WHILE THE money mood is on you — the big RRSP push just finished but your 1992 tax return preparation probably still-going strong — use the momentum to draw up a financial plan. You will have many of your retirement and tax figures handy. Retirement planning and tax Strategies are two of the three most important aspects for most people, with investing the third key area. You could probabiy summarize a brief plan on a page or two while a more detailed plan could Tun to several pages. If a financial planner has drawn up a plan for you — whether a two-page outline or a plan with perhaps more than 100 pages of suggestions, computer projections and general background informa- tion — check it also contains these key points, based on the six-step process the Canadian Association of Financial Planners outlines for its members. -@ Clarify the present situation. You need a net-worth statement (a breakdown and total of assets and liabilities), cash-flow projec- tion (expected future earned and investment income) and tax pro- jection. What is your risk exposure? Review life, disability, property and liability insurance coverage, as well as your estate plan, start- ing with a current will. -@ List your goals and objectives. “SHE FOLLOWING is a selection of volunteer opportunities avail- - able through North Shore Com- munity Services (NSCS). :. A NORTH Shore ‘art gallery needs people to fill a variety of volunteer positions. Training and ‘orientation will be provided. ‘AN ELDERLY woman from Syria would appreciate having someone to talk to in her native language. A volunteer is needed to S C OT T 8 D UXURY CONDOMINIUMS ARIZONA Michael AS AND SENSE What are you trying to achieve? Be specific: for example, retire in 12 years with $3,000 2 month of after-tax income. You can also have general goals: invest more successfully, reduce income tax. @ Identify financial problems and opportunities. What obstacles stand in the way of reaching your objectives? (Example: You aren’t saving enough, or your savings aren’t earning cnough.) What opportunities could help you reach the objectives? (Exam- Vv visit. the woman at an adult daycare centre for a few hours in the morning or afternoon on Wednesdays. Orientation will be . provided. : ; iF- YOU have your own car, volunteer to be a driver for con- two different routes: Lion’s Gate Hospital to Deep Cove, and Lynn Valley to Lower Lonsdale. TICKET sellers are needed to man booths in a m..i and provide gregate meal programs. There are . ple: You have just paid off your mortgage, freeing up your former monthly mortgage payments to be invested — rather than spent.) @ Write down strategies to move you toward your goals and objec- tives. Consider alternative solu- tions. These approaches should not only make sense financtally but also be appropriate to your personal situation, to your (and any partner’s) personality. @ Move from planning to im- plementation. How will the strategies be carried out? If you receive recommendations fror. a financial planner, they should be both clear and unbi- ased. You should see how the im- plementation steps lead to the plan’s objectives. @ Review and update the plan regularly. Some parts of the plan might need to be monitored monthly: the whole plan should probably be reviewed at least semi-annually. What mechanism do you have in place to make sure this wil! happen? Cathie Hurlburt, BCAFP membership upgrade chairman, noted when CAFP members wish to upgrade to regular status and write the Registered Financial Planner (RFF) exam, they have to submit a sample financial plan as part of the approval process. “We have three RFPs on our committee each of whom reviews each plan,” said Hurlburt, of In- information about the duck race lottery. Tickets will be sold for four weeks, starting on Saturday, Feb. 13. THE Canadian Cancer Society needs your help at its North Van- couver branch. The hours are flexible. Training and orientation will be provided. If you are interested in volun- teering call 985-7138. NSCS is a Member agency of the United I IN THE MISSION de los Arzoyos i v | % return ® Cash in $13.185 or no money down (100% financing) Canadian approved tax deferrals > 90% Sald ? Nota Ti For rese please call 682-4448 or 1-800-561-4448 me Shure vations or more information ‘Assumes aunntnll after tix cash flow for investor with highest marginal tax mite. Please join us for it free presentation by Roy B. Bennett and Associates Ltd. and Magellan Development Corporation, Tsai ts for nyfornattiat purposes cath aiid dos Hot coatstide car affer ta wil or et sult tattow to nary the sec teritios refered to betein fuvestars shaukd refer to the Offering : Date: Way. j A LE SUN Free Seminar: Tues. March 9 7 p.m. Park Royal Hoiel 540 Clyde Ave. West Van. Time: Place: tegrated Financial Concepts Inc. “If the committee declines a plan, it is sent back to the planner with comments and notes of the defi- ciencies. The deficiencies can then be fixed and the plan resubmitted. “Once the committee approves the plan, we send it to the na- tional head office for approval.”’ THE TORONTO Mike Grenby is a North Shore-based columnist and in- dependent finaucial adviser who works with individuals; he will answer your questions as space allows — write to him c/o The North Shore News, 1139 Lonsdale’ Ave., North Vancouver, V7M 244. SEMINARS Created By DOMINION BANK ana TD TRUST COMPANY WILLS and ESTATE PLANNING . Protecting your family and loved ones against the unexpected is too often overlooked, leading-to unnecessary burdens at a time.wherrthey may be least prepared to handle-them. if you have a family that : relies on you or if you have specific concerns about, the management of your affairs, we can offer ycu information and guidarice that will give you and your loved Ones peace of mind. DATE: MARCH STH, 1993 TIME: 7:00pm TO 3:00pm_—. . RETIREMENT INCOME PLANNING Making the most of your retirement nest egg can ensure a comfortable and worry-free retirement. Investigate the options and investments available. Learn more about RRIF’s and Annuities. Create a retirement plan that will meet your needs and answer all your questions. : DATE: MARC H 23RD, 1993 TIME: 7:009m to 9:005m LOCATION: The Lonsdale Quay Kote, 423 Carrie Cates Court, North Vanco uver 986-6111 Call any of the branches below to reserve your seats today. Seating is timited. Watch for upcoming seminars 45th & Lonsdal Westview Shopping Ctr., N.Van Edgemont Village, N.Van 18th & Marine 2040 S. Park Royal, West Van $81-5600 981-5665 981-5650 926-3274 922-0158 le, N. Van Dr., W. Van