Students
perceive
investing
as more of

chore than

challenge

COLLEGE STUDENTS
should choose secure in-
vestments rather than the
risky stock market for their
summer earnings.

By Anne Starret
Contributiag Writer,

“The prudent course is to make
sure the money is there when you
need it. |

While one investing axiom ad-
vises, ‘A big risk is the key toa
_ big -gain,’’ another preaches
restraint: ‘‘Never risk what you
can’t afford to lose.’”’

The second is smarter.

. Wannabe “tycoons on campuses

“like to-boast-about the killings -.

they made-on the market. Ignored

in “the . impressive .tale _ are their |

more frequent wipeouts.

Some students seem to be most .

prone ‘to quick-hit investments of
the crash-and-burn variety.
In. contrast, some students see

‘investing - their earnigs.."as. more

chore than challenge, and choose
caution. :

In‘ seeking. a. parking place: for
summer. earnings that you'll need
~~ befere the end of the school year,
there’, are two "overriding con-
. siderations: safety and the amount

’of- interest.

That translates: into flexibility.
- You: want: to. put -your money
where. it) will receive. the highest
“reward _ but. can: be: “cashed .

-:Mutual ‘funds are roblematic.
The™ value’‘of-your “equity in-
. vestment-sgyratese,with the stock

market. It ‘calls for. good timing in .

getting. out. or -you may wind up
with less than you putin. ~ *
Besides; © there’ might be ‘a
front- end “load”? or commission.
‘Money © market. funds, -on’ the
other hand, provide a decent .
return” in these days of ‘dipsey-
doodling interest. rates and can be
cashed in within two days.
Canada’ Savings Bonds. are
solid, and-cashable three months
after purchase, but better suited to
long-term investment...
Guaranteed. investment certifi-
cates (GICs).-from banks or trust
companies ‘usually provide a
return ‘a shade higher than gov-
ernment bonds but -are- locked in
for a specific period. ts
The trick, then, ‘ is to take your

summer . savings. and stagger the -

placement of GICs. ~
if you have $5,000 you might
put $2,500 into a 30-day GIC, the

' other half into a 60-day GIC, and

keep on. rotating them so that
some cash is available any month.
Before you decide who should
get your money, shop around for
‘the best interest rate. An extra
half per cent on $5,000 over a-
year buys a good text book or a

‘dinner for two after exams.

. Moneycare is general financial
advice by Canada’s chartered ac-
countants. Anne Starret is with
Starret, Starret & MacDonald.
Information is general ‘in nature
and should not be taken as
definitive personal advice. .

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