22 - Sunday, Nov. 8, 1992 ~ North Shore News

NEWS photo Paul McGrath

VOLUNTEERS JACKIE Winhaupl (left} and Mavis Robson arrange some of the lovely items
available for sate at St. Christopher's Church Christmas Bazaar, 1068 Inglewood Ave., West

Van, next Saturday, Nov. 14.

GICs: Basic building blocks
of your investment portfolio

WHEN BUILDING a safe and
secure home, you start with a
solid foundation. Similarly, when
building a savings and investment
portfolio for a safe and secure
future, you want to start with a
solid base.

By Garry Bader —
Contributing Writer

The first step in planning for
your financial security is to
establish an ‘‘emergency fund.”
This is usually a base of highly
liquid savings you can draw upon
in an emergency, such as job loss
or major home repairs. This fund
should be the equivalent. of three
months’ wages, . either in cash or
borrowing power.

Once you’ve taken care of
emergency funds, you can begin

_ investing surplus funds in less liq-

WARD PIANOS
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uid, higher yielding instruments,
such as guaranteed investment
certificates (GICs). Because GiCs
offer low risk and a predictable
earnings stream, they’re consid-
ered an excellent instrument with
which to build your ionger term
investment base.

GiCs offered by banks and
trust companies are normally eli-
gible for coverage under federal or
provincial deposit insurance. But
the best source of security is in the
financial strength of the financial
institution offering the product.

Uncertainty over the future di-
rection of interest rates — reflec-
ting low rates in the pasi year
along wiih recent volatility — has
made GICs seem less attractive.
However, financial institutions are
responding by introducing new
features and options for their
GICs, providing. investors with
some unique opportunities.

For instance, last spring Royal

436 W. Hastings St., Vancouver
1615 Lonsdale Ave., North Vancouver
305-6339 200th St., Langley

Bank offered the Gption Advan-
tage GIC, a one-year guaranteed
investment certificate with the op-
tion to renew for a second year at
the same interest rate.

The fall season traditionally
features intense competition for
deposits among financial institu-
tions, and consumers can expect
GICs to have some new features
this year. For example, on Oct.
#9, Royal Bank introduced a
one-year redeemable GIC that
allows clients to redeeem their in-
vestment with no interest penalty
after 30 days.

So despite volatile interest rates,
there are some interesting new
products for investors to use as
building blocks to a safe and
secure future. Of course, to take
full advantage, consumers should
shop around to ensure they pur-
chase the deposit products that
best suit their investment needs.

CHRISTMAS

CASIO

FOR PEOPLE

682-8201
-986-0911
530-8704

Bazaar offers bargains

LYNN VALLEY United Church
is inviting people to satisfy any
yearning they may have for the
“old country,’’ by visiting the
church’s Old English Bazaar on
Saturday, Nov. 14.

Items for sale will include
beeswax candles, stuffed toys,
specialty candies, shortbread,
home-baked goods and hand-
crafted creations.

Proceeds from the event, which
runs from 10 a.m. to 2 p.m., will

help support church outreach pro-
jects including Emily Murphy
House, the North Shore Christmas
Bureau, and North Sliore
Counselling Services.

Organizers say the bazaar is
sure to delight everyone and
visitors don’t have to be British to
enjoy snapping up great bargains.

The church is located at 3201
Mountain Hwy. in North Van-
couver. For more information call
987-2114,

enh a WINDSOR MEATS

[ai 985- 93tt

(Caulfeild Ltd.)

The Name you have trusted
on the North Shore
for over 25 years

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PRACTICE IN GENERAL DENTISTRY

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922-7040

New patients welcome, evening appointments available,

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