Single best investment for 2004

As a financial consultant and adviser, I am often asked, "What are the best investment ideas?" "What stock is hot?" and, of course, "Should I buy Taser now?" As a contributor to the Jewish News on finance and investments, I am unable to give specific investment advice due to the rules and regulations of my industry. I am also forbidden from using the "guarantee" word, since no investments are typically guaranteed. But today I am going to give you a single great, guaranteed investment idea that you can still do for 2004. It doesn't cost anything, and the returns are immeasurable.

First let me share the best investment I made in 2004. It wasn't a stock or a mutual fund or some type of traditional investment. My wife and I decided to stop complaining to each other about the quality of the public school education that our kids were receiving. Instead, we looked into a private school education. We decided after my daughter's first year of public high school to send her as a sophomore to Jess Schwartz Jewish Community High School. There is no question in our minds that this was the best investment we have made in many years.

The Jewish day schools can't survive without the help of taxpayers like you and me - in the form of taking the tax credit that the State of Arizona offers us. We have the ability to direct some of our state tax dollars to help support the Jewish day schools in Phoenix.

The investment that I want all the readers to "invest" or participate in is the State of Arizona School Tuition Tax Credit program. The Jewish day schools heavily depend upon the scholarship monies provided by the STO. These funds come directly from the Arizona Tax Credit program. Your participation in this important program does not cost you a thing; it is money you would normally pay toward taxes, but instead you are giving it to the STO. This is a dollar-for-dollar tax credit of up to $625 for married couples and $500 if one is single.

I realize that the hardest part of this program is to write the check for the amount. Many of us simply do not have this kind of cash to give all at once. There is an option: Pay via credit card. This way, in addition to receiving the benefits of your card (such as frequent flier miles), you also benefit from the other options your card provides (e.g. deferred payment, no interest, etc.). Your friends, relatives, and co-workers can pay via credit card, too, by clicking on the following link: https://mmm08.rapidsite.net/jewi38/donations/scholarship_form.php.

Any amount of tax credit deduction will greatly assist all of the students who want a Jewish day school education. I understand that this program can appear confusing, and I am happy to answer any questions readers may have. This investment idea is guaranteed to make you feel good. I will go out on a limb and guarantee that it is a great investment and, most importantly, the right thing to do. We need your help, and time is running out. The Jewish Community Scholarship Foundation absolutely must receive the funds before Dec. 31.

Lee C. Eisinberg is associate vice president and financial consultant at RBC Dain Rauscher. He can be reached at 602-508-7863 or by e-mail at lee.eisinberg@rbcdain.com.

Home