Fitting money in your

WHIEN MOST people start
their career, they have too
much month left ever st the
end of their money.

As we progress, if we do things
Tight, we can reach the point where
we actually enjoy the reverse —

“ more money than month.
_ . -With money, we have two basic
, choices — spend it or save it.

Option one is easy. Te requires no
Practice or special training and litle
thought. ;

Ognize many questions are triggered -
. by. subscribing to option two. There
no ‘fight or wrong answers to the
i to

<Following 2 are the questions, the’
may follow and the

when I remember or when | have
S ?
& What about risks? How do I define
tisks? How much can I tolerate and
does this change as time passes? Can
investments have variable risks?

@ What about opportunities?) How
do I keep up with the latest wends?
Am I prepared to make the deci-
sions?

® What is the desired end result?
Wealth, comfort, power, travel, early
retirement, business opportunity, oz
charitable work.

& What are the tax implications?

@ What about liquidity?

Wi And creditors? —

i Should I do all ofthis in my name,
in our joint names, in trust? For
when? With strings attached?

@ Long-term, all of my assets will go

‘where? This is okay, desirable,

essential or no big deal?
@ My children should be wealthy,
have to work for everything they get,

~ know all of my plans, or know noth-

ing of my affairs?

&i If it were possible to reduce taxes
by rearranging my financial affairs, I
would jump at the opportunity, con-
sider it but only if it was consistent

with my personal plans, not wantto §
-do it if ] have to spend money now,
do it at ‘the last possible moment,

look at it later or not worry about it.
_If- you decide to look at consul-
tants who offer expert advice to help

-you make: financial decisions. there

are many questions you need to ask
prospective consultants.

- B How,aze you paid?, Flat te or
_ hourly, : we
Roger Lana and Company Lad recs

EAN CONSULTANT.

. Latta” —> understand

Waiter Wysota, CFA
Vice President :

Wood Gundy Private Client Investments sa ‘
Securities Inc; tember ofthe Canadian Inveto Proetion Fund ana subdir of CIBC.

& How much will it cost me?

i Do you have a profile and outline
of the services you offer?

& How do I know I will like what
you do. (It is normal for a consultant
to mee? with clients for approximate-
ly 1.5 hours and then provide an
overview letter before commitment
by a potential client.)

§@ Do you work for a financial com-
pany? If so, which one?

@ Are you obligated to your compa-

ny’s products? (This could be good
or not.)

® Do you have a specimen of a
designer program? This will include
information on age, risk factors, spe-
cial requirements, recommendations,
etc.

68 How long have you been in busi- .

ness? Who looks after my affairs
when you are on vacation, or if you
retire or die?

#8 What services do you not provide?

nont

Some consultants do not handle tax
tetums, trust retums, offshore tax -
shelters, various financial products,
or psychological profiling for retire-
ment, leisure activities, or hobbies.
Roger end Marc Latta are North.
Shore financial consultants. Roger
talks about money management to
kick off the North Shore News"
Financial Forwm at 10:30 a.m. on
Saturday, Feb. 10, Marc tackles
investment risk at 11:30 a.m.

up close and personal —

How do I protect my
How do I

probate a will?

Who can fight

my will?

(no clock ticking) .

| “Our velit needs os come oe :
, Lakes Seraith 8 inky |

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