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8A STRICTLY BUSINESS/The Charlotte Post October 17, 1996 Stock market requires thought on long-term growth patterns Continued from page 7A $800,000 on your federal income tax return, which can make the after-tax cost quite attractive. Here’s a tip: if you will be tap ping into multiple loan sources, apply for the home-equity loan now. You’ll qualify for a larger credit line when your monthly debt payments are low. Another choice might be to tap into your 401(k) balance. Rates are low, and you are essentially paying the interest to yourself. You must repay the money within five years. There is one drawback though with this method: you’ll slow the growth of your retirement fund. Private sector loans Private sector loans are offered by about a thousand educational organizations, act ing either as direct lenders or as servicers who collect payments. Two of the best are Excel loans and alternative loans from The Educational Resources Institute, known as TERI. Excel loans lend you from $2,000 up to the full cost of your child’s edu cation, minus any financial aid. Youll have up to twenty years to repay the loan. Interest rates run a little higher than those on other loan programs, but they still beat the rates on the typi cal personal loan. The same is true of TERI alternative loans. These loans lend you up to the entire cost of your child’s educa tion, and you have 25 years to repay. Apply for Excel and TERI loans through your child’s college or to each group directly. Extra credit/signature loans “Extra Credit” is the name of an educational loan available from the College Board. Extra Credit loans cover room, board, tuition and fees, minus any financial aid, for up to four years. Interest rates are tied to the 90-day Treasury bill rate plus 4.5. You can stretch pay ments up to fifteen years, but payment of the principal begins right away. Another good option is a Signature Education loan. These loans let you borrow a maximum of $100,000 at the rate of three-month T-biUs plus 3.1, adjusted quarterly, and there is an application fee of 6 percent of the loan amount. You have 15 years to repay, and repayment doesn't begin until after graduation. Check with your child’s college for informa tion on these cost effective loan programs. _ Charles Ross is host of the - nationally syndicated radio pro- ** gram, ‘l^our Personal Finance,” J and author of Your j CdmmonSense Guide to Personal Financial Planning. Sell it in The Charlotte Post classifieds Golf course is a family affair Tax tips Continued from page 7A two local black doctors joined him to buy the land. Powell’s course opened in 1948 with nine holes. It took him almost 30 years to expand it to 18. The 16th fairway, like most on the course, is lined with trees he and wife Marcella planted. She died this summer after managing the club office for years. “We were married 56 years,” Powell says. “She was with me all the way. Just a beautiful lady.” Marcella stood by her hus band through all his strug gles, from the rejections from the bank to vandals who tried to ruin Powell’s dream. When the course opened, a young Martin Luther King Jr. had just been ordained a Baptist minister. Jackie Robinson had only been in baseball for a year. To this day, golf is a sport stained by exclusion. In his battle to make it a lit tle less exclusive, Powell introduced his daughter, Renee, to golf when she was only 3. “My dad got me playing golf before I even knew him, I guess,” she says. Renee Powell went on to play the LPGA Tour in the 1960s and ‘70s, one of the few blacks who have made the tour. “You ask me why there aren’t more black players,” her father said. “I ask it like this: How many owners of golf courses are black? Who was throwing their arms out? Who opened up their arms to them? Think about it. ... It’s up to our society to get rid of this color problem.” Powell turns a switch on the console of the golf cart, and its PAAMD reaches out Continued from page 7A to one department. “All man agers are involved,” Dolby said. “It’s throughout the organiza tion.” To accomplish the goals, the bank is forming relationships with African American associa tions, such as the Central Intercollegiate Athletic Association, National Medical Association and Black Enterprise magazine. The idea is to reach African American professionals who are members of such groups, to establish relationships with the groups and tlie individuals. One relation.ship, for example, has been formed with the Meharry Medical College in Nashville. I’c’nn. The bank lias also encouraged its suppliers to do business with its African American customers. Last spring, NationsBank and Black Enterprise co-sponsored a five-day entrepreneurs confer ence in Orlando, Fla., attracting some 500 African American businesspeople for speeches, panel discussions and seminars on how to operate more effi ciently. Dolby estimates that NationsBank has about a year to 18 months to get a lead in the affluent African American mar ketplace. Other companies are already asking questions and making contacts to establish similar relationships. “We have a very short win dow,” Dolby said. “To our knowl edge, no one else is doing it.” motor starts to hum. He gets comfortable and presses his foot to the throttle. He tools around the course, deftly steering the buggy around trees and over bumps. He clearly loves what he has created. “You know, golf is a nice, beautiful sport,” he said. “That’s the reason I stayed in it. You play the sport and kind of hope that most people in it are nice.” The struggle shows in Powell’s face - eyes round and streaked with red, chin solid, forehead creased with suspi cion. He is a warrior whose battles are behind him - well- fought, mostly won. “I wouldn’t do it again,” he said. “It took a toll on my fam ily, that’s all. It isn’t worth it. I could have done anything to take care of my family.” BUSINESS BRIEFS Isaiah Tidwell has been elected vice presi dent of Wachovia Bank of North Carolina. He serves as regional executive of the Southern/Westem Region. Tidwell began with Wachovia’s Charlotte office in 1972 in commercial lending and moved through the ranks before moving to Charlotte as regional vice president and executive in charge of Charlotte and Mecklenburg County. His responsibilities were expanded to include the Southern Region in 1993. Tidwell Daughters Of The Lion Women's Prophetic Conference OCTOBER 24-26, 1996 • Prayer for Healing Radisson • Personal Prophetic Ministry Grand • Worship and Special Music Resort • Training in Spiritual Warfare & Prayer Charlotte, NC • Laying On of Hands for Commissioning “Equipping Women To Take Their Place Of Destiny In Our Generation” MAHESH CHAVDA BONNIE CHAVDA PATRICU BAILEY ROBERT STEARNS AND OTHER FEATURED MINISTRIES The Daughters of the Lion Roar Again! For Mere MormaHon Contact: M£JU PA Box 472009 • Chariotte, NC 28247-2009 • (704)543-7272 Continued from page 7A exclusion, don’t wait too long to implement your plan. This exclusion allows you to give up to $10,000 each year to as many persons as you wish without incurring federal gift tax. If you give the recipient a check late in the year and it’s not cashed by Dec. 31, you may not be able to apply the gift to your 1996 exclusion; instead, it may only count toward your exclusion for 1997. There is also an unlimited gift-tax exclusion available that allows you to pay unlim ited sums for another individ ual's education without incur ring any gift tax - an alterna tive many grandparents find particularly attractive. In order to qualify, the payment must go directly to the educa tional institution for tuition and related fees. A similar unlimited exclu sion applies when you pay someone else’s medical expenses, as long as you make a payment directly to the medical care provider. But, this exclusion doesn't apply to amounts that are reimbursed by insurance. Give subsidized donations If you plan to make a rela tively large gift to a charitable organization, consider giving stocks, bonds or mutual funds that have appreciated in value - that way you can get Uncle Sam to subsidize your gift. Under the tax laws, when you donate appreciated invest ments, you are allowed to deduct the fair*market value of the gift and you avoid pay ing taxes on the capital gain. SEMINAR $$$ MONEY WOES $$$ HOW TO COPE WITH A MOUNTAIN OF DEBT" This in-depth, one-half day seminar provides all of the secrets, strategies, information, sample agreements, and form letters that an individual or married couple must have to cope with and survive a mountain of debt. TOPICS COVERED (I) How to design a realistic and livable Budget (2) How to work out a volun tary reduced monthly payment plan with your creditors, the Internal Revenue Service, or the North Carolina Department of Revenue. (3) How to stop those harassing phone calls to your home, your parents’ home, or your place of employ ment. (4) How to write one letter that will get the Debt Collection Agency off your case forever. (5) What to do (and not to do) if you are sued by a Creditor. (6) How to protect your personal property and real property from seizure and sale if a creditor obtains a Judgement against you. (7) How to prevent the sale of your home at a foreclosure sale (8) The advantages and disadvantages of filing a “straight” Chapter 7 Bankruptcy Petition. (9) The advantages and disadvantages of filing a Chapter 13 “Wage Earners” Petition (10) How to protect your personal property and real property from seizure and sale after having filed a Chapter 7 Bankruptcy Petition. (II) How to “clean up” your credit file with the credit reporting agencies. (12) How to make a “fresh start” - doing busine.ss and obtaining credit after the storm clears. DATE. TIME. EOt ATION AND TI TITON FEE Wednesday, November 6, 1996 Three Identical Seminar Times Offered: 9:00 a,m.-12:00 noon • 2:00p.m.-5:00 p.m. • 7:00p.m.-10:00 p.m. Charlotte Merchandise Mart 2500 East Independence Blvd., Charlotte, North Carolina Super-Saver Registration $45.00 per person must be received by Fri., Nov. 1, 1996. At Door Registration $65.00 per person If space is available Daniel L. Taylor, J.D. SEMINAR LEADER Daniel L Tbylor, Attorney and Counselor at Law, will present the seminar program. Mr.Tiylor has engaged in the private practice of law for over twenty-five years and currently maintains law offices in Charlotte, North Carolina. He has helped hundreds of individuals and married couples throughout the State of North Carolina gain peace of mind and a “fresh start” by solving their debt problems. Mr. Taylor received his A.B. Degree with honors from the University of North Carolina at Chapel Hill, and his J.D. Degree from the Harvard Law School at Cambridge, Massachusetts. Mr. Thylor is a member of the North Carolina State Bar and the Mecklenburg County Bar Association. SEMINAR RE(;|S I RATION EORM Name Address _ City State Telephone: Home ( )_ _ Work ( . 2^'P . ) Check Seminar Time Selected: _ 9:00 a.m.-12 noon 2:00 p.m.-5:00 p.m, 7:00 p.m.-10:00 p.m. No. of people x 45.00 per person $ Total Amount Enclosed $ CP Mail Money Order or Cashier’s Check (No Personal Checks Accepted) Payable to: Professional Educational Seminars, Inc. P.O. Box 36833, Charlotte, N.C. 28236 (704) 347-0042 ©Copyright 1996 by Professional Educational Seminars, Inc. ### Call one of our professional representatives to help market your business, profession or event in the publication that produces results and keeps you in touch. • StrictlyBusiness, Designed to Profile Minorities in Business and Minorities Successful Within Majority Corporations. • Healthy Body/Healthy Mind, Designed to Keep You Abreast of Current Health Issues, Concerns and Preventions. • The Post, Designed and Dedicated to the concerns of the Black Community. ~ Call: (704) 376-0496 or Fax: (704) 342-2160 ~ I FRANFARRER Advertising & Marketing Director Sc General Sales JERI Assistant Sales Manager & Automotive Specialist It's Your Choice! It's Your Responsibility! Vote November 5th PAT Healthy Body/Healthy Mind Specialist G.M., Account Executive & Circulation Sales The BLACK GUIDE Will Be On Racks The End Of September CALL TODAY!! 376-0496 Construction Specialist Acet. Rep. - Salisbury, NC
The Charlotte Post (Charlotte, N.C.)
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Oct. 17, 1996, edition 1
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