^ - imiuw y . ?*?. - - i
STAM photo rr DOUG ?UTTfl
Church Work
Construction continued last week at St. Brendan the Navigator Catholic Church on VS. 17 south of
Shallotte. The new church m ill seat more than 500 people. A spokesman for the general contractor ,
Clancy and Theys Construction Company of Raleigh, said he expects completion in November.
MONEY MANAGEMENT
College Saving Strategies
You Can't Afford To Overlook
If you haven't thought about sav
ing for your child's education by the
time you're helping to blow out the
candles for his or her first birthdav
you may already be falling behind
The high cost of college tuition,
which has outpaced inflation for the
last decade, makes it vital that par
ents initiate a college savings strate
gy for their children as soon as possi
ble According to the N C Associ
ation of Certified Public Account
ants, your investment strategy will
vary depending on when you need to
make that first tuition payment ITie
earlier you start saving. the more \ou
can afford to invest in vehicles that
offer substantial long-term growth
potential, such as stocks
As the time to make tuition pav
ments gets closer, you'll want to be
more conservative in your invest
ments. The last thing you need is tor
the stock market to take a dive when
college tuition bills arc due llo*
ever, in either case, it's important to
adopt a diversified savings strategy
The NCACPA suggests that you
consider the following investments
Stocks
Over ihc years, good quality com
mon stocks on average have outper
formed other financial assets. How
ever, you should consider stocks on
l> if your children arc at least five
years away from collcgc so that you
can ride out changes in the stock
market
One way to minimize your risk in
the stock market is by investing ;n a
stock mutual fund Under the direc
tion of a professional investment
manager, mutual funds purchase
shares in a variety of industries This
diversification enables you to mini
mize any losses that may result from
the poor performance of a single
company
Typically, mutual funds require
that you make an initial investment
of only $1,000 to S3, (MM). Investing
such modest amounts would not oth
erwise enable you to participate in
such a broad range of securities.
Bonds
If your children arc still young,
bonds also offer you a way to invest
for long-term growth.
Municipal bonds, issued by state
and local governments, are exempt
from federal income taxes, and usu
ally income taxes in the issuing
states.
Treasury bonds are exempt from
stale anil local taxes l-ven though
the stated vieKl on these bonds is
low. the after-tax yield ma> he better
than that offered on taxable bonds
l or higher income individuals espe
cially. tax free bonds are likely to be
a * isc investment
Zero Coupon Bonds
Ifiesc bonds are usually pur
chascd at a substantial discount from
face value Interest is paid at maturi
t\. although sou must pav taxes vcar
Iv on the accrued interest /.crocs arc
espccully suitable lor college fund
ing since you can coordinate their
maturitv dates with deadlines for
making college t ion pavmcnts
Baccalaureate Bonds
A sanation of zero coupon bonds,
these bonds arc specifically de
signed for collcgc savings Ik-causc
thev are issued in smaller denomina
tions than other /crocs, they arc
more affordable for low- and mid
dle- income families Another advan
tagc of baccalaureate bonds is that
thev arc free of federal, state and lo
| ? $ % n,tm -V. .1 r.n tV. ..
Ctii tiiX ?i? pviiv iuih" UlCx
bonds, which are available in aN>ut
2(1 states, contact a stockbroker
EE Savings Bonds
U S Scries I I Savings lionds arc
among the rru?st flexible savings op
tions. Chcv pay a variable rate of in
terest. with a minimum of 4 percent
Federal tax on accrued interest
needn't be paid until the bonds arc
cashed
What's more, interest on these
bonds is free of state and local in
come taxes It the bonds will be
used to pay lor college tuition costs,
they may also be exempt from Icd
eral tax if your income docs not ex
ceed certain limits
Money Market Funds
If your child is only a few years
away from college, put some of your
savings in liquid money market mu
tual funds Although the rate of re
turn will be lower than other invest
ments. your princi pal is safe l"hat's
the sccuritv vou'll need when col
lege tuition bills arc fast approach
ing
l-inallv. CPAs remind parents that
the earlier you start saving for col
lege. the more your investments can
work for you and the easier it will be
to accrue the necessary funds.
Mont-\ Management u a weekly
i ulumn on fter.utnul finance pre
/ Hired anil distributed b\ the Sorth
Carolina \wim latum of Certified
I'uhln An ountants
Building Business Agenda Is
Topic Of Satellite Town Hall
A national satellite "Town Hall"
on Building the National Business
Agenda" w 1 1| be cu-sponsorcti by
Brunswick Community College
Small Business Center and the three
Brunswick County chambers of
commerce.
It will be in the teaching auditori
um of the Administration learning
Resources/Student Center on BCC's
main campus I h.ursday, Sept X.
from 1 1 a m until 12:45 p.m
"The grassroots program will al
low Brunswick County's business
community to link nationwide with
others to build a national business
agenda," said Mike Royal, BCC
small business director "This video
conference will be broadcast via
satellite to sites across the country. It
*ill give Brunswick County busi
ness owners anil their representa
tives the opportunity to express their
insights and perspectives on a na
tional level."
8% INTEREST!!
6.2% Guaranteed 5 Years
No Sales Charges
Good For IRA's and Savings.
Many Other Rates Available.
Call: James E. Sanderson-579-9919
Richard C. Glenn SECURITIES AMERICA, INC.
PO Box 2865 1 8 Resort Plaza
Shallotte, NC 28459 Shallotte
(910)754-6771 Member NASD/SIPC
"Huilding the National Business
Agenda" will feature legislative
MtaltgiM?. -.peaking on s.vvacs facing
businesses Topics such as health
care reform, the federal budget and
international trade will be discussed
After a briefing, each person at
tending can participate in a ques
tion .md answer forum
To reserve a space, call BCC at
754-6900.
Triple
Tax-Free NC
Municipal
Bonds
6.00
%*
Equal to taxable yield of
9.375% for NC resident.
North Carolina Municipal
Bonds are exempt from
Federal, state and local taxes.
You keep 100% of what you
earn-ano that's what
counts.
For more
information
call:
910/763-1641
or
1-800-288-5055
frank D. Vol!
Financial Consultant
Wheat
First Securities
Mm*** New ?vt Stack f irtiwp ml S*T.
102 S. Second Street
Wilmington. NC 28-101
?flata axpfattad m y>*W to maturity ?? of 8/20/94
MarVat coodiftoos may affact prk*? ytotda Gobbet to
availability and aarly c*)> tor radampuon AMT may
apply Anumai 31% Fadaral and 7% Stata tax
brack a ta
BUSINESS BRIEFS
Carlson Is Named Beacon Editor
Managing Editor Lynn Carlson
has been named
to succeed her
father, Edward
M. Swratt, as
editor of The
Brunswick
Beacon.
Sweatt and
wife Carolyn
will remain as
publishers.
Carlson and CARLSON
husband Eric joined the Beacon staff
in 1992 She is a 1976 graduate of
the University of South Carolina
School of Journalism and was previ
ously editor of the Outer Banks
Current and correspondents' editor
of The Coastland Times of Manteo.
The Carlsons live at Holdcn
Beach.
Enzor On EMC Board
Monroe Enzor Jr. of Cerro Gordo
in Columbus County has been ap
pointed by the Brunswick Electric
Membership Corporation board to
fill the unexpired term of Ixroy
Williamson, who has resigned
The District 1 1 scat serves Cetro
Gordo and Tabor City Enzor is a
farmer and retired vocational agri
culture teacher.
Retires From Bell
Carolyn Gore-Ferguson has re
tired 30
service
with Bell Tele- I If 1 '"t
phone
began 1
her with
Tele
phone Comp
Brooklyn. fl
N in I<*>4
anil retiring
from Pacific ?.?)RKHR(.t son
Bell. Torrance. Calif., as a service
representative
She graduated from the Bruns
wick Count) schools in Southport
and is the daughter of Vlattie and
Arthur Gore of Bolisia.
She lives in Inglewood. Calif ,
with her husband Charles
Four Named RHS
Four local manufactured housing
retail salespeople have been desig
nated registered housing specialists
(RMS) by the NC Manufactured
Housing Institute
They are Margie Johnson of John
F. Parker Sr./Scacoast Development
Inc., Holden Beach; and Connie T.
Bowling, Gerald and Julia Beck of
Pinewood Manor Homes, Shallotte.
The program was developed to
provide training and certification of
manufactured housing retail sales
people arid to "reward those whose
knowledge and professionalism are
a credit to the industry," according
to an institute news release.
To earn the RHS designation, they
completed a training program and
passed a comprehensive examina
tion.
New NRC Inspector
At Brunswick Site
A new Nucicar Regulatory Com
mission (NRC) senior resident in
spector. Charles A. Patterson, began
work at CP&L's Brunswick Nuclear
Plant at Southport on July 10.
He replaces R.L Prevatte, who
has been transferred to St. Lucie nu
clear power plant near Fort Pierce,
Fla. According to Ken Clark,
spokesman for the NRC's regional
officc in Atlanta, inspectors are rou
tinely reassigned every three to Five
yean on a rotating schedule.
As senior inspector, Patterson is
in charge of overseeing the on-site
inspection program at the plant and
supervises two other inspectors. The
three make daily inspections as they
monitor all systems, from the con
trol room to health physics and secu
rity, checking to sec that NRC pro
cedures are followed.
Patterson most recently was the
NRC's senior resident inspector at
Tennessee Valley Authority's
Browns Ferry nuclear plant. Since
joining the NRC in 1983, he has al
so served as a restart coordinator,
project engineer and resident inspec
tor. Before 1983, he worked at
Farley nuclear plant operated by
Alabama Power Company and with
Westinghouse Electric Corporation.
He gained his First nuclear experi
ence with the U.S. Navy Nuclear
Program from 1968 to 1974.
He earned a B.S. degree in engi
neering from Idaho State University
in 1978 and a master's degree in ad
ministrative science from the
University of Alabama at Huntsville
in 1986.
Patterson can be reached at the
Brunswick plant at 910-457-9531.
Research Published
Kenneth C. Willeford, M.D.,
anesthesiologist
and pain man
agement spe
cialist at The
Brunswick
Hospital, re
cently pub
lished "Neutral
Head Position
For Placement
of Internal Jug
W1LLEFORD ular Vein Cath
eters" in the medical journal
Anaesthesia.
The article describes a new tech
nique used for resuscitation of trau
ma patients and treatment of patients
in the operating room and intensive
care
William Temple Allen, CPA, P.A.
income Tax Preparation/
Representation
(feaerai and all state returns)
Accounting and Bookkeeping
Services
Computerizea Payroll
Tax and Estate Planning
Former IRS Assistant Director
Technical Division, Washington, D C.
25 Years Tax Experience
Ragpatch Row, Calabash
579-3328
Securitj7 Savings Bank
announces
New Higher Interest Savings
Come by any of our offices and let one of our
staff introduce you to the highest yielding
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6-MONTH
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ANNUAL PERCENTAGE YIELD
2-YEAR
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3-YEAR
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5.87?/[
A minimum deposit of $500 is required for the above
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These APYs are accurate as of August 30, 1994. The offer
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Security
SAVINGS BANK SSB **
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754-4371 579-3595 457-5246 371-6546 278-6022