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Cedar Rapids Gazette (Newspaper) - January 3, 1974, Cedar Rapids, Iowa The Investor's Guide By Sam Shulsky intend to retire hi a few months. A broker has sujyiested 1 put into un preferred yielding percent. How would this compare with certificates of deposit yielding 7 lo 7Vj percent which provide interest quarterly and would not entail any brokerage commis- sion? a comparison and there are several factors to be considered. Kirst as to the savings certi- ficate: Some batiks and savings and oans in the; large financial cen- ters are ottering yields, com-' wunded, as ,'liigh as 7.9 percent. This is for deposits running 4 U> 7 years. HMO and KSUC in-! iiK-o is force in member institutions, is, of course, 10 brokerage charge. The money may fte withdrawn be- fore al a penalty. Now as to Ihc prcferreds: The investment, of course, has no maturity ami there are no guarantees of how much it would lx> wortlk if you decided to sell. If interest rates go down, you might realize a profit, if interest rates rise further, you might have to take a loss. Dividends are paid quarterly. It v.ould cost alraul to buy 200 shares of a stock. If you do decide to try for high yield via the prcferreds, I'd favor buying a lower coupon is- sue at a discount from par rather than a high 8'A or even 9 percent coupon at par or at a premium. The discount pre- ferred leaves some room for stock market profit in case of a drop in interest rates. The premium preferred might be called in and paid off at a price below what you pay for it now. j plan to retire next June and will then have to switch to income investments. Over the decade or so I've been buy- ing E bonds. Some 1 plan to convert into H tends. Others I plan to cash and put into 7% percent savings certificates. What will I have to pay in taxes? I also have a small house which I rent out for a month and should sell for 000. I figure that when the mortgage is paid off 1 will sell it and invest the money for Vk no headaches. your oldest bonds into II bonds. They arc the ones which have the most accrued interest and therefore, would cost you (111; most in taxes if iyou were to cash them. tW swtiching to II bonds you may continue to defer the tax on the accrued E bond interest. The most recently purchased E bonds have the least taxable accrued interest, so they may be cashed with the least lax liability. Of course, it is possible that since most of your income will Sam ShuUky The Cedar Kapids Gazette: Thurs., Jan. 3, 1974 9 __ gross return of a year Not only haven't I the slight- tout of which must come taxes, idea of what the general slock market will do over the insurance, water, repairs, etc.) when your money can be earn- ing 8 percent, clear, in high- grade bonds. (J Please comment on my three funds and tell me whether next six months, year, or six to come out, black on white, with the advice to desert Funds A and B in bene- fit ol a bigger stake in Fund O would surely be questionable not leaving myself ;bc from social security you may 1 HVV tax problem al all. 1 don't understand why you feel you must keep that house until it is paid up. Whatever equity you have in it now could be earning 8 percent in high- grade corporate bonds. I can't see keeping a house (mortgaged or not) for a ought to sell out two of them (open to legal action. and put all my money the; third. j mention bunds paying you for the perfect example of a question I wouldn't touch here with a 10-foot pole. Pontificating on the future mar- ket action of three mutual funds, and advising a switch from two to a third is my idea pure foolhardincss. percent or so. How do 1 get them? buying them at a brok- erage firm, just as you would any investment security. 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