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32 - The Oakville Beaver, Wednesday January 2, 2008 www.oakvillebeaver.com Art and skateboards IT MAY MAKE SENSE TO BORROW FOR YOUR RRSP If you're like most Retirement Savings important source of in years. And, if you're like have unused contribu make the most of the po building advantages of every bit of your unuse as you can. Borrowing in order t could pay off in two ways: First, you'll increase the size of your tax refund and second, you'll have more money growing inside your tax-deferred retirement plan. Here's an example: assume that your RRSP contribution limit is $3,000 this tax year. (The actual amount of your RRSP contribution room is provided on the Notice of Assessment you received from the Canada Revenue Agency after filing your tax return last year.) Depending on your tax bracket, a $3,000 contribution could net you nearly $1,500 in tax savings in the form of a larger tax refund, while also potentially adding $30,188 to your retirement plan over 30 years (on a pre-tax basis, assuming an annual compound rate of return of 8 per cent). There are several important considerations when planning to borrow for RRSP investment contribution purposes, such as: · Borrow at a low interest rate and pay off the loan quickly, otherwise the cost of borrowing can diminish your potential tax savings and investment returns. · Financial institutions often offer RRSP loans (which are really loans meant only for the purpose of contributing to your RRSPs) at prime rate or lower. · For top-up loans, limit the payback schedule to one or two years. For larger loans, don't exceed five years. Make sure you are comfortable with your loan obligations. - News Canada The opinions expressed in this column are those of the author p p f and do not necessarily represent the views of this newspaper. Centre Winter Mississauga-Oakville Bridge League And The American Contract Bridge FOR BEGINNERS...8 weeks, $144.00 Bridge Monday evenings 7:45, beginning January 14 beginning January Lessons Wednesday afternoons 1:30,weeks, $144.00 16 FOR "RUSTY" PLAYERS...8 th th DEREK WOOLLAM / OAKVILLE BEAVER Monday mornings 9:45, beginning January 14th Wednesday evenings 7:45, beginning January 16th BRIDGE GAMES FOR NEWER PLAYERS... Thursday mornings, 9:15 - ongoing weekly THE BRIDGE CENTRE OFFERS GAMES & LESSONS FOR PLAYERS OF ALL SKILL LEVELS (See our website) Please call (905) 820-5728 www.raynerbridge.com CARRIERS WANTED The Oakville Beaver The Oakville Beaver is looking for newspaper carriers in your neighbour hood! Support your local carrier FRIENDLY OPENING: Friendly Skateboards and Champion Print Studio opened the doors to its Wyecroft Road location earlier this month with a grand opening celebration. Left, Adam Szeminiski, co-owner of the shop, poses for a photo prior to the celebration while getting some lighting help from Gordon Ball, right. The opening event featured photography by Ball and other work by local artists, including Szeminski. Video projections were also featured at the opening. Friendly Skateboards and Champion Print Studio is located at 220 Wyecroft Rd., Unit 42. Mozartmania in town Feb. 9 The Oakville Chamber Ensemble is hosting Mozartmania on Saturday, Feb. 9. The concert will be held at 7:30 p.m. at St. Simon's Anglican Church, 1450 Litchfield Rd. The ensemble will present a program of famous string music by Mozart, featuring three divertimenti for strings and the well-known Eine kleine Nachtmusik. The Oakville Chamber Ensemble offers these works in a setting true to Mozart's intentions ­ a small group of musicians playing together. Tickets cost $25 each, $5 for children 15 and under and $15 for seniors and students. Mini subscriptions for three concerts cost $65, $12 for children or $40 for seniors and students. Tickets are available at the door on concert night or at 905-522-6841 or info@oakville-choir.ca. CORRECTION NOTICE Frigidaire 4.1 Cu. Ft. Easy-Clean Ceran Range 10094786. On page 4 of the Dec 28th - Jan 3rd Boxing Flyer, it states the this range is self-clean when infact this range is a Easy Clean range. We sincerely apologize for any inconvenience this may have caused our valued customers. Live your dream. Have you considered a free portfolio review? Call today! You deserve a second opinion. Philip Mathew, B.A. Sc., MBA 905-634-6021 www.philipmathew.ca Investment Planning Counsel TM I P C I N V E S T M E N T C O R P O R AT I O N 627 Guelph Line, Burlington, Ontario L7R 3 M 7 Peace of Mind ... ... the most Valuable Service we Provide Anton Tucker CFP, FMA, FCSI 905.901.3429 anton@tridelta.ca www.tridelta.ca OAKVILLE NORTH YORK MISSISSAUGA THORNHILL Tim Trian, CFA - Portfolio Manager Laura Trian, CA, CFP CIM - Associate Portfolio Manager , Vi i h // i d d lh Join our carrier club Earn extra money and win prizes Many routes still available Call immediately for more information 200-2908 South Sheridan Way, Oakville Tel: 905-829-0600 905-845-9742