Newspapers / The Duplin Times (Warsaw, … / June 17, 1982, edition 1 / Page 6
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? ? ^^___ ? ^ ? ^L___ I ?! Bl ?? - ,4''-"- ^^Bi <v^^K i fl'i&B*:' ilH I ^Bfl I I H V H H ^B I I ^ I I I HVHB ^H mH ^mi ' _ _^___ ___ Jj B 11 11 I H ^ B B Hj III V B B I I 11 B B BI BI BI BI BB ^BB W ? ? H J ^ 1 II B IB II II IB II B1 B II B B HI ? ??? IHB^BH^^^. BI^HI^B ???HA ?? R II r I I LI ?b^ HMI^b H ^B l ^ B i|h^h^ I For more than six months now, you've been besieged by ads from all sides telling you how some particular Individual Retirement Account (IRA) will make you a millionaire. From retirement in the Bahamas to own ing your own horse farm, all of these ads have one thing in common: they're very misleading. Dishonest? Not technically. For depending on your age, the amount of your annual contribution, and the number of eligible incomes in your family, you could indeed wind up with as much as two million dollars in your IRA in 30 or 35 years. HERTS THE PART THAT H0B0DY TALKS ABOUT. hvery Dank, savings institunon, stock broker, investment house and insurance com pany offering an IRA bases its interest rates on the current state of the economy and projected rates of inflation. High inflation rates mean high interest rates, and it's those high current interest rates that make an IRA's earnings seem so awesome. So, yes, if interest rates continue this way for the next 30 or 35 years, you could indeed be a millionaire. Maybe even a multi-millionaire. But here's the kicker: everything else will be going up in cost at the same rate! That means that while you might be a millionaire by definition, you'll also be buying apples for $120 a dozen. And a small apartment will be renting for $3,600 a month. And a new car (small) could set you back at least $76,000. Puts a whole new meaning to the word "millionaire," doesn't it? WE BELIEVE THAT BEING WELL INFORMED MEANS BEING WELL PREPARED. Does all this mean that r irst Utizens is opposed to IRA's as a method of protecting income? Not at all. What we are opposed to is the current rash of "pie in the sky," "something for nothing" advertising that, sooner or later, is going to give IRA's a black eye. \ We just happen to think that IRA's are attractive enough on their own merits that mis leading advertising is uncalled for. For probably 90% of the people, IRA's offer their best hope of retiring with some semblance of disposable income. Comfortable? Perhaps. Extravagantly rich? Not a chance. GROWTH OR GUARANTEES? THE CHOICE IS YOURS. Not everybody has the same goals or the same amount of capital to invest. Lewis R. Holding, Chairman of the Hoard, First Citizens Bank And that's why First Citizens offers two IRA programs. The first, and most conservative, is our 30-month, guaranteed-rate IRA. The interest rate on each deposit is guaranteed until matur ity ?no matter what happens to the economy. At the end of that time, we reinvest your funds and earned interest at the then-current rate. For people more interested in growth than guarantees, we offer a second IRA account. This one runs for 18 months and offers a variable rate of interest. Currently, this plan is paying interest higher than our guaranteed plan. The catch here is that there are no guar antees on the interest rate, and the rate will change each month on all funds in the account. Tt miilH r?ff#?r vru tr hirrhiact- nnccihl a rate* XV VA./U1U V/11V.1 J V/Ul pv/uvjiW1V 1ULV of return, with none of the charges and fees that many investment houses charge for the same type of plan. But, we should also caution you that it's possible for the rate to fall below the level of our 30-month plan. The choice is yours. PRESENTING THE MOST IMPORTANT PART OF A FIRST CITIZENS IRA. The IRS. While everybody else is talking about making you a millionaire, we think they're over looking die most important feature of an IRA: the savings you realize each year in the income taxes you pay. That's money in your pocket. And it can mean a lot. For as inflation shoves us into ever higher income tax brackets, we need to conserve every cent of spendable income we can. So, in your quest to become a millionaire painlessly, don't lose sight of the important tax advantages you can gain with an IRA right now. WHY WOULD ANY BANK PROMOTE ITS IRA LIKE THIS? Simple. We believe there's already been too much hype, too many inflated promises. We also believe that with something as good as the IRA, you don't need a lot of false promises to sell it. A J **T/\ K/\l 4 AITA rM/xof ruiu wcucucvcuiicuuiu uwig. uiatuiucu. people like you would rather do business with people they trust. We want our customers to know that when we tell them something, when we offer a piece of advice, when we come up with a new service that we think is of value, they can trust us. So that's what youH be getting from First Citizens Bank. Honesty. Advice You Can Count On From The Bank You Can TrustM I Remember, There Are Substantial Tax And Merest Penalties For Early Withdrawals From Individual Retirement Accounts. Member FDIC.. And Your Community. ?1982 First Citi/ens Bank A Trust ^ompany M 7 I I | * ' r'
The Duplin Times (Warsaw, N.C.)
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June 17, 1982, edition 1
6
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