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- Setting your financial goals "A Family Tradition for 128 Years" With the hustle and bustle of daily life, most of us have little time to consider long-term goals, such as how we can save the money for the downpay- ment on a house, or whether there will be enough left over for our children's education. That's why it's important to take the time to think about your future, to think about your long-term goals and what you'll have to do to achieve them. To set financial goals, your first step is to establish your net worth, the difference between your assets and your liabilities. Your assets should include cash savings, Canada Savings Bonds, the cashable portions of life insurance policies, jewel- lery, cars, boats, RRSPs and, if applicable, the equity in any property or business. Once you have determined your assets, add up your short- term liabilities, such as charge accounts, credit card balances, loans and taxes due this year. Then, calculate your long-term liabilities, such as mortgages and business loans. Always remember to factor in cash reserves - equal to about four month's worth of your sala- ry - to cover emergencies, in- cluding loss of employment. Also, do you have enough to pay for short-term necessities, like vacations or appliances? When you have calculated all of your expenses, how much cash is left to invest? If there isn't very much, then you should seek a way to make both your fixed and liquid as- sets more productive. This is when you should examine your long-term goals, such as buying a home, a cottage, or taking an exotic holiday. Other things you will want to consider are whether you will want to buy a larger home in the future, or perhaps move to a dif- ferent neighborhood. And do you want your children to at- tend a community college or university, or send them to an out-of-town institution? Possibly the most important question you will want to ask yourself is: What kind of life- Ball, Callery expand service Ball, Callery & Associates are pleased to announce the expan- sion of our working relationship with Jim McHugh and the Equi- on Group. Effective Oct. 1, 1994, Jim will be available to serve our clients out of our Port Perry Office located at 204 Casi- mir Street. Over the last two years, Jim has been working closely with us at our Whitby office to the benefit of a number of mutual clients. In a continuing effort to provide superior service and ex- pertise, we are very excited about our new opportunities in Port Perry. Since 1986, Jim has been a fi- nancial advisor with the Equion Group, a partnership of finan- cial services professionals who Have you used your Capital Gains Exemption yet? This year, the Federal Budget eliminated the $100,000 personal capital gains exemption. Depending on your circumstances, this could cost you as much as $40,000 in extra tax down the road. Don't panic. At BDO, we believe that sensible tax planning NOW will save you significant tax dollars later. To learn more about how the elimination of the capital gains exemption will affect you, contact your professional advisor. BDO DUNWOODY WARD MALLETTE Chartered Accountants 38 Toronto St. N., Uxbridge 852-9714 CIBC CIBC - 145 Queen St. Port Perry, Ontario Tel: 985-4444 PORT PERRY CIBC | Come to CIBC for all your Personal and Professional Banking needs. Instant [eller have developed into one of Can- ada's leading financial plan- ning and money management organizations. Since 1980, Equion has accu- mulated over a billion dollars of assets under management for 10,000 clients. The firm offers a well defined approach to invest- ing, stressing professional man- agement combined with a bal- anced portfolio. Equion's specialists, such as Duff Young, C.F.A., Senior Fi- nancial Analyst, are regular contributors to most Canadian financial publications such- as the Financial Post, Globe & Mail, and Financial Times, Jim McHugh utilizes the combined talents of Equion's many spe- cialists with his approach of de- signing financial strategies based on clearly defined goals and helping clients systemati- cally move towards these objec- tives. Ball, Callery & Associates are an Insurance & Financial Plan- ning Firm with over 45 years of combined experience providing excellence to over 150 corporate and 1,000 personal clients. We specialize in Personal Risk Management dealingin the are- . as of Business Insurance, Em- ployee Benefits, Retirement and Estate Planning. Our mis- sion is "The Achievement of YOUR Financial Security through Personal Risk Elimina- tion." Courtesy of, Ball, Callery & Associates, Port Perry THE (MORIGA B®) FROM 7.5% Ist Mtges. to 95% 2nd & 3rd Mtges. » Rental Properties 8 Cottages * Re-financing e Debt Consolidation e Rural Properties e Self Employed ¢ Bad Credit No Income - No Problem Prime Deals Below Bank Rates Fast Professional Service since 1975 style do you expect to lead when you retire and will you have the means to support it? It's very difficult to pin a pre- cise dollar value to these ques- tions, which is why you may need to consult a financial plan- ner or investment advisor. A professional investment expert can advise you as to how much you'll need to earn to support your long-term goals and will be able to suggest ways in which you might better realize them. These experts will likely sug- gest such investments as mutu- al funds, real estate, or a care- fully selected common stock portfolio. Mutual funds, in fact, might be the most attractive op- tion because they are liquid, di- versified and managed profes- sionally. Consider all investment op- tions carefully with the help of a professional financial planner orinvestment advisor. Examining these options 1s an important first step in meet- ing your long-term goals. How- ever, once you have established a plan, have the patience to make it work. You won't become a millionaire overnight, but by reducing your expenses and debts, planning your taxes care- fully, and saving and investing, you can make a great deal of headway in realizing your per- sonal financial goals. Courtesy of, Robert Gow, Richardson Greenshields, Oshawa Forder-Parks Insurance Brokers Inc. (CN HOF 5 YEAR 8.25 985-8471 34 Water St., Port Perry, Ontario LIL 1J2 our hest rate Subject to change without notice 666-4986 Value investing. In a few select companies. The Ivy Canadian Fund portfolio is constructed of a few companies selected for value and safety after an extensive research process -- based on the premise that the managers are buying part of a business and not just a stock. For information on a grassroots approach to money management that has been proven to work, call me today: C1 ROBERT GOW (905) 434-7156 111 Simcoe St. N., Oshawa, Ontario L1H 7M9 Important information about this mutual fund is contained in the simplified prospectus. Investors should obtain a copy from their investment advisor and read it carefully before investing. When purchasing mutual funds, investors should be aware that: » mutual fund investments are not guaranteed; ¢ unit values and investment returns will fluctuate over time. TY -- IVY FUNDS Madkenzie ee su a ss ss ss ss ss aa" a" ss sa "s" a "sa "2" a a a att -- , a : . I I IX KIRIN XIE XS Van Camp & Keller Chartered Accountants Income tax planning and return preparations e Personal tax returns electronically filed * Financial, estate and retirement planning INDIVIDUALS - CORPORATIONS - SMALL BUSINESSES - FARMS 204 Casmir Street, Port Perry, Ont.. LOL 1B7 (905) 985-9725 a a