Jewish World Review Nov. 11, 1999 /2 Kislev, 5760
Y2K: No big deal for real estate
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
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).
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