The Palm Beach Post from West Palm Beach, Florida on December 12, 1976 · Page 139
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The Palm Beach Post from West Palm Beach, Florida · Page 139

West Palm Beach, Florida
Issue Date:
Sunday, December 12, 1976
Page 139
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Page 139 article text (OCR)

FFIO-Palm Beach Pos-Times, Sunday, December 12, 1976 Buying Preferred Stocks Will Increase Income obligations are your responsibility, and your credit is your No. 1 asset whether or not you owe money. By contrast, the eager beavers writing these "push button" ads for banks, like the nameless bureaucrats working in them, will not assume official responsibility for the computer foul-ups and clerical mistakes that are haunting the banks, their customers and the debtors and creditors of their customers. bills by telephone. You record the amount of money you want to transfer to various creditors over the telephone and onto a computer terminal, and everything else is taken care of for you. Somehow this seems too easy to me no checkbook, no records and I can't believe it's as foolproof a method as they claim. What do you thiik? - Mrs. P. K., Minneapolis. A Your instinct is right. Your .' Eliot Janeway V lSff Ti ) itor, than it would be opening its books to you. Q I am single, 27 years old with a bachelor's degree in English and psychology, I spent three years teaching high school English and psychology and have been unemployed for the past six months. What I really want to do is go home to Michigan and set up a small specialty shop a combination tobacco shop, specialty book shop and rare record shop. I have no capital but am ready to work in a facory for a virile to get the money. Is this possible? Would you advise business courses? E. A. C, Auburn, Calif. A You're already overeducated for matriculation in the school of hard knocks. If you want to put together enough money to afford the luxury of going into business for yourself, you need not one job but two. Save what you make on your second job. This is no time to go into business on a shoestring. Q My bank has just offered Us customers the option of paying their afiflD years of graduate school. While I did manage to get a certain amount of money on scholarship, I still owe over $12,000 in student loans. I am employed right now, but I make barely $8,500 per year, and despite the austerity program I've put myself on, I just don't see how I can pay the $100 per month the school wants. What would you suggest I do? I took out these loans in good faith, fully intending to pay them back. I want to pay them. N. B., Evans-ton, 111. A Your candor does you credit, and so does your sense of obligation. Congratulations on not taking the easy road along with the defeatists who've been making headlines by electing bankruptcy rather than meeting their obligation to pay back the institutions which financed their start in life. Borrowing has been a perfectly legitimate activity since this country's industries started. You have nothing to be ashamed of. . The government agencies and educational institutions which made these loans and set these repayment schedules took altogether too much for granted. The fact that they are out of money need not run young graduates out of credit. The honorable, responsible and businesslike way to meet your obligation and, incidentally, to make your contribution to the integrity of the loan fund you owe is to work out a modest start-up payback program within your present means. Student loans are either all waste or long-term investments in the ability of young people to convert their skills into earning power. You will be much more comfortable opening your books to your educational cred- w Q I have over $14,000 in growth stocks and growth funds but need an additional $1,000 per year in income. What is the best way to get it? J. G., Fort Lauderdale. A Do what the institutional pension funds have finally figured out how to do: Switch from stocks yielding a measly 2 per cent to preferred and common utility stocks and oils yielding all the way from 6'z to 10 per cent. Yours is a problem that's easier to solve than to live with. Q I have been a widow for 15 years and know very little about investments. For the past few years I have had $70,000 invested in certificates of deposit. When one of them expired recently, I invested in 100 shares of a utility preferred. I have no idea whether or not this was a wise investment. The stock is selling at $67.95 per share and yielding 9 per cent. Do you think it would be wise for me to hold on to this stock, or would I be better off selling? What would you advise me to do with the rest of my money? Mrs. E. M., Clearwater. A Terminology is all-important in money-using matters. Do be clear, therefore, that the $70,000 you put into your CD is not "invested": you are holding it in a cash equivalent as a reserve available for investment. Luck was on your side when you made this first investment of yours. It was not only wise but shrewd. By all means hang on to it. As the rest of your certificates expire, switch them into utility common stocks. You can still get 9 per cent or better, and you will make money on them in addition to earning this high, safe rate of return. Q I am a 23-year-old student, barely a year out of college, with an overwhelming number of loans to pay back. I financed my entire undergraduate education plus two Open an Individual Retirement Account or SPANISH BARREL TILE Keogh Plan before the end of 1976, to rea tax-sheltered benefits. Complete informat upon y L rl at any of our offices or return the co below, with no obligation. 1 1 CUBAN TYPE First Federal SAVINGS DELIVERY TO JOB SITE HANDMADE-ALL-CLAY. LOAf M 2. WATER REPELLENT - Won't double weight when wet. 3. You can stand on it and it will not break. We bring this beautiful Clay Tile from Latin-America and we keep it in stock We have local jobs. Call us for further info. PfiXPOllTS 3780 N.E. 4th Ave. Ft. Lauderdale 561-1723 - SEND Keogh' . - I.R.A. J B NAME ADDRESS . I - CIT1 STATE g Z"' ------ LIU NO . 1 EN Hi H m SH ASSOCIATION OF IAKL WORTH LAKE WORTH !U LAe Annul BOY M ON BEACH W1 S trdtul Highvuv LANTANA 1WO Lantana Host PALM SPRINGS WO 10th Avtnuf , North PAl M BLACH GARDENS 2500 PC. A B ilvrt! LAKE WORTH ROAO yi hrwhum Unv TEL. M91200 if, it Personalities In II ii si lies s vJ HVVt vt - ? '-I, - V - 'i jl -t - t - t 1 l 1Tk, (J t v f I 4 " 4 ARTHUR K1RSTEIN III - vice president and general manager of the Okeelanta sugar division of Gulf and Western Food Products Co. of Soulh Bay elected president of the Florida Sugar Cane League. I.ixik; vli;it ;i Design Lino phiMic Jtx-s Kir this rexmr If 1 S&Y, 13 ' V t r -i ROB HOLSTKN - named president of the Northern Palm Reach County Board of Realtors. 1W Aavnt with an cxt itino Vsijn Line photio. MiKlcrni:c ymir IvdnxMn with a sLvk Trimlinc11 phone. A Touch-Tone phone. It's twice as tast! ove into today 9s world of telephones. .s When you move or redecorate, update your phone Calling and Call Waiting. Speedy Touch-Tone phone system at the same time.T hesedays, there are are also available to many customers, so many beautiful phone styles and colors, vou can Iwall the details on telephone styles and actuallv accessorize with them. Ch(xse ; "UT Tt ser'ices, ask tor our 12-page, full IIOWAIU) J. FALCON Jr. - appointed to the board of Singer Inland National Bank. t 51 .4. just call your Southern Bell Pi- " E;--, 4 -jv "J MfftisJ; lBusiiT 0,Tia'aml wc'" lvkl ? 1 ' V JACK DAVIKS- - named branch manager of Palermo Real Kstale office in Lake Worth. 8 i 1 ' sleek, handy irimline phones, or conwnient wall phones, or decorative Design Line phones. You may also he able to take advantage of some wonderful new innovations in telephone service. In many areas, Custom Calling Services are available tot lay. These include Call horwarding.Threewav Calling, Speed r ,x y ! I Ana it you wouiu hkc V ft I ; 4n , f J i to see the actual phones, we 11 I JH?ffi J idirectyoutooneofour I .ytflJ, fconx'enientPhcMieCenters (jKOKGK MAKOVICII - appointed Holiday Inn manager for South Florida Southern Bell MAHY-JO IIOKTON - named vice-president for personnel for Burdines Florida. BARBARA SLOAN - named staff announcer at WPTV. 1 i-4 fill l k siti I iik' m-is with i Ik- fvi'i'tiotu't ilw i .milit'tii k t ,ii i H ht"tl'honijt iikuk-k. nuy nul hcniinp.mhlf with if nam he,mni; juts without il- ti-ol an dii,tptmy coupler. (ivrfiUhtt trotf S mtltt-ni IV-II ' ha.lniMik ot AiiK-Mi;m ItlrpKnf ,iinl Irlrt,f.iph ( mip.iny Kctosti-rt-J Ttaili'tnark ct AimTKan lflcphotit- ami Ii-lri;r,iph t 'o-t.p.inv , tKi uistctcil Ir.uK-iiurli ot -uu-ik.ii) Ii'lctnmtiiiiim arioin Uirporarii'ti tt It.iilcinark o AimTkan Itlccotttinumialioiis U'tpor.Ltioi,

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