NEWS Photo Cindy Goodman

FREE TRADE has been good to Fred Mende's North Vancouver marine business, F.M. Pattern
Works Ltd. The German-born artisan designs ard builds laminated propeller molds, a skill he
has passed on to his son a.id business partner, Dean. The 25-foot mold behind Fred Is one-
“sixth of a prop mold that will be cast in bronze in the southern United States.

ethin

MULTIPLE CAREERS, insta-
. bility.in the job- market, golden
- handshakes at earlier ages, and
_ changing economic markets

_ have forced retirees to rethink

their retirement plans. As a

i ry

€

ut: =

$85

tesult,
brought about new attitudes to

* retirement planning.

“By Teresa Black

Contributing Writer

The 1994 RRSP season was tes-
timony to the fact that investors of
all ages have been undertaking a

_ More aggressive investment philos-

ophy. ‘

Seniors in particular have begun
“to feel the impact of lower interest
- rates. ° ,

Mutual: fund ads displaying
above-average one-year rates of

S : © return have. the public talking about

the hottest fund in the market.
A hunger for more information
has 'sent investors to bookstores for
- handbooks and periodicals for the
_latest advice on mutual funds, to
‘seminars by fund managers espous-
‘ing their economic outlook, and to
:meetings with financial consultants
‘, for. specific applications of these
ideas, :
“This new information has
‘increased return expectations giv-
ing way to higher “comfort levels.”

MON. APRIL 4 to
SAT. APRIL 9

the. past year has:

ing retire

Perhaps some have been too
optimistic in their outlook.

Our country’s debt has been
downgraded from AAA to AA+
due to high foreign dependency.

“The national debt: load is
increasing, and we worry about the
devaluation of the Canadian dollar.
Whatever happened to the 10%
easy-to-understand guaranteed
investment certificate?

Investment strategies seem to be
taking on a longer-term perspec-
tive. That means looking beyond
the typical one-to-five year period
to encompass the present until the
time of death,

Disciplined and diversified
investing over the long term avoids
decision-making based on fear or
greed. It also helps to avoid panic
in down markets.

That is not to say, however, that
caution should not be exercised, as
history tells us that a market correc-
tion looms.

Old concepts with new applica-
tions are being embraced. A mort-
gage used to mean a debt over your
head — not a desirable position in
retirement,

But for seniors with either limit-
ed cash or no desire to leave an
estate, the reverse mortgage is a
viable and palatable answer — bor-
rowing from yourself to pay your-
self.

Alternatively, for those desirous

687-5500

ent

of leaving an estate, it comes as
quite a shock to realize how much
Revenue Canada will take of regis-
tered monies (RRSPs, RRIFs, and
commuted value of a registered
annuity) upon the death of the sec-
ond spouse.

Purchasing life insurance has
been shown to be an economical
way to pay the income tax since 30-
cent dollars are cheaper than 100-
cent dollars, :

With so many tax and product
changes, the role of the personal
financial adviser has beconie more
important.

They must possess a combina-
tion of experience and credentials.
They should communicate clearly
their assessment of your situation
along with their recommendations
to assist you in achieving your
objectives.

Since you are developing a rela-
tionship, you must feel comfortable
enough to ask questions. If you
didn’t understand, are they patient
and willing to explain it again?

Is this a new idea? Not really.

But a renewed attitude about
financial security shows retirees are
no longer willing to take a wait-
and-see attitude to government sup-
port.

Teresa Black Hughes is a
Chartered Financial Planner man-
aging the North Shore office of
Solguard Financial Lid.

We’re Campbell Saunders, helping people in
personal financial difficulty understand their options,

rights, and obligations.

For a free initial consultation call 681-5500.
For 24 hour recorded information call 68 |-4987.

CAMPBELL, SAUNDERS LTD.

Trustee in Bankruptcy
Good pecple to know when timas are tough.

650 West Georgia Strect, Suite 1200, Vancouver

“Are you concerned with Canada's debt
crisis? Let us show you how to invest
100% of your portfolio outside of Canada
- including all your RSP holdings.”

At Fortune Financial we are committed
to effective use of your investments
y and minimizing your taxes,

“Tax shelters
*Limited Partnerships

681-1306.

#240-1075 W Geargla St.

H Financial Planning
NIMPEAKING  *utual TUR
VICE PRESIDENT

. FOR rN ANC” TUNE
ina tas iy

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