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in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, A ug us t 23 ,2 01 8 | 16 Need New Windows? Diamond Award Winner Visit their showroom to shop for Windows & Doors. 3245 Harvester Rd, Burlington 905-333-6705 Custom made Kitchen and Bathroom Cabinetry | Closet Systems Entertainment Units | Basement Renovations | Full Renos and More! Create Your Dream Look ♦ 100% Canadian Made Cabinetry ♦Quality Craftsmanship ♦ 20+ Years Experience ♦ Visit our 6000 sqft Design Centre Units 2-3 333 Wyecroft Rd, Oakville T 905.844.3332 F 905.844.3334 www.aromakitchens.ca | info@aromakitchens.ca "FREE INSTALLATION" Offer applies to new purchases only on cabinetry over $5000 before taxes. Please visit showroom for further details. Some restrictions apply Nominated for Best Trainer, Chris LeBlanc and Best Weight Loss! readerschoicereaderschoicer .oakvillebeaver.com Oakville Beaver DiamonD awarD For Best in Fitness 461 north service rd. w., Ut B36 www.primalathletics.ca 647-896-3294 A SUMMER TO REMEMBER. Shorter days and cooler nights are key reminders that summer is winding down. It also means the end of the Kerr Street Day Camp (KSDC) for 2018. And what a summer it was for campers, volunteers and our staff. This year our summer camp was exclusively run out of the KSM facility, which allowed us to provide extended care to our families by making use of the wonderful facilities and resources in our own backyard. Whether it was swimming, playing camp-wide games at South Forester Park, enjoying the latest movie, cooking, using their creativity or learning in Bible Study - there was never a dull moment at KSDC. We also introduced some new and innovative programing this year to the traditional camp schedule. Campers participated in our Green Space Project and weekly nutrition workshops which allowed for interactive learning experiences and a way to contribute to KSM's food security initiatives. We are so blessed to be able to provide lasting summer memories for all of our 170 campers. A huge shout out to all of our staff, volunteers and community partners for helping making this a summer to remember. To learn more about KSM, or how you can help - please reach out to us @ 905.845.7485 or visit www.kerrstreet.com Kerr Street Mission 485 Kerr Street, Oakville P: 905.845.7485 Charitable Reg. No. 897106845RR0001 An incremental sav- ings plan is one where you reduce, or get rid of, a recurring expense. This is how a coffee drinker could become a millionaire. It is quite easy. All it takes to understand this concept is a little arith- metic. In financial planning we spend a lot of time talking about savings. In order to build a portfo- lio, you have to save a small part of what you earn. For many there is not enough money at the end of the month to save. An entire paycheck seems to disappear. On the other hand, most people have enough disposable in- come for a daily treat and that is often a cup or two of coffee. It's very easy to spend seven dollars a day on your coffee treat. What would that seven dollars a day grow to if it was in- vested? Assume an 18-year- old started to save seven dollars a day until age 65. With inflation, things cost more every year so I will also assume our sav- er increases their saving amount by three per cent per year. Another assumption is that the annual return on investment is eight per cent. At age 65 our coffee drinker would have ac- cumulated just under $1.8 million. Then I will assume an equal amount was withdrawn every year to provide for retirement spending for the next 25 years. In the first year of re- tirement, the money withdrawn would be $120,000 per year. The withdrawal amount would grow three per- cent per year to keep peace with our inflation assumption and the fi- nal withdrawal, at age ninety, would be $250,000. Yes, our coffee drink-Yes, our coffee drink-Y er is a hypothetical ex- ample where I make as- sumptions, but the main take-away is the effect that even a moderate savings plan can have over the long-term. Can't give up your ja- va? Take a look at a typ- ical day's expenses and check for ways to trim the spending by a few dollars. My suggestion is to start a savings plan, and the younger you start the better. Peter Watson, of Peter Watson Investments MBA, CFP®, R.F.P., CIM, FCSI, offers a weekly financial planning column, Dollars & Sense. He can be con- tacted through www.peter- watsoninvestments.com. A COFFEE DRINKER COULD BECOME A MILLIONAIRE MONEY MATTERS START A SAVINGS PLAN, AND THE YOUNGER YOU START THE BETTER, WRITES WATSON PETER WATSON Column