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Posted on 08/05/08

Give your retirement savings a potential boost: Look into an IPP

Tim Cestnick is managing director at WaterStreet Family Wealth Counsel and author of 101 Tax Secrets for Canadians. tcestnick@waterstreet.ca

If you're like many, you're probably looking forward to retirement. You'll have more time on your hands to do what you want.Consider Leo Hill of Lakewood, Colo. Mr. Hill decided to spend time in retirement as an amateur consumer advocate. He became suspicious of toilet paper manufacturers and concluded that there were fewer sheets per roll in a 12-pack than in a four-pack. He counted 60 rolls, sheet by sheet, and concluded that he was being short-changed by one sit-down session per roll in the 12-pack. He took his findings to the media, where a reporter tested his theory, but did not come to the same conclusion, even after testing nine brands.

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