QUINCY M.E. — A BET ON THE RIGHT TEAM

e [Music] a [Music] [Applause] [Music] to oh [Music] what do you think Quince you going to take the Coulson 7 oh don't do it DOC Miami scored 28 points last week and the week before 31 points so they scored 59 points in the past two weeks who did they play last bril he bet against them both times and both times they were playing the doormats at the Eastern Conference you call the Giants doormats what else what are you going to do Quin hey don't worry about Quincy as a gambler he was great carer every Timmy bets on is a stiff oh laugh he's right that's why I quit get G you quit gambl only on short things yeah like the Cowboys or New England in seven or Denver give the points right Quince I don't think you guys heard me right I'm only going to bet on a lead pipe CCH and here it is you're going to give us a hint is it NFL or AFL no it's the PSP oh the PSP and what is the PSP the payroll Savings Plan Johnny Oh you mean you wear savings bond that's the safest way to save there is if I come out on next Sunday's Dallas K game I won't have to say it here we go how'd you do last week how did you do the week before that weeks ask him how he's been doing for the last four years now my way is a lead pipe sitch you win every month and you know what the outcome is he's telling to you like it is and take it from a guy who once played ball with the w Kean Maple Leafs what position guard tell him right I gave up gambling in line no thank you George Washington let me ask you something d maybe it's a good thing for some people to say by way but uh why should I say you have all people you've been promising yourself a new camera for 2 years why haven't you got it gambling right and you when is your kid enrolled in college about 5 years five we you going to get the money for his education he's right and you've been promising yourself a trip you want to see where your father was born football season comes you're broke yeah but quin's bonds bonds take a long time to mature is that right that trip toada with your kid you went fishing yeah h how long ago was that 5 years seems like yesterday does it same with the series e bonds they matur in 5 years with 6% interest if you're not ready to use the money when the Bonds mature you can hold on to them for another 10 years if you want to then continue to draw interest each year yeah but there's no tax when you been on football of course not you don't get tax that what you lose I got to go huh let's now make sure that all my employees get wi to this okay take it easy and you don't have to pay tax on your savings bonds for your son's education yeah well how's that work well it's right here all you have to do is file a tax return in your boy's name showing the interest as income and as long as his yearly income doesn't exceed the amount allowed for his personal exemption there is no tax due when he cashes the bonds means nothing to me my kids are grown in 10 years I'll be retiring that doesn't let you out Ed you should use the payroll savings plan for retirement you could also get a a special tax advantage when you buy bonds to build up your retirement income yeah how there are two ways you can buy Series E bonds now at a rate fitted to your income then when you retire you cash the bonds as you need them you report only the interest but then I'll be paying the tax ah yeah but your retirement income is generally lower right so your taxes are usually reduced or sometimes even eliminated all together and listen if you want to defer taxes even further you can exchange your ebonds for H bonds oh what's the difference H bonds pay interest semiannually by treasury check so you can apply the interest you make on the ebonds to the purchase of the H bonds and you can keep deferring tax on the ebond interest until the H bond is cashed or reaches final maturity you mean all that ebond interest still continues to earn me money when I buy H bonds it's hard to believe huh well now now tell me something well how does that work in in money terms okay suppose you buy a $100 ebond each month for say all right 15 years that's a lot of money to lay out every month it's not as much as you think I'm only talking about $75 now if you buy a $100 Bond each month for 15 years you want wind up with you want to talk about big money you wind up with over $21,000 wow you bet wow not only that by adding just a few bucks you can exchange the ebond for $21,500 in age bonds now you've made almost $8,000 in interest on the ebonds and remember the tax on this interest is deferred when you exchange the ebonds for the h bonds when how much does that work out a month you're not going to believe us Johnny over the next 10 years Your Average monthly income would be $19 compared to the original monthly investment of $75 and the $21,500 principal is left intact now you got it of course you do pay tax on the accumulated ebond interest when the age bonds reach final maturity or our redeem but that's at a lower rate but what if you can't afford to save if you want to take that trip you can't afford not to save you got a point look when you join the payroll savings plan you can start out with a minimum amount and increase it as you go along but I've already got a lot of deductions will you stop thinking of it as a deduction it's your money it's always there when you need it meanwhile it's Gathering interest besides you show me a better way to save one that's automatic that guarantees a 6% rate to maturity and that has as many tax advantages yeah speaking of taxes what about the state and local taxes savings bonds are exempt from state and local income or personal property taxes how you going to lose you can that's what I'm trying to tell you with a bet that's backed up by by the United States itself another thing if the bonds are lost or stolen or destroyed they're replaced free what if I buy one then I change my mind I don't know why you would want to do that anyway you can cash an ebond 2 months after the issued date well I'm sold where do I sign up well forget balore I'm taking the sure thing me too hey and thanks for the tip what a friends for thanks a lot you know each week Quincy fights for something he believes in and in this case as Jack kugman I couldn't agree with him more Bond dollars bolster our country's economic strength while they grow to put our own personal saving goals Within Reach contact each fellow worker and explain to him or her the advantages of joining the payroll Savings Plan give him or her this authorization card and ask for Action the time it takes to write their name is the time it takes to become a steady Savor and who knows I may save enough money to get Oscar's room clean thank you all right fellas your bookie numbers in the as tray come on let's go let's so no more all the money goes where belong [Music]