Newspapers / The Charlotte Post (Charlotte, … / June 10, 1982, edition 1 / Page 11
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• Specifics Of New IRA Laws Have Been Obscured? By Mac Thrower Post Staff W riter The specifics of the new IRA laws have been ob scured, to some extent, to the general public by the high-powered publicity sur rounding their creation. The Investment Company Institute report contains the following clarified and simplified list of the basic IRA laws: Every working Ameri can can contribute to an IRA -the maximum being $2,000 a year. -Your contribution, whe ther it's $200 or $2,000 a year, is totally tax-deduct ible -Every year you contri bute to an IRA, you cut vnur laves Rut yon don't have to contribute every year; if you can't afford it one year, it doesn’t jeo pardize what you already have in vour IRA in any way. Also, you need not decide about an IRA invest ment until your tax state ment is filed for that year (For example: you have until April 15, 1983, to in vest money in an IRA for 1982.) “^You’ll never have to pay tax on any earnings, dividends and capital gains earned on the amount you invest in your IRA until you withdraw your money -You can withdraw your money at any time between The ages'of 59 C;T and 70' J without penalty. It is then taxed at normal income tax levels You can withdraw your money before age 59'2 but in that case, a ten percent penalty is added on to the income tax you pay on the amount withdrawn You can choose to put your money into a variety of types of investments: banks, savings and loans, credit unions, insurance companies, stocks' and riddle Battle Moves Office To New Site Eddie B. Battle, one of Charlotte’s leading Pru dential Life Insurance re presentatives, has moved office quarters to 1518 Be&tties Ford Road. His new phone number is 399-6303-office and 399-6546 -residence. “Our other office on Statesville Avenue has grown to be too small so we moved to a better location for our clients,” Battle explained. Battle offers life, health, home, and group insur ance. _ Second in a series bonds, and mutual funds As you iavest in an IRA, whether it's a one-time deposit or one of many small deposits, your money can begin to work for you immediately, compound ing with interest. The Investment Institute provides the following ex ample to illustrate the financial potential of an IRA investment: If you put your IRA money into an investment paying a 12 percent rate of return, and you were able to contribute a *250 a year, after 10 years you would have accumulated *4.911. If you let your IRA grow for 20 years, you'd have *20.175 in your account. And if you have a long time before your retirement, perhaps 30 years, the amount would climb to *67,573." That doesn't make you a millionaire but it does re present a significant hedge against inflationary costs that might continue to hit you and your family after you stop working. According to the Insti tute. 12 percent is a reason able rate oY return to as sume when looking at IRA's. Common stock mu tual funds, they point out. have earned an average Tart^of-t2:!ypercent over the * last five years. However, if you are un willing to take the invest ment risk of common stock funds, the Institute advises considering money market funds which aim for the highest rate of return con sistent with maximum safety. There are many choices how much, how often, when and where. JWutual funds - have^eeh d traditional ve hicle for retirements funds and have been recommend ed by financial advisors for use as IRA investments. In a recent article in cluding experts’ opinions of IRA investments, MONEY magazine quoted one finan cial advisor as saying, "A large fund group is the best place for an IRA The costs .are low, the choices are numerous and you can move your money around.” If you want to learn more about IRA’s, ask your financial institution. A free booklet that answers common questions about IRA’s is also available by mail from the Investment Company Institute, 1775 K St. NW, Washington, D C. I 20006._ I ' Memories are returned... Why not copy and restore those precious old photo graphs that represent such a priceless part of your heritage? You can bring back those magic moments . . . fashionably framed to display in your home or as a gift for someone who will really appreciate your thoughtfulness. We can copy almost any photograph.'and our spe cialized restoration service can provide custom miniatures and enlargements... in black-and-white, sepia, or hand-painted colors. Ask us Id bring back some memories soon. 704/333-0123 Memories are returned at... Edison's Photographies . 3530 North Tryon Street J Vy Chorlotte, NC 28206 ,, (y Pictured above are the members of the Golden Hue Chapter No. 15 Order of Eastern Star, affiliated with the most Worshipful Prince Hall Grand Lodge, Free and Accepted Masons. Jurisdiction row, left to right are: P M. Sis. Osie B Ferguson. Deputy Sis. Jessie B McCain. P.P. Bro. James S. Smith. W M Sis Juanita L. Lowe, W. P Bro. Lewis .J. M. Sis. Kdith Henderson. In the second row standing left to right are. Sis Rosetta Archie, Sis. Burie Linton. Sis Rose Dunlop. Sis Zoretta Diggs, Sis. Patricia Ford, Sis Mary Crowder. ■Sis^Belores Ashford M;<rth;l Whit*. Sis. C arrie Wilson. Third row left to right are: Sis Maebell Lowery. Sis Dorothy Hinton. P M Sis Mary Sherill. Sis Vivian Carelock. and Sis Myrtle Rivens Youth Council Sets Attic Sale For Saturday Take a close look! Your attic is probably filled to the tip top with clothes, books, and furniture you'll never use again. Ask your self, “What can I do- with all of these things pilled awav in my attic?" On Saturday, June t2. from 9 a m. until 3 p m. you can take notes from the Charlotte-Mecklenburg Youth Council as they spon sor an attic sale. That's right! An attic sale is the answer that you have been looking for. The Charlotte-Mecklenburg Youth Council will sale books, toys, crafts, shoes, baked goods, furniture. J games, clothing, plants, cameras, sporting goods, office supplies, used cars, and stereo equipment. There will be bargains galore, and you can save, save, save! The Charlotte-Mecklen burg- Youth' Cobncil Is lo cated at 501 East More head Street WAREHOUSE of SHOES *** LOW Outlet Prices ★★★ Large Assortment of Ladies, Men's,and Children's Shoes PRICE BREAK!!!! . "“Men's $15 Ladies $6 $12 i Children's $10 ^ Infants $6 Ladies Bedroom Slippers $4 Men's Slippers $5 Located Northeast Plaza Phone: Hours: 4423 THE PLAZA 375-6394 Monday-Friday 10-7- Saturday 10-6-Sunday 1-6 1972 CHEVROLET MALIBU. 2 door hardtop, automatic air, steering & brakes, stereo, vinyl top, real sharp car Special *2,400 I97K MISTAN'G. 4 speed, am-fm, car like brand new inside. Local car Special *3,695 19X0 PONTIAC PIIEOMX. 5 door Hatchback, 4 speed transmission, stereo cassette, white, white vinyl interior Good gas mileage for good economy clean car Special *4,400 1979 CADILLAC ELDORADO BAHITZ. Fully equipped, moon roof, good looking car. Metallic blue. Special * 10,995 IttXO TOYOTA CKI.It'A <.T I.IKTBACK. Automatic, air con ditioning. stereo, rear window de froster. creme, sharp car Special $6,000 l!»75 PONTIAC I.K.MANS. 2 door hardtop, automatic air, steering & brakes, vinyl top. red with white vinyl interior, 27.000 miles Special *2, 895 ION I CIIKV KOI.ET MAI.IRC CI.ASSIC 2 dr landau, automatic, power steering & brakes, stereo, ' cruise, wire wheels, V-6. Heal Sharp Special $6,900 I07B CIIKYHOI.KT IMI* \l. \. 4 dr. automatic, power steering & brakes, air. good solid car Special *2. 1 00 Merchants Who Advertise in The Charlotte Post Are Telling You They Appreciate Your Business Patronize Them! ••••_ ~ Wv If VV' AIR CONDITIONING SPECIAL $ 1 A95 • Check For Leaks • Add Freon s HUNTER & WYMAN ^ Auto Center. Inc. VOI R CHEC K IS WELCOME . Ki27 FREEDOM DRIVE -:m-6775 - BEEPER : ;i7»-HXll SIPf••- ^ UN* U* WTOrMUlHC. H*l»***l SOUTH'MGUYWOOO ' msmsm* / \ it SL ^ j CANADIAN MIST ^"wdrm vftUj »iuts;N: . *MtsKtf* ^euACtrn fVC *■ h»u» Mfuio* guAitTV **r\ . and Kxrri i-tM • Af,D m.c»u)CO v«#* 'WiM or THf CANADIAN <MDf* MISTING Misting is going first-class all the way It's the smooth, distinctive taste of Canadian Mist An Imported Canadian Whisky. iMf*0*t|l> 6f B t .P** t . | fa N • ' ANAplA*. .*.*• • • A H» i y * * 19*2 CELICA OT LIFTBACK FuHy equip, ped. automatic tranamiaeion. air conditioning, 2 tona paint, power ateering. crutae control. UBT mw $10,776.45 $1671,45 19B2 TOYOTA STABLET Air conditioning, am radio, tinted glaaa, undercoating, cuatom atrlpea. UBT MW *?J!7** $1602.51 79B2 COBOLL A SB*S 2 door, hardtop, air conditioning, am/fm atereo radio, ylnyt root, power ateering, 5 apeed tranamiaeion. UBT MW $9169.45 $5275.73 1991 TOYOTA DELUXE DIESEL PICKUP 5 apeed tranamieaion air conditioning, am/fm atereo radio, bed liner piue much more Save up t* $2345.73 1M2 COROLLA SEDAN DELUXE 2 door S speed transmission, air conditioning, am/fm MPX radio, vinyl roof, hood ornament, tinted glass, undercoating. LIST MW *786635 $6143.33 HEX CELICA ST J speed trensmisafon. air conditioning, OE gauges padded vinyl root, trim rings LIST MW *8819 32 $7116.02 1SS2 COROLLA LIFTBACK DELUXE Air conditioning, am/lm MPX radio, sun/moon roof, cargo cover, power steering list mw< *9451 79 $0644.00 1tsa TOYOTA COROLLA 2 door automatic transmission air conditioning, multiples radio. vinyl roof, tinted glass, undercoatmp LIST SEW *832440 , $7411.60 1M2 CELICA QT LIFTBACK A* condition log, 5 HMM tranamiaalon, am/tm MPX radio, tinted glaaa, undercoating, power Blearing, cruiaa control. LIST MW ,1018157 $1121.71 1M2 CELICA QT LIFTBACK Automatic tranamiaaion. air conditioning, accent atrtpea. power ateering, cruiaa control, undercoating LIST MW $10,621.57 $lltf.7l 1982 CELICA OT COUPE Air conditioning 5 •peed transmission, door edge guards, accent stripes. U8T MW *944283 $1047.11 1982 TOYOTA 'A TON LIFTBACK (REBEL TRUCK 5 speed transmission air conditioning, am/fm MPX radio, window package, step bump er. side rails. LIST MW *978783 $$4t$.4J 10 OTHER DEMONSTRATORS TO CHOOSE FROM
The Charlotte Post (Charlotte, N.C.)
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June 10, 1982, edition 1
11
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