JON Kanitz pays $42,000 a year to rent his home. But he believes this is the way to get rich — at least for him. “Tcould have bought a house long avo.” said Kanitz, director of Wood Gundy pri- vate dient investments, who writes a regular column in the Canadian MonevSaver. “The truth is, by the time L finished university | had lost so much in the stock market Twas broke and wanted to get revenge. “This meant buying 2 house was out of the ques: tion and that every dollar I could save had to go into the stock marker. That's the ori- gin of my trent and grow rich’ mantra which | have tol- lowed for nearly two decades and [still believe it is wood reasoning. ~ Storefront tales take a break COMMERCIAL Avenues, a bi-monthly feature of the North Shore News busi- ness section, will return in the Wedne: day. Jan. 20 issue. Nevertheless, suggestions for that and other editions are always welcome. If vou have a business thar is part of a unique or otherwise worthwhile block or know of any, share it with us. Write to Commercial Avenues ¢/o Robert Galster at the North Shore News, 1139 Lonsdale Ave... North Vancouver, V7M _ 3H4 or e- mail: roberr@nsnews.com ari gh are news "BUSINESS Revenge through renting mtoney matters Kanita admit, "Pim not like most people.” He works in the stock market and can comfortably atford his $3,500 monthly rent, He owns 70 stocks and said his investments have averaged an annual return at 20% since 1YS2 — quite a feat for even a skilled investor, He accepts the benetits, both personal (security, inde- pendence, pride, stabiliry} and financial (potential ta invest sweat equity to cara qav-tree capital gain} of own: ing ahome. But he also BRIEFS THREE North Vancouver CA students are on their way to becoming chartered accountants. Craig Lowe, Tracy MacKinnon, and Kevin Wong all passed the Uniform Final Exam (UFE3). a national exam for CA students. “Craig, Tracy and Kevin should be very proud of them- points out the costs: mort Bate interest, Maintenance and repairs, insurance, taxes and what you could have made by renting and invest- ing. By comparbon, renting is relatively cheap. You don’t have to earn big money or spend thou sands on rent. Bat it you hope te rent and grow rich, you must: Have the discipline to invest witat vou save by rent ing instead at buving. G@ Have or develop invest ment skills. You might not work full-time at it the way Ranita does bur probably should spend [5 to 20 heurs week managing vour money whether its in the stock mar ker, revenue property or a business. B Place mare value on mak- ing money than on che per- sonal benetity of owning a home. Should vou redirect some selves.” said Dro Don Carter, FCA, principal of the School of Chartered Accountancy with the Institute of Chartered Accountants of BC. “Passing the UFE is a signiicant mile stone in the career of a char: tered accounmint.” In addition to passing the exam, CA students must com- olete 30 months of experience with a CA firm. On comple: tien of all reanirements, they will officially be designated a chartered accountant, or “CA” The B.C. Sehool oof Chartered Accountancy had the highest pass rate of anv CA education system in Canada in this vear’s CFE exam. The 80% pass rate was the highest in the history of the school. The 7,600 CAs in B.C. provide expert advice to a vari- ety of small and large business; are key members of manage- ment teams; or consult to pri- of the money vou have or plan to have ded up in veur heme into more active invest ing? if net. at tease ase part ot tite home to carn income fron: a tenant or a sideline business -— or, if vou teel comforrable with the risks, borrow against the equity to invest. A final comment from Kanit: “Trent te ger very rich. Eventually, | vill proba- hiv bav a house — a million dollar house — for cash.” —- Copyright 1998 Mike Grenby Mike Grenby is a coltunanist and independent persanat Huanctal adviser; he Ul anover guestions in ths colunar as space allows but cannot reply personally — contact him at P.O. Box 50029, South Slape KPO. Burnaby, BC. Val S563; email aukedarenty.cont and see previous colnuiuis at Alike s webstte, mnrarenby.cont vate industry and die public As members of the Institure oof Chartered Accountants oof British Cohimbia, they adhere toa strictly catoreed code of con- duct and ongoing proressienal dovelopment, eee The Maid. a North Shore cleaning company, cleans bet- ter than most. The company was rated the No. Presidential cleaning company in Canada by Sue magazine in its Franchise Gold 100 edition. “Irs great thar we were rated so highly in a nationally recognized and prestigious magazine,” said Bruce Melissen, who, along with Ronald Partaik, owns the company. The magazine's criteria for its ratings included financial health, corporate nvanage- ment, growth and stabiliry. sector, — Robert Galster m Suite 480 - 171 West Esplanade. North Yancouver, 8.C. Roger Latta & Company Limited. Financial Consultants, Investments & Insurance Phone: 983-2235 Fax: 984-6335 Suite 480 - 171 West Esplanade, North Vancouver, 8.C V7M 3J9 Vw @reetings Wishing alt our clients : and friends the merriest holiday season and af happy and prosperous New Mare Latta Roger Latta ara eg eet attend Barre Roger Latta & Company Ltd. Financial Consultants. Investments & Insurance 1 Phone: 983-2235 Fax 984-6335 | v7M 309 Shannon Humphreys: every Friday on page seven in your North Shore News. Qwaity sal ' Firs fai selecioh“ ‘NORTH VANCOUVE 986 4519 land Sewing,Club Menthers Valud: Hotline Fce LOC MANS HNO 1