. 13
YOUR FINANCES -------
T. ' IL.
A You are doing the right
thing by first reviewing your
financial'· tio
Number 0 revie and
ticipate in any programs 0
by your job. So many pie
up; credit unions payroll
deductions saving plans, com
pany tock purchase plans, and
employee sponsored retirement
plans. Some companies offer
low cost I.i& insurance too.
Once you've determined
what your employer does and
does not offer, then you can
begin· �ooseing other financial
serviceS independently.
Secondly, after your check
ing nd avi gs accounts,
choose a money market account
or a credit union account for the
purpose of accumulating some
'1iquid· assets. This will provide
a cusion for any emergencies
that you might encounter three
to six months living expenses in
a nice target amount. Lastlyob
tain adequate insurance to
provide protecti on for your
loved one upon your death.
This willlw,)e your loved ones
to payoff any debts that you may
have and make up for your lost
income. To otect yourself
from prolonge<t illness, a dis
ability policy should be inves
tigated So many people fail to
forsee this possibility and
protect themselves properly. A
few steps taken early .on could
prove helpful as you plan your
married life.
Q. IllVestmalts
c atly relCOIDllDeildb.
icleri Oct
is better )UI" d?
A Approximately one year
later the "Cash of 8'r is still
being felt. Smart investors did I
not run and hide, putting all of
the dollars in a pass book ac
count but have sought safe,
quality alternatives that fit their
goals, and tax situation.
F'acd annuities are number
one on my list of recommenda
tions for investors who want
safety, and tax-deferred ac
olmnlations. On a one year CD
Annuity 8.6% tax-deferred is
aurently. available. There are
no sales fees to inves t or
redeem.
Tax free municipal bonds,
and bond mutual funds with
short to intumediate maturities
are an excellent investment at
this time. Be sure to purchase
bonds �edB to AAA these will
pay between 6.5% to 7.75%
Federal Tax-Free. For the fully
taxable investment choice in
vestment .grade corporate
bonds and bo d mutual funds
are currently paying 9.5 to
·10.25%. These are excellent for
IRA's and children's education
accounts,
For individuals who want to
• remain on the side lines have a
. choice of 6 month to 18 month
CD's paying 7 to 7.75%
FDIClFSUC.
loseph D. Phoenix, Ir., is a
registered �pn!Sentative with the
investment finn of McCarthy &:
Associates, Inc; of Ozicago, IL
Please send all questions to 1'.0.
Box 496-442, Ozicago, Illinois
60649 or call 312-736-6110.
AFRIC A ERIC
A SERIOUS CULTURAL' OFFE
Ram H Edeli D.
President'
The National Urban Coalition
Led by the Reverend Jesse
Louis Jackson, member of the
African American leadership
have embarked upon what can
become a serious culturaloffen
sive. The first step in this
process was taken when Rev.
Jackson announced in a p ess
conference the bi-partisan,
bro dly-based group's decision
to consistently refer to itself as
African Americans.
From this first s ep can come
a full caIe cultural offensive. If
we decide to do it, we can create
the momentum, hope, solidarity
and high positive expectations
that we me in Tbe Movement
years. We can create mar ets,
work nd jobs in our com-
I munities. We can create unity
,. around values and goals, and
give ourselves and our children,
� se of purpose and common
destiny. We can create a power
ful, unified African deaspoora
and realize the full potential of
African people round the
orld,
Despite our curcumstances
today, we are neither impotent
nor ignor t We e powerful
and . e. It is e African
American 0 has defined and
enforced democr cy it ]
codified in American Jaw. If not
for our unrelenting resistance to
. slavery and segregation,
demoaacy in America would
mean t it meaas
•
•
o matt r ho
sits in the eats
of political
po er, the
problem li1 our
neighborhoods
and cities of I
poverty . . . are
our to olve
still today; rigid caste and class
limits, real power only for the
royal blood lines and the weal
thy, and the accepted inferiority
of the common man and
woman. Bee use African
Americans have neve.. ceepted
this definition of democracy, aU
�ericans pledge allegiance to
"liberty and justice for all". Just
as this noble past . our
hands, our future, and that of
this nation,· also in our hands.
W.E.B. Du Boi made the
prophesy in 1903 that the
problem of the 20th Century
would be the problem of the
color line. It is up to us to be
sure tha the color line is not
also the problem of the 21st
Century.
ow' the time for us to unify
our leadership and plan our fu
ture. No matter who sits in the
seats of political power, the
ob in our D.tl·dIblbOr'bolXJs
SIVE
and cities of poverty, poor
education, drug infestation,
business dev.elopment and
freedom are ours to solve.
Government at all levels has an
important role to play, and as
citizens and tax payers we
should be certain that the vital
role of government is fulfilled
But it is we who must change
forever our children's dwarfed
perceptions of themselves; pur
teenagers' lack of self
knowledge and confidence; our
men's inability to create work
and marketsfor themselves and
their families; our women's
failure to be the moral and cul
tural fiber of our gre race. We
need African American leaders
from all walles of life - in every
precinct, in every school, in
-every union hall, in every smaU
business, in every home - who
are ready, willing and able to
unify around the issues' neces
sary to our future, and prevail
We are qualified today, as we
always have been, to shape our
own destinies and have a major,
positive impact on America.
We are qualified to be authen
tic, not token, leaders in busi
ness and industry, scholarship,
politics and religious life. We
are qualified to stabilize our
familifs, our schoo and our
communities. We a 001-
Iectivc new ttitudc about our
selves whidl will match and en
large our qulifications, so the fu
ture will be very different from
the present for us.
� seize the oppottunity.
Ho
It· mo ivate yourself
for success II
By J this month. Once accomplished,
There are set a slightly more difficul chal-
which go into a lenge. Start small and work your
I to become a fi cial success. way up. Remember not to set an
However, one 0 the mo t fre- unrealistic challenge. Recom
quently overloo ed, especially mendation: set the challenge
in the Black mmunity, is small at first but make sure it is
proper motivati something you have not ac-
In fact, it is quite plausible to . complished- before. In other
argue that proper motivation is words, a goal outside of your
the single most important in- current comfort zone.
gredient to achieving financial Third: work smart! Don't let
success. This is not to say that �yone deceive you into believ
motivation alone is enough but mg �at hard work guarantees
it is to say that proper motiva- success. There are too many
tion is absolutely essential hard working poor people in
But how does one get ut of America for that to be believed
the "comfort zone rut?" Now, working smart may re-
Stated simply your co ort quire that you work hard. But
zone is that area of your life . smart work is wor aimed at a
above which you do not chal- specific goal and wor accord-
lenge yourself. ing to a plan. If !you are working
Let's face it, all hu are smart you will have a pretty
at various times in their liv vic- good idea as to how everything
tims of self-doubt, procra tina- you are working on brings you
tion and lack of motivatio . closer to your �oal of fmancial
The difference between most success. -
people and the financiall suc
cessful few is lila the latter have
developed the ability to ]pel
or motivate themselves 0 t of
self-destructive periods hile
the rest fall into a comfort ne
rut where the fear of fa lure
. prevents them from eve at-'
tempting something new.
Thus, your starting atti de
for achieving financial success is
this: Your desire for success
mus be greater than your fear
of failure! Remember: the nly
emotion that will enable you to
overcome procrastination and
self-doubt is the desire for uc
cess.
Secondly, you must chal
lenge yourself to achieve some
thing outside of your comfort
zone. This challenge can be no .
more than committing ourself
to save 100· additional dollars
I
Meanwhile, remember this:
financial success requires that
you take action. 0 guide or no
am t of po itive thinking will
br� about financial success.
Finally: wor faster, smile
more and take initiative - even
if you don't feel li e it.
Numerous studies b v shown
that certain physi L activit"
can have a positive impact on
your menta attitude.
In other words, you can help
yourself become more success
ful by acting more successful
Again, this and other topics are
explored in greater d . in the
guide: Success Motiva ion.