Indianapolis Recorder, Indianapolis, Marion County, 30 April 2004 — Page 26

• PAGE D2

THE INDIANAPOLIS RECORDER

FRIDAY, APRIL 30, 2004

MONEY

► Continued from Page 1 Credit card debt - Credit card A competent advisor will anadebt goes hand in hand with, lyze your current situation and “keeping up with the Joneses” help you to develop and implecreating a mammoth money ment a strategy to work toward mistake. Use this simple rule, your financial goals. It has been “if you can’t afford to pay for said that, “Yesterday is history, something within the next 30 tomorrow is a mysteiy, but today days - don’t use your credit card is a gift, that’s why it’s called the to buy it.” present.” If you have current credit card Don’t waste your present, start debt, first don’t add to it and then today, figure out a way to pay it off within the next 12 months. Don’t let Michael G. Shinn, CFP, Regiscreditcard debt prevent you from tered Representative and Adviachieving financial success. sory Associate of and securities offered through Financial NetAvoiding the big money mis- work Investment Corporation, takes, doesn’t necessarily assure member SIPC. Visit that you will achieve financial www.shinnfinancial.com for success. You may need the help of more information or to send your a financial advisor. comments or questions.

What better way to say I Love You then to say it to the vhole city. For ON LY $30.00

Show the people of Indianapolis how much you love your Mother. Our advertising executives are waiting to reserve your space. Space deadline is May 3. Z004 so don t miss out. Call (317) 92.4 943 today.

wwwJndianapolisrecorcler.com To subscribe Odl 317/924-5143

Kwame Jackson says he's successful navigating through the ranks of corporate America

By KENNETH MEEKS From BlackEnterprise.com Kwame Jackson had one reason for leaving Goldman Sachs to pursue an apprenticeship under Donald Trump: “I have my whole life to be ordinary and only a few moments in my life to be extraordinary.” During weeks of living in a fishbowl for the world to critique, Jackson, an investment manager and the only Black male on “The Apprentice" TV show, hurdled over obstacles that he hopes shows just how extraordinary a man he can be. The critiques were cruel in some cases. In a weekly online commentary, BE Editor-in-Chief Alfred A. Edmond J r. actually wrote that Jackson was giving the H arvard M. B. A. program a bad reputation. That, says Jackson, was a sting much harder to deal with than being the only African-American male on the show. I n fact, Jackson says that being the only Black man on Donald Trump’s reality show didn’t present any challenges that he hasn’t already had to deal with in life. “This isn’t mv first time at

Kwame Jackson this,” Jackson, 30, says. “I’ve always been that one Black kid ... I’ve gotten used to it. I’ve learned to wear the mask; I’ve learned to interact. I’ve learned to be myself, but, at the same time, I’ve learned how to move among the crowd. So for me, going on the show wasn’t any different. It isn’t like there were a billion African Americans running around at Goldman Sachs and on Wall Street. For me, being around an all-Caucasian cast was nothing new. “I’m very much from the Huxtable background,"says Jackson of his middle-class upbringing in Charlotte, N.C., by his stepfather, a doctor, and his mother, a

CPA. He says the bigger adjustment was for his white counterparts who had never met anyone like him. Jackson was someone they couldn’t pigeonhole as either the Black guy raised in isolation from the rest of the Black community - and, therefore, comfortable to be around - or the militant, threatening Black man who no one can get along with. His fellow wouldbe apprentices couldn’t quite put him in a box because - yes - he is athletic, but he’s also intelligent, funny, and has been around white people before. “The cast had to spend time getting comfortable with me,” Jackson explains. “I didn’t have a lot of direct African American vs. majority issues, and if I did, they were things that I’ve dealt with so many times in my life that they were easy. Someone would say something like, ‘Hey, we have to go Kwame, why are you brushing your hair? You don’t have to brush your hair.’ ” Anytime this happened on the set, Kwame just moved on, never feeling compelled to be the lone Black “ambassador” who teaches white America about why we put

grease in our hair. Everything he needed to move ahead on the show, Jackson says, he learned in kindergarten. “That’s important for AfricanAmerican professionals because we all have chips on our shoulders from the baggage ofbeing an African American dealing with the corporate world,” he asserts. “These are people who don’t look like me, don’t interact like me, they don’t know anything about me or my history, and they don’t value it.” Yet, despite it all, Jackson says it pays to get along with them, asserting that it doesn’t mean he has to lose himself or compromise his values. “But if you hammer people over the head enough (with your Blackness), you’re going to turn people off and people aren’t going to want to work with you, and then they will be quick to label you. That’s one of the biggest lessons; it pays to get alongto be a team player and build relationships without compromising yourself.” And while Kwame didn’t win the chance to become Trump’s apprentice, most would agree that his future is bright.

LOHERY ► Continued from Page 1 Technology Fund. The Lottery has earned the state $2.4 billion since 1989 vyhen it sold the first scratch off ticket. “By statute, $30 million goes to the teachers’ retirement fund annually, $30 million to the police and fire pension fund. Then the remainder of our revenue is merged with the riverboat (casino) revenue, and out of that merged fund is taken about $240 million a year to reduce the excise tax which benefits most vehicle owners in lowering the cost of license plates, which is about $20 million a month,” said Ross. “The balance remaining from those funds historically has gone to the Build Indiana Fund around the state.”

The Indiana Lottery is a not-for-profit state government ag.ncy, and the money it raises is used to generate funding for the many programs controlled and operated by the state. “We are an entrepreneurial business established by the state and our mission is to generate capital for the state of Indiana; we operate just like any other business,” said Andrew Reed, the director of public relations. With adollar spent to purchase a lottery ticket, 57 cents is used to pay out prizes to lucky winners around Indiana. The Powerball game is a multi-state game, which means that Indiana is not the only state playing at a chance to win those millions in cash dollars. In fact, 28 different jurisdictions,

including 26 states, are competing for the millions. “That game (Powerball) is administered by a staff in Des Moines, Iowa. Those administrative costs are paid out of the funds that we generate and that is a very small portion of what is taken in the Powerball game. All sales then come back to Indiana we make the same amount of money that we make on a Hoosier Lotto sale as we would a Powerball sale,” Ross said. The Powerball game has gotten up to an estimated $120 million. If a Hoosier happened to win that money, 3.4 percent will be withheld for state taxes and 25 percent will go the federal government. “Winners will probably see

about half the winnings, and they will have the option to take the money all at once or in portions over the course of 25 years,” said Reed. “We tend to find that our older winners take the lump sum and a younger winner takes the annuity, but it is totally up the individual. One thing is important and that is that we encourage all of our winners to speak with professionals about their winnings - that includes attorneys, bankers and others.” In its 15 years, the Indiana Lottery has generated billions of dollars for the state. Just last year, sales of all products totaled $664.5 million, up from 2002 by $38 million.

BUSINESS BRIEFS

Indianapolis voted as best place to live ' Indianapolis was named one of the 10 best places in America to live by Monster.com, a leading online global career network, as well as a top hiring management resource. Monster.com referred to these cities as the "creme de la crfcme" and featured descriptions of each city in its relocation section of the Web site. Monster.com described Indianapolis by saying: "The nations 12th largest city has undergone a dramatic revitalization over the past decade, bolstering its strength in the manufacturing, distribution, retail and service sectors. The selfproclaimed ‘Crossroads of America’ was named the 'most affordable city over 1 million people' by the National Association of Homebuilders. Rich in arts and culture, Indy combines ‘big city style and Hoosier hospitality."’ Free resources provided by Myvesta Whether you are wondering what factors go into your credit report or you want to know your rights during repossession, looking online for answers to your financial questions has gotten easier. Myvesta, a nonprofit consumer education organization, recently made available its entire online library of self-help publications free of charge.

The more than 60 publications cover a wide variety of financial topics that can help people get out of debt, better manage their everyday finances or teach their children about money. For more information or to view the library visit their Web site at www.myvista.com. Dollars help fund affordable housing Lt. Gov. Kathy Davis has announced that the Indiana Housing Finance Authority has approved more than $15 million for affordable rental housing. If you would like to see a list of affordable housing that qualifies for the dollars visit IHFA's Website at www.indianahousing.org. Chrysler driving tour Chrysler is inviting people across the country to take part in the Art of Driving tour May 22-23 at Indianapolis Raceway Park. The 12-city tour officially kicked of in Los Angeles early last month. This year marks a significant year for Chrysler with the launch of the 2005 Chrysler 300, PT Cruiser Convertible, Crossfire Roadster and Town & Country Minivan. Three specially designed driving courses are available at each event for the more than 75 vehicles on hand for attendees to drive including competitive vehicles such as Cadillac, Lexus, Toyota and BMW models. For more information call 1-888-639-6366 or visit the Chrysler Web site at www.chrysler.com/ artofd/iving.com.

CLUB ► Continued from Page 1 to do it. All you need is a few bucks — as little as $20 — you can invest every month, the determination to follow the stock earnings of several companies, and a few like-minded friends who are willing to join in. Also, you don’t have to be a financial whiz. People from all walks of life run investment clubs, from high school students to Ph.D.s. While as an individual you may have only a small amount of money to invest, pooling your resources with others increases your buying power and ups the speed and size of the payoff. Many of us are familiar with West Indian “susus.” A group of 10 people, say, contributes $100 every’ week and each person in turn gets the weekly pool of $1,000. While this is helpful, it’s more like a rent party than an investment club. An investment club is a legally structured entity that is a safer and more profitable way to make money as a group than a susu. In fact, most clubs are formed as a partnership, with bylaws, a taxpayer ID number, officers (e.g., president, vice president, secretary and treasurer), formal monthly meetings and corporate bank and brokerage accounts. Since starting an investment club is serious business, here are some things you need to know: Choose the right people in your clique: Clubs generally recruit 10 to 25 members. Most people who join are family members, friends, or co-workers. Chemistry is more important than

size though. Also, you want hardworking members. Trifling friends and family members will bringtheirbad habits to the group. So, those folks who are always borrowing money from you because they’re short a couple dollars on the rent, are not the people you want to join. Set short-term and long-term goals: •> What do individual members plan to do with the money they earn? Are they planning for their kids’ college education? Retire^ ment? Setting goals is important because it will help members decide which stocks to buy and how long to stay invested as a group. Assign members responsibilities: Each person should be responsible for researching companies, learning everything they can and presenting their findings to the group. For example, significant news about that company or industry, most recent quarterly sales and earnings figures, and a recommendation as whether the group should buy that stock. Adhere to six simple rules: No two clubs are alike. However, successful ones follow the same basic principles: (l) invest regularly; (2) stay fully invested; (3) diversity investments across different industries; (4) reinvest all dividends and interest earned; (5) hold shares in at least a dozen different company stock; and (6) focus on companies with earnings and sales that are growing faster than the overall economy

Carolyn M. Brown is a business finance writer and editor living in New Jersey. She authored The Millionaires' Club and Nobody’s Business But Your (hen