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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Dec. 14, 1981)
UJl ll ( I' ./ THE BATTALION MONDAY, DECEMBER 14, 1981 ;|l| j 1 ;' Page 4 Local (CClflSSIFIED MS sure to get results)) Visit our store this t ^ason i select from gifts of proven design 4 lasting quality. Spectrarc fhanging prism, y *; jff for your own M pr ivate ra i n b ow Aladdin Lamps uiet brilliance or a soft white light. Sweaters choose from fine all wool ora cotton sweaters in classic styles Shirts Texas cool weather shirts of flannel, wool,^ chamois cloth Bunting lightweight warm, even when wet. jackets, vests,* pants Down Vests finest quality I007< prime goose down filled-and you don't pay any more! Down Booties two of the nicest things you can do for cold feet. in beautiful muted plaids* solids for men and women Binoculars Swift, Pen tax, Bush nel I, and Zeiss. Best selection in town Fleece Moccasins cushion your feet in the naturally fluffy softness of genuine lamb shearling. Elf at work? uane mir ha 1 Both a :h own Mli want ijuuity. But on Janice Jaeger, a sophomore biomedical science major from Conroe, gives the last touches to her Santa’s Workshop. Jaeger has been building the workshop lor severalda«j the front of her room in Haas Halt Flannel Might shirts Old fashioned comfort* warmth for those long winter nights. Act aids retirement funding Swiss Army Knives A tool chest in your pocket...in 25 models We have all these favorites + dozens of exciting new gift ideas for children 4 adults. Plan to help in golden years Whole Earth Provision Co. 105 Boyett 846-8794 Mini unranifrrnrtr r'Trr TtmTv »iru^ " **■*"*• *~**t By JOHNA JO MAURER Battalion Stall Retirement planning always seems to be put oH until spine fu ture date. lint when that time ar rives, prior planning may have been a great help. Now is the time to start plan ning. Effective Jan. 1, as part of the Economic Recovery Tax Act of 1981, Individual Retirement Accounts (IRAs) will be made available to all wage-earning peo ple. Prior to the passage of this law, only workers not covered by a pension plan or other retirement programs were eligible. An IRA is a special investment sav time. Unde $2, (KM) of that lets people se etirement plan on income taxes at the sam progran their own up mcl CASH FOR TEXTBOOKS! ■ the new law, up to annual earned income can be invested and allowed to accun’mlate on a tax deferred basis in any area selected. Earned in come doesn’t include income from interest or other sources. Tax deferred means that this in vestment will be deducted from annual income tax and will not be taxed until the time of eligibility to make use of it — at age 59'/2 mini mum and 70'/2 maximum. Distribution of IRA money must begin at age TO'/a; until then, contributions may continue. Money taken from the IRA will be taxed at the level of income at that time. At retirement worker’s income levels usually drop, put ting them in a lower tax bracket. The money invested in an IRA can vary in amount from year to year and can be invested many different areas. It is not necessary to make a contribution every year. and installment payments rather than lump sum contributions arc also permitted. To illustrate the potential of an IRA investment of $2,(MK) per year, which accumulates tax-free at 10 percent interest, assume that a 25-year-old has 40 years in which to make investments. With an IRA plan, the total tax-deductible in vestment will be $80,000. The value of the IRA plan at 65 will be $1,084,042. Assuming the person is in the 30 percent tax bracket, he would save $21,600 on taxes, making the value of the IRA plan $1,105,642. The only limitation imposed by an IRA under the new law is the penalty of early withdrawal. If funds are withdrawn before age 591/2, regular income tax must be paid on the amount withdrawn plus a 10 percent penalty tax. So, if the IRA balance is $10,000 and $1,000 is withdrawn, the penalty is $100, and the initial $10,000 be comes immediately taxable. The only exceptions to this rule are disability or death. Bd of th |ir coin (Last Ni '9-acrc lavasota -inm jbehed o fforts gp cons ii|ed win tiled in M em could on. I Now t Inflation is one factor thatiftst adju be taken into account wheniBVestwc g the decision to begin an ItfMpfs L Although there is no guanAon be< that any investment willoutpBl do inflation, Glover said if prt jlumty. investments are made, therei opportunity to maintain the chasing power of capital. “The IRA in its newlorm# 1 signed to let the average waif ner in America retire in a dignified manner,” Glover jj S0I ^l "It has a minimum of p bureaucratic intervention an* straints which I find isal ways good.” Hazel Holland, vice presiB Any ( of Brazos Savings in Bryan.Bsoners the overall advantages of “"■ght,” ment in an IRA are thetas si fOntrol is provided to current inconifwy to sp< the ability to provide for r E i fOn tin ment years. K ne >' ol The advantage to the ‘m^ 1e 1 country, she added, is thati at will e tax r< Rmpt si Ind taxes The money invested in a savtp .pmifest,’ loan institution can he ^~, L 1 into the economy. Your Bookstore Is Buying Back Your Text books At The Following Locations Now Better Than Ever. You Will Be Pleased Wit These Carefully Prepared and Taste Tempting Ft Each Daily Special Only $2.19 Plus Tat “Open Daily” Dining: 11 A.M. to 1:30 P.M. — 4:00 P.M.to7:( MONDAY EVENING SPECIAL 1) MSC BOOKSTORE 2) THE COMMONS AREA 3) SBISA DINING HALL Mon., December 7th thru Fri., Dec. 18th 8:30 till 5 p.m. Salisbury Steak with Mushroom Gravy Whipped Potatoes Your Choice of * One Vegetable Roll or Corn Bread and Butter Coffee or Tea TUESDAY EVENING SPECIAL Mexican Fiesta Dinner Two Cheese and Onion Enchiladas w chili Mexican Rice Patio Style Pinto Beans Tostadas Coffee or Tea One Corn Bread and Butter WEDNESDAY EVENING SPECIAL Chicken Fried Steak w cream Gravy Whipped Potatoes and Choice of one other Vegetable Roll or Corn Bread and Coffee or Tea bperati' ffexus De jd Nava m.” emir nding ded in Washi te sclv [airie V: has T THURSDAY EVENING SPECIAL Texas A&M Bookstore pays 50% of the new book price for texts being used in the following semester: »SI Italian Candle Light Spaghetti Dinner SERVED WITH SPICED MEAT BALLS AND SAUCE Parmesan Cheese - Tossed Green Salad Choice of Salad Dressing — Hot Garlic Bread Tea or Coffee FOR YOUR PROTECTION OUR PERSONNEL HAVE HEALTH CARDS. Exceptions are as follows: 1) Torn or Abused Books 2) Paperbacks 3) Old Editions 4) Overstocked Titles r ^ m wBK' * w fiooksfcore FRIDAY EVENING SPECIAL BREADED FISH FILET w TARTAR SAUCE Cole Slaw Hush Puppies Choice of one vegetable Roll or Corn Bread & Butter Tea or Coffee SATURDAY NOON and EVENING SPECIAL Yankee Pot Roast (Texas Salad) Mashed Potato w gravy Roll or Corn Bread & Butter Tea or Coffee SUNDAY SPECIE NOON ami EVENIlf ROAST TURKEY 01# Served with Cranberry Sauce Cornbread Dressing Roll or Corn Bread - Bi# r ' Coffee or Tea Giblet Gravy And your choice of any One vegetable ft ft ft Sit the hoi del yot (“Quality First