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42 THE OAKVILLE BEAVER Friday March 26,1999 Business An Oakville Beaver Feature To reach this section call 845-3824 Fax:337-5567 Photo by Peter C. McCusker SW EET CHARITY: Bernard Callebaut Chocolaterie is donating the proceeds of a draw for a chocolate bunny to Rose Cherry's Home in Milton. The home will provide pediatric hospice care and respite services to families within Ontario communi­ ties that have children with a life-threatening or ter­ minal illness requiring complex and technology- dependent care. Tickets are available for $5 to cus­ tomers who purchase $50 in merchandise. The shop is located at 194 Lakeshore Road East Total cost of Rose Cherry's Home is estimated to be $3.5-million. r Starting a Small Business? ^ Attend the Entrepreneur Workshops Hosted by the Halton Business Development Centre April 7 What's an entrepreneur & Small Business Panel? $25.00 April 14 Plan your way to profits $35.00 April 21 Market your way to sales $35.00 April 28 Tax tips $35.00 Time: 6:30 p.m. to 10:00 p.m. Location: Halton Regional Centre 1151 Bronte Road, Oakville Registration fee: $125 for all 4 Sessions To register: Call 905-825-6300 Acton 519-853-0501 Georgetown 905-878-8113 Aldershot 905-639-4540 www.haltonbusiness.com Streetsville 905-823-6720 In the last column, we spoke of the concern that investors are starting to have over the Y2K problem. What happens if computers mal­ function and investment records are destroyed? Regardless of what actu­ ally happens, this risk is serious enough that each investor should understand the issues and takes rea­ sonable measures to protect them­ selves. Some of what needs to be done within the investment business is being done. In addition to that, each investor should have a personal strategy in place to ensure the integrity of their records. For starters, let's consider the financial services industry. It is extremely well capitalized and staffed by some of the best-educated individuals the country has to offer. This is a fairly healthy combina­ tion -- bright people with signifi­ cant financial resources at their dis­ posal. If there is a Y2K problem, my predication is that other industries will have more serious problems. For example, a fast food restaurant is not able to serve hamburgers PETER W A T S O N Dollars & Sense because one smaller regional suppli­ er has computer glitches that tem­ porarily shut them down. Also, the investment industry is extremely well regulated. Many Y2K issues have been resolved well in advance of year-end at the insis­ tence of the regulators. Does the fact that the financial services industry thinks it is ready for Y2K mean that there will be no problems? Of course not. Whatever problems occur will hopefully be corrected quickly. The challenge for your own pro­ tection and peace of mind is to have your own Y2K investment strategy. You need to know what investments you have and be able to prove it with supporting documentation. We suggest that you prepare a complete statement of net worth. List all your personal and invest­ ment assets plus debt. Do that now. Then, one month before Dec. 31st, redo that statement. Contact the investment firms you deal with and get a statement sent to you. Make sure that you request details like account numbers and cross ref­ erence numbers, the number of mutual fund units or specific shares owned and the price per share. Next, some time in January, request the same information again. Compare the information with the actual Dec. 31st statement. By having specific investment records before and after Dec. 31st, you will be able to satisfy yourself that the official Dec. 31st statement is accurate. By having this informa­ tion, you will be able to prove your ownership if there is a dispute. Whether there is a Y2K problem or not, having accurate records is important. Good records will help you if there is a problem and if there is not, it will give you peace of mind. Peter Watson, MBA, CFP, RFP, is the President of Peter Watson Investments, an Oakville firm specializing in retirement planning, RRSPs and investment plan­ ning. He can be reached at 842-2100. V IIIIIIIIIIIIIIIIIHIII ROYAL LEPAGE w tm m i iiiniiiiiiiHP111 ■ & K vm H a r le yLiz RCr«t4EM1ATIVE5 4267845(905) Proud sponsor o f ' C h ild re n 's H o s p ita l _______ sU*. Mi_______________ Photo by Ron Kuzyk H E L P F O R C H IL D R E N 'S H O SPITAL:W hen Royal LePage Agents Liz and Kvm Harley listed Leslie and Don Collins's home, they were told that a portion of their sales commission would be handed over to Children's Hospital in Hamilton. That was good news for the family. They knew about the hospital when their son Kevin used the facility. Along with their donations, other Royal LePage reps around the Golden Horseshoe also make similar donations. The result is a signifcant donation to the hospital through its Mother's Day Telethon that runs May8th-May 9th on Ontv. Left to right is Kevin Collins (9), Kym and Liz Harley (Royal LePage), Don and Leslie Collins, and Emma Collins (5). http://www.haltonbusiness.com