20 — MANCIIESTKH HKHALD, Saturday, July 16, I9H3 BUSINESS Is U.S. Congress ready Bolton, Wlllington start Mix business for the Studds affair? crucial school-cost talks with pleasure Form a personal investment strategy while you’re young ... page 2 ... page 9 . ... page 20 (EDITOR S NOTE: This Sylvia Porter weekend column is taken from her book, "Sylvia Porter’s Your Own Money, ” published by Avon Books.) starting out as an investor, it mav How do you achieve this growth? That is the most BIk Your be difficult at first to obey this rule. You may have important, and most unanswerable, question. One If the world of investment brings to mind enough available money for just one stock or mutual rule is basic, though; The greater the risk, the greater overweight, blue-suited e.xecutives thumbing through Money's lund. That s a good initial move, but your investment the potential return. thick reports or scrutinizing tickertapes. you havethe strategy must not end there. As soon as you can Developing your strategy, then, requires balancing Fair tonight; wrong idea. Investing is for everyone, particularly Worth diversify. That way, you can take advantage of the risk of investments against their potential for Manchester, Conn. .voung people. In fact, now is one of the best times for long-term upswings while minimizing the chance of large profits. In the process of balancing, be bold, but sunny Tuesday them to invest because they can be bold, even gamble Sylvia Porter being wiped out by a temporary but drastic downturn Monday, July 18, 1983 not silly. There is a fine line between boldness and — See page 2 wdth the few dollars they can afford to risk in search of Many different investments, you will find, will suit foolhardiness — and you must learn to draw this line Single copy: 25C that truly worthwhile investment. A young person your individualized needs. with increasing accuracy. doesn’t have to be rich to do it: as little as $100 will buy SWINGING OFF WITH SEVERAL IF YOU ARE under age 18, you cannot walk into a Umlh a stake in certain mutual funds, for example. What is BASKETS OF EGGS, EITHER. Just because iHaurh^atpr needed is the determination to think through vourown investments of 10 percent a year was considered diversity IS a good thing doesn't mean anything that's broker's office with a wad of bills and begin needs, develop a strategy to meet those needs, and extremely productive. During the dou’ole-digit late new or different is worthwhile. Somespeculators snap speculating in commodities. In fact, persons under 18 follow through on that strategy. 1970s and early 1980s, however, anything less than 15 at any rumor or tip no matter how wacky. No matter are not allowed to trade in any kind of securities in any Alway.s set aside a certain portion of your spendable percent might have been considered a foolish risk how inviting an opportunity looks, be on guard: There established market in their own name. Being under when insured savings certificates frequently could age need not stop you, however, since the vast income in savings — whether in "liquid'’ bank offer an equivalent return. The only way to keep on top are so many get-rich-quick schemes advertised in the accounts or in quickly cashed short-term securities — media, every person who can read or see should be a majority of states have enacted their own versions of for future personal or educational needs, as well as for of the situation is to monitor inflation and interest milhonaire-plus by now. You know better. the Uniform Gifts to Minors Act. Under this act, your .... rates constantly on your own. Keep a notebook with parent does the actual buying and selling but, merely Revamp urged emergencies. But don’t let your savings program • NEVERTHELESS, BE OPEN TO CHANGE. monthly entries for the consumer price index (the by filling out a short form (available at any broker’s Ceremony deter you from investing. After you’ve contributed semiofficial inflation indicator) and the prime rate Don t be so hypnotized by your first investment that adequately to your savings, whatever other spendable you hold on to it blindly when every market signal tells office), your parent transfers real ownership to you. income you can scrape together may be considered (the interest rate charged by major banks for loans to you to sell. On the other hand, don’t be so overly In effect, your parent acts as your agent — buying and available for investment. Saving and investing a total their best, biggest customers). When you get cautious that you sh by as opportunity after selling as you direct — while you are the ultimate for medics of 10 percent of your income is a fair goal to aim for, accustomed to these fluctuating rates, you’ll have a opportunity approaches and then recedes. Keep on winner or loser. in office of much better sense of what you should be doing with your toes. All this brings up one final and absolutely crucial your investment money. , WHY NOT put all your money in savings? History point for those of you under age 18 and for those of you is tonight underlines that, in the long run, financial institutions’ INVESTORS generally look for three distinct goals: who are legally adults but are still living with (or AS YOU WORK out your personalized investment under the care of and with the financial support of) savings accounts and U.S. savings bonds will pay you strategy, keep these guidelines in mind: (1) a steady flow of income; (2) long-term less than the inflation rate. In the short run. you’re appreciation in value; (3) short-term, rapid growth. your parents; Do not attempt to invest without your The paramedics and advanced state attorney unlikely to come out a winner unless you lock yourself • SET ASIDE AS MUCH AS YOU CAN FOR parents’ knowledge! INVESTMENT PURPOSES. Without jeopardizing I'*'"®® holdings often seek to There is no reason why your parents should not emergency medical technicians into a bond, note or certificate yielding high interest your savings program, try to discipline yourself to live off the steady flow of interest or dividends paid on have been in service under the rates the moment before interest rates tumble. their investments, and often such income serves as applaud your desire to formulate an investment town’s new Advanced Life Support Bv Mark A. Dupuis ribbon commission said the crea­ Saving money is important for emergencies and for pass by some minor but costly pleasures for the sake their retirement income in whole or in large part. On strategy as opposed to saving for a fast car, this year’s United Press International tion of units and divisions was not of your investment program. If you can achieve the 10 clothes, or a week with your friends bumming around system for a week and the service high-ticket necessities, and savings accounts and U.S. the money I assume many of you can afford to invest will be officially dedicated at the done through an orderly savings bonds are good places to store your money percent combined savings-and-investment goal, right now, you can’t possibly care about the few on your own. You are investing after you take care of HARTFORD — A special com­ expansion. that’s admirable. If you can do more — that’s “wow' ’’ all your legitimate needs, not before. The money you Town of Manchester Fire Depart­ until you determine w here you want to invest But dollars of current income your investments could ment's central headquarters at 7 mission today recommended res­ Instead, the commission said, once you’re ready to start investing, shift away from ■ WHATEVER YOUR GOAL IS, STICK TO IT. By 6drn. invest IS money you normally would waste or fritter tructuring the state Attorney Gen­ the structure was an attempt to far the most destructive blow to any investment away if you did not put it to work. p.m. today. sluggish accounts and put the money you can afford to What you really want, above all else, is strong, rapid The question of what degree of eral’s Office, saying the office was "artificially superimpose a man­ risk to work for you. program is dealt by the investor’s lack of discipline If your parents are absolutely opposed, you are still unable to best serve the slate agement structure designed for an Make investment an essential item in your personal growth over a period of five to 10 years Your response is appropriate has come What is a good returnmn investments? For most of investments, although thoughtful, should display an one step ahead because you can begin as soon as you up repeatedly at discussions about because of problems that deve­ administrative bureaucracy ontoa budget, and don’t cheat. You’re cheating only one become financially independent. Then you can loped over several decades. 'group of legal professionals.” the 20th century, when both interest rates and person: yourself, aggressive strategy that takes a few calculated risks. the service. Those involved say the inflation ran at single-digit rates, a return on inaplement the strategy you already have developed The 22-member commission, The commission said the crea­ • DON’T PUT ALL YOUR EGGS IN ONE BASKET. You are in a race, and if you spring ahead of the pack response will be adjusted with you are at a tremendous advantage. while your friends are still trying to figure out why experience.