ESA RE ES PIERS OT SELL AL IPRS RTE IT TE NM NES EET Poe MEgES ate QEPL NT A Te Dy OST Ee From page 18 There is no limit to the amount of money which may be taken from an RRIF. The original mini- mum formula remains in force. you must take out, each year, a fraction of the fund depending on the number of years remaining to age 90. For example, at age 65, with 25 years remaining to age 90, you must take out 1/25th or four per cent. This figure increases yearly and at age 70 you must take out 1/20th or five per cent and so on until age 90, by which time all of the funds must have been taken out. retirement planning b ry Bert Wickham ‘This formula is known ‘as the .statutory minimum and forms the basis for certain tax exemptions such as qualified pension income deduction and non-attributable withdrawals from spousal RRSP/RRIFs. There is no statuto- ‘ry limit to the amount you can ‘take provided you report it as tax- able income. At any time before age 90, you may transfer the excess over the statutory minimum into an annui- ff ty. This. is a very useful option if you feel unable or unwilling to ‘continue manasing a self-directed fund. You are permitted to switch © from one trustee to another if you’ are not satisfied with the way your RRIF is being handled. © ’ Remember that you may have any number of annuities and/or RRIFs. and the new RRIF rules -provide great flexibility when planning your retirement income. Annuities may now be commuted if the issuing company agrees. There are some negative aspects to be considered. It is now possible to use up ail your capital long be- fore the end of your life, thereby leaving yourself completely depen- dent on relatives or welfare. Older people and widows can be vulner- able to appeals from younger rela- tives and predatory promoters if their retirement funds are freely available. On the positive side, many more people will now take full advan- tage of the RRSP tax concession knowing they will have almost complete’ freedom to manage their own retirement funds whenever they wish. These articles are intended to help you make the most of your income in retirement and keep your taxes to the legal minimum. However, as they are of a general nature, readers are advised to check carefully, before applying them to their personal situation. ~ - FUNDAMENTAL REVALUATION OF BANK SHARES IS UNDERWAY: — EXCELLENT..DIVIDENP INGO) — EXCELLENT POTENTIAL FOR SPECIFIC INFORMATION AND INVESTMENT OPPORTUNITIES ca 661-2415 DAVE EVANS — RICHARD FEE — MAX WIECZOREK DS Dominion Securities Suite 2100 Park Place 666 Burrard St. Vancouver B.C. V6C 3B1 2000% RRSP Your RRSP is a long-term investment. So it demands long-term performance. And Canada’s best record of long-term performance is what you'll get from an Industrial Growth Fund RRSP Certainly, we don't know of any RRSP-eligible investment that can match this record: over 19 years, Industrial Growth has achieved total growth of almost 2000%. That means that $10,000 invested in 1967 is worth $209,364 today. That equates to a 17.4% average annual compouiid rate of return for nearly two decades —a direct result of the conserva- tive but growth-oriented money management strategy of Mackenzie Financial Corporation. If the best RRSP is what you're looking for, why settle for anything less? For a full package of information, including specific com- parisons with other investments, return the coupon or call. Industrial Growth Fund Looking both ways. To manage your RRSP - O Please send me more information on an Industrial Growth Fund RRSP and its 2000% growth record. / NAME ADDRESS city PHONE (Home) (Business) “All figures to Dec. 1, 19%¢ with dividends reinvested. 9-year total growth: 1993%. One-year return: 8.05%. Any offer made only by prospectus. OR CALL JOHN DINGMAN 669-6262 Walwyn-Stodgell Cochran Murray Limited Investment Securities 21st Floor, Royal Centre, RO, Box 11171, ROD CLARK 1055 Wes! st Georgia Street, Vancouver, aC. V6E 3P1 (604) 669- 6262 19 - Sunday, February 1, 1987 - North Shore News ‘The ‘Tempieton ———nnmn= Strategy Templeton Growth Fund nas achieved exlraordinary results. A $10,000 invest. ment in Templeton Growth Fund at its inception in 1954 had grown in value to $1133,684 by April 30, 1986. John Templeton and his team of invest- ment analysts and portfolio managers have taken a global perspective in identi- lying tulute growth sectors and stocks which are priced at what 1s judged lo be less than ther worth. Their ability to se- fect these securties has been well docu- mented for over thirty years. Templeton Canadian Fund, eligible for your RASP follows the same Strategy. lt is comprised of secunties which have Templeton Growth been acquired tor long term growth. In Our judgement, the investor who is dete. - mined to achieve short term gains by trying to predict stock and bond market swings will not have the patience to wait for the long term growth realized by Tem- pleton Fund Investors. We believe that our emphasis on secu- tity and long term growth is cansistent with retirement savings objectives. To learn mote about Templeton Growth Fund and Templeton Canadian Fund. complete and mail this coupon or tele: phone (416) 364-4672. Templeton. .. the name says it all. Templeton Canadian § Vancouver, BC, V6Z 2K5 Fund, Ltd. Fund For further information, contact: MARK SHAK! 669-1143 Great Pacific Management Co. Ltd. 300 - 1190 Hornby St. Sold by prospectus ony. These concise, practical, financial seminars can help managers, employees and investors develop their skills & find the answers needed to succeed in today’s economy: Covers pitfalls to avoid and helps you - prepare a realistic, successful business plan... Feb. 10/11. 7-10 p.m. ’ at International Plaza Hotel $85 (includes follow-up assistance) Financial Statements { tell you a lot about 2 a business and its manage- ment. Good managers and smart investors know how to read & use them to make sound decisions. Feb. 12 9 a.m. -12 noon at International Plaza Hotel, $50 Covers preparing budgets and learning how to predict your sales & ex- penses. Vital for managers and anyone planning a new business or seeking financing. Feb. 12 1:30 - 4:30 p.m. at International Plaza Hotel, $50 Shows j you how to use forecasts to plan cash shortages and curpluses, determine your credit needs and monitor actual results against ex- pected ones so you can react to problems immediately. Feb. 18 9 a.m..- 12 noon tt Coach House Inn, $50 For the more sophisticated manager. Allows you to analyze, evaluate, compare and improve your.business. Also valuable to credit grantors. March 12°. 9 a.m: - 4:30 p.m.’ F at International Plaza Hotel, $85 (incl. lunch) Pre-register for seminars: ‘indicated by (*) and you can also attend one of the following workshops FREE: © Personal Selling ® Finding Business Opportunities © Balance Sheet Analysis © Bookkeeping & the Microcomputer (Certificate. available . for these seminars) BRING THIS-AD & SAVE 10% PRE-REGISTRATION ADVISED - CALL NOW! 666-7703 Then mail payment to: #6 - 221 W. Esplanade, North Vancouver V7M 3J3 Chq., Visa or MasterCard accepted (3 days notice of cancellation required) BACK NG INDE Fedetal ! Business”