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By GEORGE LEE
___Review Staff Writer_ -
Feb. 29: it’s the consum

__ 1987 income away from the tax-

ger ut your iN ae
FF work where okey de the most ° og —<
_ good—righthereathome. @f

‘see us today iment Savings E @?.

| oURRRS. P. BENEFITS _
~ @ Local Trustecs

-@ Instant Tax Receipts —

_y No Fee Transier _

- @ Your Money is put o
to Work Locally *

7 last chance to keep some of his

ed, without limit, by the
ce Corporation of British Columbia:

man, with the help of some at-
tractive federal legislation. .
Most Sidney financial institu- —

tions report brisk RRSP sales,
but the real rush won’t come

_ until just before month’s end.

In addition to chartered ©
banks, investors can buy RRSPs

through mutual fund dealers,

such as Velma Ryder of Regal

Capital Planners; through in-

vestment houses, such as
Midland Doherty; life insurance
companies; _ trust. companies; .

- and credit unions.
Wherever the right RRSP is
found, the time to buy i is now.

for 1987 savings. |

“‘Most people wait until. the
last minute,’’ repo
Schauch, manager of 1

On the final few days, ‘the

_ crunch comes,”’ adds Bank of
_ Montreal branch’ manager —
“Robert Potter.
_..With or without procrasta-°
| tion, registered. retirement. sav-

. ines plans are gaining populari-
ty. ‘‘We’ve had an excellent
‘esponse, pe nenauch says. ‘It

People every
ing them.”? ~

he. eslossy brochures ;

rts Pivadan

~ Toronto Dominion branch:

would make i it poems financial

parkage ider_ att

Pat Hannah, manager of per-

sonal banking at the Sidney
‘branch of the Royal Bank, says
someone tried tallying the
available RRSP vehicles — and
‘lost count at 200 or 300.”

The Royal, for example, just

introduced a new RRSP
called the balanced fund. It’s a
combination of the banks three
other fund-style RRSPs.
Ron Gurney of Gurney,
Smith and Associates, says the
type of RRSP is virtually open-
ended. His company boasts an

“unbiased opinion’? in RRSP .
selection because it tailors them
from a variety of. sources, _

Says.
“You na

me >it, we can do i it,’

~ Gurney ‘said clients need to.

‘look at

the entire: picture when
after-tax savings, today and
when the RRSPs are cashed.
Most _ ins
RRSPs say their service makes
them | ett teed interest a

indeed, offer-

ns offering 7

petitive.”

- factor for a Person seeking. an ‘Th it’s.

erent baske. polnt eno a an

-RRSP is that it defers income —
taxes while building a nest egg ©

for the future. The money plac-

ed in the RRSP now is not tax-

able as 1987 income.

The money keeps building,
intil it’s removed,.at cor
or before retirement. And even

tax free,

when it’s removed, ‘there are

some creative ways to ease the
pain of the income tax bite. _
_ Retirement investment funds
are tailored to each con mer’

erse of a consumer loan:

"RIFS also io comin to work as :

response to this year's RRSP of- annuities for gradual payments -
fering, says, “It’s pretty com- of the RRSP st pe.

r of Bank of Montreal money is cashed ‘in, t

mon

crease i ‘awareness of money

r, blended t portion of want, t
1e en _ rinepal and interest — sor of
buying RRSPs — particularly ©

ner paying

mer will normally be ‘ahead.

y is cashed in at retire-

OR.

~ Overall income from —

other sources will likely be — |

smaller than it was earlier in. §
life, so the tax. bite will be |
smaller.

Probably fewer people are
confused about this sort of in-
formation than n they were a few

.

matters.

"Advice is essentia ‘for. most |
people buying an RRSP, those £

Uierng them ay .
_ However, those who don’t |
need t the e advice of others may §

or olde ble Thee aloe we decisions
for an RRSP, “his nest egg isn’t themselves
1 as he reaps the -

nge. _ pay more at ‘the start. and Tess eligible to - co:

- Commerce’s Chris Cramp-— later on, or vice versa.
ton, who also reports a good — i

- ‘Insurance | compat

os. 4

ies offer _ whicheve

People 4 don’t want to rely on.
Pension, or “‘they just

pure hase var retain it for future

mipaund returns based uy

8 comple

reference v

7 “They're forthe ones who no
_ mor than \
- “and Dean meet each con Lids

,$00 or 20 pet cent of income, -