32 - North Shore News - Sunday investors taking greater control of RSP portfoli : PS = . NEWS photo Mike Wokefietd TAKE control of your investments and you could have currencies from around the whole world in your hands. B .45% ! 18-month fi Ic; Reinvestable after 60 days without penalty*. ‘rerwestad in an eqxal orange tes GX * Interest rate sunject to change wathout a af a lalate sit LAURENTIAN BANK OF CANADA bs oy le & lean available at prime‘! * Subject fo credit approval. ge Py Stephen Kangas Contributing Writer THE tremendous growth of self-directed RSPs during the past five years shows that Canadians are increas- ingly taking more con- trol of their financial! well being. The growth is a direct result of Canadians’ increased confidence about investing and personal investment strategies. Lower commissions, greater control over their Moneys, more investment choice, 24-hour convenience and access to quality infor- mation and assistance through self-serve broker- ages have also made it easier and mere comfortable for investors to take charge of ‘their RSP portfolios. Is a self-directed RSP right for you? Many people have heard about self-directed RSPs but aren’t sure if it is right for them. The following questions may help vou to determine if this increasingly popular choice will work for you. @ Do you have a retirement plan and know what your goal is? @ Do you have the time to manage your own investment Revenue NEED help completing your income tax return? The first source of infor- mation for completing your income tax and benefit return should be your 1999 income tax guide. It’s written in plain language, so you don’t have to be a tax expert to under- stand it. The Canada Customs and Revenue Jackic Simmons - Graduate Personal Financial Planner Royal Bank congratulates Jackie Simmons for achieving the accredited position of Personal Financial Planner. PFP is the premicr designation of the Institute of Canadian Bankers. As an Investment and Retirement Planner in the North Vancouver area - - and now a certified Personal Financial Planner -- Jackie provides her clients with professional, one-on- one advice for their financial planning and investment management needs. Jackie's extensive taining benefits her clients by helping them make key decisions ahout estate planning, tax planning, maximizing their investments, and planning effectively for their financial securiry, Jackie can be reached through any of the North Vancouver area Royal Bank branches or you can call her directly at (G04) 377-8492 ROYAL BANK portfolio? B Do you want a mix of investment products includ- ing mutual funds, stocks and bonds to help you achieve your investment goals? ® With the right information and tools, are you comfort able making vour own invest- ment decisions? B Do you want to consoli- date vour RSP investments in one account, making it easier to manage your portfolio and maximize your RSP foreign content? If vou answered yes to two or more questions, you may want to inquire about a self-directed RSP. However, it is not right for everyone. If you aren't interested or don’t have the time to active- ly manage your investments, working with a financial advi- sor at your financial institu- tion may be the best option for you. For others, a self-directed RSP on its own or in combi- nation with a traditional RSP through a broker, planner or financial institution may be the solution. What to look for in a self- directed RSP? If you are considering opening a self-directed RSP, investigate the options avail- able to you. Research is the key to suc- cessful investing. Most self- serve brokerages provide customers with basic infor- Agency (CCRA) — the par- ent of Revenue Canada — can provide the guide and other useful publications on topics such as the Canada Child Tax Benefit (CCTB), installment payments, or stu- dents and income tax. On the Internet: Electronic copies of forms and publica- tions, including the income tax package for your province, are available on the CCRA Web site at . Forms: Copies of forms and publications may also be ordered by calling 1-800- 959-2221 (English) or 1- 800-959-3376 (French). The local telephone number is list- ed in the government section of your telephone book. In. person: Tax service offices across Canada are open Monday to Friday (except holidays) from 8:15 a.m. to 4:30 p.m., and to 5 p.m. from Feb, 21 to April 30. Some offices are open until 5 p.m. year round. Addresses are list- ed in the government section of your telephone book and on the “Contact Us” Web page of our Internet site. T.LB.S.: The Tax {Information Phone Service (T.LPS.) is an informative and easy-to-use automated telephone service. It can pro- vide you with general income tax information as well as per- sonal information on the sta- tus of your refund, whether you are eligible for the CCTB and the Goods and Services/Harmonized Sales Tax (GST/HST) credit, and your RRSP deduction limit. The T.LPS. number is 1- 10S mation, such as up to the minute market information, to help them make decisions. Some, including Cr Securities, also provide greater assistance including a list of top mutual funds, comprehensive research for both stocks and funds, and direct access to trading pro- fessionals to help you narrow down your investment options. When choosing a self- directed RSP also investigate: B other available learning tools including investment calculators, performance charts and newsletters; @ how the service will be accessed such as prompt “around-the-clock” tele- phone service and easy-to- use Internet capabilities; B@ the range of RSP eligible investment options to choose from including mutual funds, stacks and options, fixed income products and money market investments; and, M@ the costs of purchasing mutual funds, trading stocks and annual administration fees. Research the key to suc- cessful investing. It is also the key to choosing the self- directed RSP that is right for you. Stephen Kangas is the director of retnil brokerage for CT Securities Inc. and co- author of a national bestseller, Financial Post’s Sinart Funds. can help 800-267-6999. By phone: Clients will have access to extended hours for general and business enquiries. From Feb. 21 to April 30, clients with general enquiries can call 1-800-959- 8281 (English) or 1-800- 959-7383 (French) berveen 8:15 am. and 10 p.m., Monday to Friday, and between 9 a.m. and 1 p.m., Saturday and Sunday. Starting Feb. 14, clients with business enquiries can call 1-800-959- 5525 (English) or 1-800- 959-7775 (French) all year, between 8:15 a.m. and 8 p.m, Monday to Friday. Until then, the phones. are open until 5 p.m. . Tax clinics: In the period leading up to the April 30 fil- ing deadline the CCRA opens temporary tax clinics in shop- ping malls, storefront offices, and in Government’ of Canada InfoCentre offices’ across the country. Clinics are usually held in communities that do not have CCRA offices. For more informa- tion, contact your tax services office at 1-800-959-8281 (English) or 1-800-959-7383 (French). Volunteers: CCRA’s" Community Volunteer Income Tax Program is avail- able for low-income individu- als with simple tax situations. Volunteers are trained so they can complcie basic income tax and benefit returns. If you need a volunteer’s help, call the local volunteer program co-ordinator of your tax ser- vices office at 1-800-959- 8281 (English) or 1-800- 959-7383 (French).