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Checking out mutual funds No matter what your occupation, you should recognize that the in- come you earn by working won't make you wealthy. Your career in- come alone may not even give you long-term financial security. Unless you take action, taxes and inflation will erode the power of your earn- ings and the value of your savings. To achieve financial indepen- dence and security, not only must you work for your money, but your money must also work for you. The surest way to build wealth and achieve your financial goals is through a lifelong program of pro- fitably investing your savings. Pooling power Mutual funds provide more than a million Canadians with a wide range of investment opportunities. A mutual fund is a pooling of money for investment purposes by many people. It's a simple, but very powerful concept. That's because mutual funds offer the or- dinary investor, who may not have a huge amount of capital, a unique combination of investment advantages: e Professional management of your investment funds. ¢ Diversification of assets, which gives you added risk protection. e Excellent long-term growth poten- tial and limited risk. e Access to many different types of investments, which allows you to tailor your investments to suit your financial objectives and needs, as well as adjust to changing economic conditions and tax rules. Look at the long term Markets move in cycles, as do most mutual funds. The only sure way to profit from these movements is to be a long-term in- vestor. Don't be distracted by short-term market fluctuations. In general, if your time horizon is longer, your risk exposure will be lower and your chances of realizing financial growth significantly better, particularly when you take into ac- count the compounding of your earnings. You can also balance risk and steadily increase your wealth by setting up a long-term investment program in which you make regular payments on a monthly or perhaps bi-weekly basis. If you set specific savings and investment targets, you'll find ways to budget more ef- fectively and perhaps earn extra in- come. As you see your wealth grow, your incentive to save will become even stronger. A spectrum of choices Because there are so many dif- ferent types of mutual funds available, you can benefit from pro- fessional advice in selecting in- vestments that offer the right balance of potential risks and Survey of credit cards Consumer and Corporate Affairs Canada today released the depart- ment's latest survey of credit card charges. The Ministry also made available an information sheet on the more confusing aspects of credit card interest charges. "| would like to call your atten- tion to the recently announced changes to the credit cards of some financial institutions and gasoline retailers,"' said the Minister responsible. "Two of the major gasoline retailers will now calculate interest charges on a dai- ly interest basis in the same way as financial institutions do." He added that these charges, as well as anticipated increased in the in- terst rate of some bank credit cards, will affect the credit card in- terest charges payable by Cana- dian consumers. More on page B7 Page B4, August 1988 rewards for you. You can choose a fund or com- bination of funds based on stocks, bonds, money market securities, dividends, mortgages or real estate. Balanced funds offer a blend of different types of securities. More specialized funds may focus on growth stocks or in- ternational securities. Mutual funds with a proven track record provide a significant degree of financial security. Solid, well- managed funds generally grow in value over the long-term. Borrow- ing to buy mutual funds, however, isn't recommended. Instead, it's a good idea to regularly set aside a specific amount of money and in- vest those savings in installments. Maximize RRSP potential Mutual funds can be used for many purposes whether they be to finance your children's education or make your retirement savings grow. Funds with at least 90 per cent of their assets in Canadian securities are eligible for RRSP and RRIF investments. By putting your investments in these types of funds into your RRSPs, your money works harder and your savings grow faster than if you don't put them into RRSPs. Mutual funds can help you to max- imize the tremendous building potential of your RRSPs. Mutual funds make it easy for you to have a balanced mix of in- vestment assets. In the long run, well-managed funds will enhance the power of your earnings and add value to your savings. Editor's note: This article is reprinted from the complimentary newsletter "Between Us"' provided by Jim Hughes, Investors Group, (705) 726-7836. Shoreline protection? Flood damage? Erosion problems? What's being done? By whom? PUBLIC MEETINGS The Shoreline Management Advisory Council was Midland: Midland Municipal Building 575 Dominion Ave. W. Natural Ontario established by the Ministry of Natural Resources to seek public opinions and suggestions on managing Ontario's Great Lakes shorelines. You are invited to participate and to make written or oral presentations at the next Council meeting. Sat. Sept. 10, 1988 1:30 p.m. Unable to attend? Address your submission to the Chairman, Shoreline Management Advisory Council, Room 5620, Whitney Block, Queen's Park, Toronto, Ontario, M7A 1W3 Ministry of Vincent G. Kerrio Minister Resources ATTENTION ALL BUSINESSES We Pay Interest on Commercial/Current Accounts up to $4,999 - 5.0% $5,000 and over - 64% Business & Personal Banking Come in today and discuss all your banking needs. Midland Mon.-Thurs. 9:00-5:30 248 King St. Friday 9:00-6:00 526-4296 Saturday 9:00-1:00 Marie Bell Mountainview Mall Mon.-Thurs. 9:30-5:30 526-2273 Friday 9:30-8:00 Shiela Webb Saturday 9:30-1:00 Collingwood 108 Hurontario St. 445-1020 - Margaret Nuttall OPEN SATURDAYS EFFECTIVE 21/06/88. pully SSIES Beats SS the municipal savings & loan Heipal Member Canada Deposit Insurance Corporation 21 Branches Across Canada MARGARET O'ROURKE ss ME O Kuterprises 549-4245 CUSTOM SIGNS 59 ROBERT ST. W., P.O. BOX 219, PENETANG, ONT. LOK 1P0 OUR SIGNS ARE A SIGN OF THE TIMES .-- FAST, EFFICIENT, PROFESSIONAL SERVICE FOR BUSY PEOPLE LIKE YOU! e BUSINESSES © PERSONAL ® STOREFRONTS e BOATS e CARS e TRUCKS