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Jewish World Review Nov. 11, 1999 /2 Kislev, 5760

Bruce Williams

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Econophone

Y2K: No big deal for real estate


http://www.jewishworldreview.com -- DEAR BRUCE: We are going to buy a house or condo in the near future. We are really in no hurry. Should we wait until after the new year and the Y2K fallout? Will it matter in real estate? -- S.B. Galesburg, Ill.

DEAR S.B.: I can't see any relationship between the two. I may eat these words, but I don't think there is going to be any great disruption come Jan. 1. If you find the house that you are looking for and the interest rates are favorable, I would go ahead with the transaction.

DEAR BRUCE: In one of your recent columns, you said you couldn't understand why people would invest in CDs over a long term when, with a modest amount of risk, a higher return could be achieved. I don't mind taking a small risk -- can you tell me what kind of investments I should consider? -- D.D., Maxcreek, Mo.

DEAR D.D.: There are corporate bonds which are paying a point or two above your current return and are extraordinarily secure, in my judgment. In addition, with a little bit of investment acumen it is not difficult to achieve a 10-percent growth in the financial markets.

The CDs are just a temporary parking space. Over the long pull, you barely achieve growth if you take inflation into account.

DEAR BRUCE: We have a net worth of a little above $750,000. We have been told that if we die, each of our seven children will only get $6,000 and the rest will go to the government. Is this true? What can we do to avoid this confiscation? -- L.L., via e-mail

DEAR L.L.: Somebody has given you some very bad information. As of this writing, each of you has a $650,000 personal exemption. If your affairs are set up properly, there should be no federal tax due whatsoever on your estate.



Send your questions to JWR contributor Bruce Williams by clicking here. (Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided.) Interested in buying or selling a house? Let Bruce Williams' "House Smart" be your guide. (Sales of the book help fund JWR).

Up

11/08/99: Real life is tough luck
11/03/99: The right time to cash a savings bond
11/01/99: Slow road for savings accounts
10/29/99: What do you want from insurance?
10/27/99: You have a right to see your tax forms!
10/25/99: Why own a house at 65?
10/22/99: Online fine, but CDs?
10/20/99: Love, honor -- and separate credit
10/18/99: Find the value of your stocks
10/15/99: Property lien prevents trade
10/13/99: Clear up debt, only then tie the knot
10/11/99: If it ain't broke...
10/04/99: Should I stick with the company IRA?
10/04/99: Get a financial education!
10/01/99: Insurance: Not much one person can do
09/30/99: Lost tickets are lost cash
09/29/99: Trusting only one financial planner
09/27/99: Adult children should help out
09/24/99: Tips for first-time home buyers
09/21/99: Use the rule of 72s!
09/17/99: Legal strategy can be a pain
09/15/99: Teen drivers drive up insurance
09/13/99: Always use an attorney!
09/10/99: Whose taxes are they, anyway?
09/08/99: How do I roll over my 401(k)?
09/03/99: How can I work out my IRS payments?
09/01/99: When your company can't pay you
08/30/99: Beware of shady viatical investments
08/26/99: Landlords vary on security deposits
08/25/99: Educational IRAs must be spent on education
08/23/99: Finding out the value of old stocks
08/20/99: How to get an FHA refund
08/19/99: 100 percent financing is a scam
08/16/99: Will I have to pay a capital gains tax?
08/16/99: Thinking about PMI
08/13/99: Short-term mutual funds a-OK
08/11/99: It's your job to shop around
08/10/99: Sometimes, roots need to be uprooted
08/09/99: 'Pre-approved' doesn't mean a thing
08/06/99: Only you can determine your investments
08/04/99: Bank IRA the lowest-risk option
08/03/99: Reverse mortgages good for the elderly
08/02/99: Get the survey BEFORE you buy the house!
07/28/99: Get a lawyer -- it's worth it!
07/27/99: If it ain't broke...

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