The Salina Journal from Salina, Kansas on May 24, 1998 · Page 53
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The Salina Journal from Salina, Kansas · Page 53

Salina, Kansas
Issue Date:
Sunday, May 24, 1998
Page 53
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PERSONAL •H • r*-"*-.»V'«»- te^^d Finance f c By JEAN SHERMAN CHATZKY Stock-market novices: Go with a mutual fund Q: I'm a new investor in the stock market with only two weeks' experience. I opened an account with a deep discount broker because I have just $2,500. What should I do? Can you recommend any books? Jeff Stone, Los Angeles A: Just by getting started, you're already on the right track. The trick for a person with limited funds is not getting eaten alive by brokerage commissions. That's tough to do when you're investing in individual stocks. Even deep discount brokers charge a typical $25-$35 to execute your trade. So if you choose to put, say, $500 into each of five stocks, you've already lost 5 percent to commissions. Instead, see if your discounter offers a menu of no-load (no sales charge) mutual funds. There are some expenses associated with mutual funds; each year, you'll lose an average 1.4 percent of your fund assets to the "expense ratio," which covers the manager's salary and other "The trick Is not getting eaten alive by brokerage commissions." administrative expenses. But your out- of-pocket is substantially less. And it fits your budget. Minimum initial investments are usually $1,000-$3,000; subsequent investments can be as low as $50. Particularly if you want to get in the habit of regularly putting in small sums, buying funds through a discounter is an easy way to begin. As for reading material, start with the business section of your local paper — check your stocks or funds regularly in the tables. Also, read your brokerage statement. If there's anything you don't understand, call customer service for an explanation. A good book on getting started is Get a Financial Life (FIRESIDE, sn), by Beth Kobliner, which offers advice not just on investing but also on buying your first home and staying debt-free, ra Contributing Editor Jean Sherman Chatzky, a Money magazine editor, wrote TTie Rich and Famous Money Book. She is seen on NBC's Today show and MSNBC. 14 USA WEEKEND • May 22-24, 1B88 USA WEEKEND TRAVEL ALABAMA Alabama Is unforgettable. From breathtaking beaches to championship golf, Alabama Is filled with a variety of destinations and activities, all at affordable prices. Call 1-800-ALABAMA for your free vacation guide. MINNESOTA 11. SflMTMKMM USAFESTML- AU51HMN. family CtMntlan FiUi» July 3-taatti, MI B, 19M A one-of-a-klnd-three-day holiday family destination, Highlighted on July 5 with children's SPAM games, SPAM activities, SPAM contests, SPAM entertainment and unique SPAM food choices served all day...SPAM merchandise tent tooll It promises to be SPAMTASTK™ 1-507-437-3448. NEW YORK 21. NIAGARA USA. We'll have you seeing things! Fun things. Fascinating things. A world famous waterfall and breathtaking scenery. Incredible shopping, sportfishlng and special events that will thrill the family In an affordable way. Free guide: 1-800-338-7880 CALIFORNIA COLORADO 2. PALM SPRINGS DESERT RESORTS Eight sun-drenched cities offer the finest in golf, swimming, tennis, sightseeing, nightlife, shopping and spas. Call for reservations, a free Vacation Planner and R&R Club brochure with discounts on resorts, recreation, retail & restaurants. 1-800-41-RELAX MISSISSIPPI 12. Delta blues. Civil War sites. Antebellum mansions. Round-the-clock casinos. 150 golf courses and the Gulf of Mexico. Call 1-800-WARMEST (927-6378) and find It all in the brand-new Mississippi Itavaf Planner. OKLAHOMA 22. Call today for your FREE vacation guide to central OK's Frontier Country. Includes calendar of events, attractions and vacation destinations. 1-800-386-6562 3. If your kids think treehouses are cool, wait till they get a load of this. Want to give your kids a real life adventure? Let them walk In the footsteps of people who lived 1,000 years ago at Mesa Verde National Park. For your free Official State Vacation Guide, call 1-800-COLORADO (1-800-265-6723). MISSOURI 13. FREE MISSOURI TRAVEL NT - Includes map, travel guide and events calendar. From music shows to outdoor adventures, family attractions to historical sites, vacation In Missouri - Where the Rivers Run. 1-800-810-5500 ext 119. OKLAHOMA 23. OKLAHOMA, NATIVE AMERICA™ — Experience America In It's Native State.™ Home to more than 200 lakes, ancient mountains, territorial towns, metropolitan cities and tribal tradition. For a free guide, call 1-800-652-6552, exL 534 OKIAHl NAHVE COLORADO 4. Discover Western Coloradol The Colorado National Monument, river rafting, hiking, mountain biking, wineries, shopping, din- Ing, family activities and affordable lodging. 4 hours from Denver. Call for a free vacation guide. 800-962-2547. Gnml Junction, Cokndo VMtortCnnmtiinBMu AUndttiaiolMHntin MISSOURI 14. Springfield Is home to Missouri's #1 attraction - Bass Pro Shops Outdoor World, Just minutes from Branson. The perfect spot for your Ozark's Getaway. Call 1-800-678-8767 for your FREE Vacation Packet. 24. Come visit and enjoy the Heart of Pennsylvania featuring Pennsylvania Dutch-Lancaster County/Gettysburg. . . America's Turning Polnti/Harrisburg- 300 Designer Outlets/York-Hlstory & Harley-Davldson.

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