them up against a team from Saltfleet. For the "B"' Division title. On December 30, Port started out strong with many heads-up passes and notched one by Blayne Kinnunen from Casey Vanschagen to even the score 1-1. The first period ended 3-1 with Port's goalie team of Corey Bran- ton and Shane Savage keeping it close. By the end of the second, Saltfleet had gone ahead 5-1 and never looked back in the third with two more markers. Casey Vanschagen scored midway through the third from Justin Kowalczyk and Adam Jones which showed the team, never let up even in the dying moments. This was a busy week of hockey for parents, players and coaches alike. Congratulations players and coaches for a very respec- table finish. To start off the new year the Novice 1 club will be in Gravenhurst, January 6 for a weekend tournament. Good luck and a prosperous 1990 to all. Throw-away products are garbage Pictured above are some of the polystyrene products that have become very familiar to consumers over the last few years. Most are used once, then tossed in the garbage where they eventually wind up in landfill sites. The Canadian Polystyrene Recycling Asso- ciation says that these plastic throw-away products actually account for only about one per cent of the total materials that wind up in landfills. However, the Association has launched a feasibility study to find out if it's possible to develop a Canada-wide program to recycle these kinds of products. The Association says the technology to safely recycle resin products has-been developed and manufacturers already use "in-house" recycling practises. As part of the feasibility study, the Assocaition says there is a need to educate the consumer on how these products can be recycled. Several fast food outlets in Toronto and Montreal, along with the cafeteria in a large Toronto high school have been targeted to take part in the in-depth study on recycling these kinds of products. In Canada about 200,000 tonnes of resin based plastic are produced each year, about half for durable prod- ucts. Just under 100,000 tonnes go Into "single use products" such as food and beverage containers and food wraps and packages. As well a large amount of plastic arrives in Can- ada from off-shore, in the form of packages and wraps for numerous products. Winter driving reminders When snow and ice cover our streets and highways, driving skills are taxed to the maximum. The Canadian Automobile Association recommends the following winter driving tips: -- On packed snow or ice, start gently and gradually. In a car with a manual shift, you might find it helpful to use second gear while with an automatic transmission, use 1 or 2. Keep wheels straight ahead to ease starting. -- Get the '"'feel" of the road quickly before entering busy traf- fic. Try a light speed increase and test braking to determine the available traction. -- Keep your car pulling steadily. Abrupt turns, lane changing and sudden acceleration or braking can cause bad skids on ice and snow. Anticipate turns or speed changes and make them slowly and gradually. Don't jam on the brakes, squeeze them. Declutch with a manual transmission or put the automatic transmission in neutral. This will help to allow a shorter and straighter stop. -- Should you find yourself skid- ding this winter, release the ac- celerator and look and steer in the direction you wish the car to travel. Don't brake - the front wheels of the car must be kept rolling in order to steer. As the car responds, straighten the front wheels. -- Allow a greater following distance so that you will have plenty of room to stop. It takes three to twelve times more distance to stop on snow and ice than on any other pavement. -- Learn the temperature traps. Ice and snow last longer in shady areas, curves, overpasses and on bridges. Be extra cautious in such places. And, beware of "warm or wet" ice. Ice and snow are twice as slippery at 0 degrees celcius as they are at -18 degrees. So be on guard when the temperature is just around the freezing mark. -- Posted speed limits are for ideal conditions. In winter, half the posted limit may be too fast. The real speed limit is your good judgment. -- Keep the gas tank half-full dur- ing the cold weather. A full tank checks condensation, and that means less risk of water in the gas, with possible tie-up if a bit of it freezes in the lines. -- Always try to leave yourself an 'out' when parking during snowstorms. Avoid parking on an upgrade unless there's ample room to back out. On a downhill slope, leave enough space to pull out without backing. Also when parking, run the car back and forth to make a track that will make it easier to get out later. A RR