“If we build it, they will come. Perscnal investment advice is all about relation- ships. By having a ScotiaMclLeod office con- ‘Pi veniently located on Marine Drive in West Vancouver, we make it easier for clients te. meet witl us and even just drop in. Closer to home. Almost all of our staff live on the North Shore. With less of a commute, they have more time to spend on clients’ business and with their families. ” Being part of a distinct community. . Rather than being lost in the masses, ScatiaMcLeod can play a role in the North Shore. community where we all understand tis meant by" going over town”. No Bean Around the Worl adowntonn, . asthe highest calibre group | industy”, ‘and working with xtfolios for individu- gence and accessi- - include two young children. Ne Closer to beautiful British 7 Columbia. The mountains at our “D hac! Ry the ocean on our doorstep. Whistler just down the road, great local g golfing and skiing just minutes away. fiem, including positions inanaging the Bond Department in New Yorke and Toronto, David brings tremendous expertise, as well as his love of the outdoors, wine and art. A ten-year veteran of ScotiaMcLxod, his spe- : cialty is portfolio design and management, Working with his partner and wife, Victoria Rogers, Kim focuses on long-term wealth cre- ation for clients. Their other long-term projects A nurse by training, Victoria is still helping peo- ~ ple‘as a talented Investment Executive. With her _partner and husband, Kim Mailey, she special- © izes in designing and managing portfolios for her many long-term clients. As residents of - Lions Bay, Victoria and Kim value the opportu- nity to be active community players as part of x the North Shore office. ~ Jan first’ joined ScotiaMcLeod i in 1969 and has , the distinction of taking nine years off to pursue - 7" his passion for painting. For the past 14 year, ’» Tan’ has ‘devoted himself to the art of investing. _ and looks; : the o opportunity to work with a group of highly g alter client portfolios. He relishes : experienced d advisors in the North Shore office. Boasting the shortest commute to the new office, Ian lives with his wife and two children just seven blocks away. : “ A true industry veteran, Ross has been in the capital preservation business since 1964. He was among the first people to be recognized as a Fellow of the Canadian Securities Institute in 1977. Today he's excited about the working ‘ environment of the North Shore office, which he sees as being more productive and more accessible for clients. A resident of West Vancouver, Ross has three children and hecame a grandfather this year. Sunday, October 12, 1997 - North Shore News - 15 * Reasons for 2 . North Shore Office Synergy of a cohesive, highly-experi- enced team. With an average of 17 years experience the industry, our Investment Executives offer a tremendous fange of expertise. This team shares ideas and knowledge, trades advice and pools resources to provide clients with a uniformly oustanding cel- ibre of service. in Free parking! No Island Pie & Company downtown. Savary here is a terrific saying displayed B just inside the entrance to the men’s washroom at the New . B York Stock Exchange. In a nutshell, it says, “Now Is Always The Most Difficult Time To Invest.” When you watch the volatility of today’ 's investment markets it’s hard to - disagree until you realize that the writing has been there for over 60 years. I don’t know whether this is the most difficult time, but I do know that there has never been a more important time to invest. There has been a major ehift in Canada that has paralleled trends in the rest of the world. It is a shift that has profound consequences for each of us when it comes to our . current and future stsodard of living. There'is an undeniable trend towards less © "government i1 our lives. This trend hes been accompanied by higher levels of taxation. It would he difficult not to have noticed that we are paying more moncy to government and getting fewer services. These are the inevitable consequences of the massive build up of government debts. In other words, we are finally paying the price for years of living beyond our means as a country. Far too many Canadians simply don't appreciate what is going on. According to figures released by the federal Ministry of Finance, for every dollar we pay in tax in 1998 we will receive about 68 cents in services. That is down from $1.25 in services we received for every dollar of tux in 1984. Nowhere will the change in the role of government be more acute than in the arees of post secondary education, Canada Pension and Old Age Security. While university students feel the pinch from higher tuition fees, today’s hikes will pale in comparison to what's coming. Estimates run as high as $20,000 for a single year of university tuition by 2015. But the problem is that very few families with young children are properly preparing to finance their children’s education. It may be debatable whether this is the hardest time to invest but it is without doubt the most difficult time to save. The average Canadian family pays over 48% of their income in some form of A unique community of communities. § & No where but the North Shore can you fin “The Cove”, “The Vi ‘llage”, “The “7 Properties” and “The Quay”. oa A perfect fit. Like most North “Shore residents, ScotiaMcLeod is understat- ed, not flashy, very good at what we do and com- mitted to ongoing success. Having lived in & North Vancotver and West Vancouver for many § years, our Investment Executives uderstand J and appreciate the distinct character of the North Shore. We are ‘delighted to be “home”. tax. Despite all the rhetoric to the contrary there have heen over 40 new tax increases since 1993. Beitish Columbia hoasts the highest marginal tax rates in North America at over 54%. Since 1989 our tax burden has grown twice as fast as our personal incomes. Our disposable income has dropped by 8.4% since 1991. The list goes on but perhaps the situation is best summed up by Will Rogers when he said, “There’s not a inan in | America who cannot make a living for himself and his family ~ the only problem is that he cannot make one for his family and the government.” No wonder we can't save enough money for education or our annual RRSP contributions. And the situation is not getting any better. The contribution limits for Canada Pension are scheduled to rise over 70% in the next five years to nearly 10% of ourearnings up to $35,800. ladividuals will pay up to $1,635 while their’ employer matches that amount.. For self-employed people the picture is even bleaker because they will have to pay the full $3,270. All of that so that maybe we will receive as little as $18,000 enaually in 35 years time. ‘ That picture sounds rosy compared to the propored chenges to old Age Security and Guaranteed Income Supplement. These progsams are going to be rolled into the new Seniors Benefit Program. - The real kicker here is that eligibility is going to be based on family income for the. first time. Ant those eligibility levels are going to drop _ Pa dramatically, Currently you do not get all of the ; . OAS clawed back until family iacome reached >. $167,000 but that level will drop to $78,000 - under the new plan. For individuals the current cut. . off level is $83,500, but it will drap to $52,000... under the Seniors Benefit Prograni. But perhaps.” the most amazing uspect of the drop in eligible ~~ incoune levels is the fact that families with an: income of only $26,000 will start getting. their” benefits clawed back, These changes will save ° Ottawa billions of dollars but should send an obvious message to all of us. In the future we can expect to pay more and receive lees from government. Thst's why it is more, important than ever to protect yourself by focusing on your, peronal f tinences. I's no longer an option, It is a necessity if you are going to secure your fiuancial fature. The good news is that there are no 0 shortage of first class individuals available to help you achieve your financial goals. My advice is to seek out someone who works for one of the major Canadian firms so that you can ‘get full access to all the products that are in the marketplace. A major firm also has an extensive research department that you can take full advantage of. And finally it is incumbent upon yer to show the persistence and commitment to achieving | your goals that is required i inany , endeavor. Make it a hobby. Make it fun. Your future may depend on it. And if you don't helieve me, you might want to take the advice of the great old American singer Sophie Tucker who, when asked about her personal finances, replied. “If 1 had known I was going to live this long, I would have taken better care of my money.” 1555 Marine Drive 3rd floor, West Vancouver (604) 913- Ae. HE _ ¢ 7060