Wednesday, May 1, 1991 - North Shore News ~ 17 Examine risk picture for potential problems IT’S TIME for a spring safety check — of your savings and invescments. The problems of Standard Trust should prompt you to review just how safe your money is. Check that you can live with any money at risk. Perhaps redistribute some funds to lower risk levels. Start by taking out your passbooks and statements for de- posits you have at various finan- cial institutions. On a sheet of paper, list the amounts at each place. Banks, trust companies and some savings and loan companies are members of Canada Deposit Insurance Corp. (CDIC). CDIC has a toll-free number (1-800- 461-2342), but following the Standard Trust failure, the lines are almost constantly busy. How- ever, you can pick up a CDIC in- formation leaflet at any member institution. Highlights: The insurar.-- limit is 560,000 per person < institution (not branch) for -e.: dass of insurable deposit (Canadian currency only). For example, you could have $60,000 coverage for your total savings and chequing accounts and term deposits (maximum maturity: five years). Your spouse could have another $60,000 coverage. Jointly held de- posits qualify for yet another $60,000. Your RRSPs invested in in- surable instruments (term deposits Michael Grenby DOLLARS AND SENSE but not mutual funds, for exam- ple) have $60,000 coverage. So do your spouse’s. Your RRIFs are covered up to $60,600. And so are your spouse’s. Wf you have an incorporated family business, its deposits would be covered for $60,000. That’s a total of $480,000 coverage potentially available from one institution — which could be doubled if that company had an associated CDIC member, as most of the major financial in- WV students score well on math test WEST VANCOUVER Secondary Schoo! students made an im- pressive showing recently at the University of Waterloo Mathematics contest. A total of 46 Grade 10 students and 31 Grade 11 students from the school took part in the com- petition. Overall, 19,869 students from 1,334 Grade 10 schools and 15,586 Students from 1,290 Grade 11 schools took part. West Vancouver Secondary PERSONAL BANKING ONLY RATE SUBJECT TO CHANGE School’s Grade 10 team placed fourth in B.C. and seventh in Canada, led by student Damon Mathews, who came in sixth in B.C. and 18th in Canada. The school’s Grade 11 team placed 11th in B.C. and 26th in Canada, led by student Michael! Mustard, who managed a fifth place B.C. showing and 2ist in Canada. The two teams were coached by teachers John Klassen, Bill Hall, Don Hodgson and Tom Rippon. 5S YEAR TERM DEPOSIT 983-3773 Lonsdaie Quay Next to Seabus North Vancouver 24 Hr. Quote Line 682-4636 J FE Citizens Trust | MEMBER CANADA DEPCSIT INSURANCE CORPORATION ASHMORE TRAVEL is pleased to announce that Barbara Scott has returned to the travel industry as a full time Travel Consultant specializing in holiday destinations. Barbara invites her former clients to cali or drop by her office. CAULFEILD VILLAGE #230 - 5313 Headland Dr. West Van. 926-5566 stitutions do. Important: The $60,000 limit includes interest as well as prin- cipal. So if you have a $60,000 term deposit, your interest is uninsured. Credit union deposit coverage varies from province to province. In B.C., the limit is $100,000; pick up the most recent Credit Union Deposit Insurance Corp. leaflet (revised earlier this year) from any credit union. Or phone CUDIC at the B.C. Financial In- stitutions Commission, 560-2947. The life insurance industry recently established CompCorp, which covers life insurance com- pany deposits up to $60,000, an- nuity payments up to $2,000 a month and life insurance policies up to $200,000. For more details or a brochure, phone 1-800-268- 8099. The Canadian Investor Protec- tion Fund covers your cash balances at a member brokerage house up to $60,000 and your total account up to $250,000. Check what coverage non-CIPF members might have through the provincial securities commission. Mutual funds should be set up separately so unless fraud is in- volved, that money is as safe or risky as the investments in the fund. That brings us to a review of the non-insured instruments. Canada Savings Bonds, Treasury bills and Government of Canada bonds are as safe as the federal government's guarantee. If O1- {awa reneges on its obligations, the economy and most other in- vestments will be in trouble, too. The risk level of other securities varies widely. Bonds or preferred shares issued by major companies have far lower risk than shares in Consolidated Moose Pasture. Does the cisk fevel of the various securities you own suit your personal and financial situa- tion at this stage of your life? Real estate forms a major part of many investment portfolios. Land in a resort area is riskier than revenue property in an estab- lished urban area. The higher your mortgage (in relation to total value), the higher your risk. With both the stock market and real estate, the longer you can hang on to your investment the less the risk. The long-term ap- proach enables you to ride out price drops and wait until the market recovers. What about tax shelters? Risk level tends to be high: the tax breaks are usually provided to help offset the risk. But there’s no point saving seme tax if you lose all the investment. Investing money in a business, whether your own or somebody else’s, tends to be at the higher end of the risk scale, Gold, other precious metals, commodities, col- lectibles — all require specialized investment knowledge to help reduce the otherwise fairly high risk. Now, what does your risk pic- ture look like? Your savings and investment ‘‘pyramid'' should have a solid base of insured, guaranteed instruments (plus your own home and adequate in- surance) with the riskier instru- ments on top. The less time or other income you have to help you recover from investment losses, the broader the base should ie. Mike Grenby is a Vancouver- based columnist and independent personal financial adviser; he will answer your questions as space allows in his column — write to him c/o North Shore News, 1139 Lonsdale Ave., North Vancouver V7M 2H4. PUBLIC INFORMATION MEETING In compliance with the District of North Vancouver Council policy, POLYGON DEVELOPMENT XI LIMITED has been requested to hold a Public Information Meeting to present the application to construct 47 townhouses on a site zoned for multiple-tamily on Indian River Drive The legal description of the property is Lot 14, District Lot 625, Plan 20889 and is 6.47 acres in area. Meeting Date: Wednesday, May 8, 1991 Meeting Place. Library Dorothy Lynas Elemeniary School 4000 Inlet Crescent North Vancouver, BC. Time: 730 pm. - 9.00 pm. (drop-in) Architectural Fresentation: 7.45 pm. The purpose of this meeting is to acquaint the residents with the details of the proposal and to answer any questions. District Council will receive a statt report on the issues rais- ed at the meeting and will consider the proposal at a later date. For further iniormation, please contact Polygon Develop- ment XI Limitec at 877-131. NOTICE TO MOTORISTS . SQUAMISH HIGHWAY BRUNSWICK POINT ROCK SCALING PROJECT (21 km. north of Horseshoe Bay) As part of its five-year slope stabilization program, the Ministry of Transportation and Highways announces that motorists should expect 20 minute delays at Brunswick Point 9:30 A.M. - 4:00 P.M. (Mon. to Thurs.) as follows: 9:30 A.M. - 12:30 P.M. (Fri.) There will be no delays on Friday afternoons or on weekends. These 20 minute delays are required to allow the Ministry's Brunswick Point project contractor, Cougar Rock Contracting (1988) Ltd.. and rock bolting work. to undertake blasting, rock scaling For further information, please call the 24-hour Road Report at 660-9775 (Greater Van- couver), 938-4997 (Whistler), 860-4997 (Kelowna). In all other areas, call 1-800-663-4997. pas Province of British Columbia ee ewe er ere seem eveer wrens Ministry of Transportation and Highways ror Lyall Hanson, Minister