WHITBY FREE PRESS, WEDNESDAY MARCH 16, 1883, PAGE 19 Find out the whole truth about annuities: columnist By PAUL J. ROCKEL Syndicated Columnist Almost everyone talks about the time they willl "ilve off their annulty" . Even younger people are sold RRSP's and in- surance policies with the idea that some day you can convert those dollars to an annulty and "live happily ever after". But is an annuity.the answer? In most cases we be- lieve - no. What is an annuity, anyway? Put simply, an annu- ity is an exehange of money for the purchase of a monthly income. Almost aIl annuities are "lite" -annuities, and they guiarantee you an income for as long as you live. Along with that income some people take "Iguarantees" for 5, 10, or 15 years. If you take the guarantee, the income would continue until the end of the guarantee period, even if death occurred tirst. But...with the guaran- tee, the monthly payout on the annuity is less. The person who simply takes the lite annuity will receive a consider- ably larger monthly in- corne than the person who chooses the 15-year guarantee. There are two "«guar- antees" that moat an- nuity mnerchants neyer telktheir prospective purchasers about. And.. .we believe that every prospective pur- chaser should be made aware of these truths. The first guarantee is that the purchaser will from then on have a lesser standard of living from those dollars. This 18 not the fault of the an- nuity, it is the fault of In- flation. The person who retires on $1,000 per month today, will need $2,000 par month eigbt years from now, if infla- tion averages 9 par cent par year. But with the annuity, once the mon- thly payout has been set, that's It. The second guarantee that is very, seldom mentioned, is that "at death or the pariod of the guarantee pariod (whichever is later) you are guaranteed to have nothing from those dol- lars." In other words, if a husband took out an annuity, and then died, payments would stop, and his widow would have nothing from that source. Or, at death, there simply would be no dollars to pass on to his children or widow. TIvhat's guaranteed. No estate from those dol- lars. And yet lite insurance agents continue to push them ... to selI them... without telling people "the whole truth". They simply tell peo- pIe "you are guaranteed an income for the rest of your lite". You are. But very seldom do they tel The Ladies Auxiliary of the Royal Canadian Legion Branch 112 wilI hold a sports dance on Saturday, March 19 beginning at 8:30 p.m. at the Legion Hall, 117 Byron St. South, Whit- you that you have now forteited control of those dollars, you have now purchased a "lmonthly income" that will neyer change, or give you more, even if the cost of living goes up, and that when you die (or the end of the guarantee pariod) there is absolutely noth- ing lef t for your wife and/or children to re- ceive. by. There will be a hot meal as well as spot and door prizes. Tickets are $8 par couple at the door. Everyone is wel- corne. Are there options other than annuities to give you retrement in- corne? There certainly are, yet 90 par cent of the people ln' Canada have no idea about them. The indoctrina- tion about annuities has been almost complete. But, the other story 4"must be told" . For a free brochureon RRSP's that talks about "other options" at retirement, write: Paul J. Rockel, 145 Union St. E., Waterloo, Ontario N2J 1C4. EDITOR'S NOTE: Paul J. Rockel i. President of Regal Capital Planners Lt. and the Indepen- dent Investment Fund Deaiers Association of RAISED ~PRINTING *" BUSINESS CARDS " ETRED ILa ENVELOPES NATURALISTS MEETING The March meeting of the Durham Region Field Naturalists will be held on Monday, Marc'h 28 at 8 p.m. in the audi- torium of the McLaugh- lin Publie Library, Bagot Street, Oshawa. The evening will be a Members Night with members displaying and discussing their hobbies. Also. there will be a representative of the Federation of Ont- ario Naturallsts giving a talk on the Breeding Bird Atlas of Ontario. Members and. non- members are ail wel- corne. There will be cof- fee and cookies after the presentation, and an opportunity to find out about upcoming meetings, outings and activities. OPEN HOUSE Parents Without Part- ners, Pineridge Chap- ter, wiil host an open house at St. Georges Church Hall, 51 Centre St. S., ýSunday, March 20 from 2 to 4 p.m. The event is being held to in- vite single parents and their children to explore new avenues of single lite. The programs that Parents Without Part- ners offers will be dis- played. These include tamily activities for children of ail ages and educational and social activities for the single parent in today's society. Ail single parents are invited to attend. Custody of.your children is not a requirement for membership. For more information please cal 579-5063 or write Post Office Box 234, Oshawa, Ontario L1H 7L5. SAIL PROGRAM The Whitby Yacht Club's Winter Sail pro- gram is in full swing every Wednesday night at 8 p.m. at the club, located on the west side Of Whitby Harbour. Wednesday, March 16 a alide show featuring the Newport Cruise in 1980 will be shown. Eleven boats from Whitby joied in this spectacular cruise. In- .,~ y' Ladies auxiliary holds dance BROOKLIN, ONTARIO itývl