(NAPS)-Although many individuals look ahead at how much their investments will be worth if the market continues to rise, it may be a good idea to consider what will happen if it sags instead. That way, you'll be prepared, no matter what happens.

Many prudent investors, particularly those approaching retirement, are considering the benefits of a sound "hedging" strategy.

The simplest "hedge," and the one on which most investors rely, is shifting money from stocks into such ultra-safe vehicles as bank certificates of deposit. These, however, may have the unfortunate effect of exposing the investor to the ravages of inflation.

An intriguing alternative can be to turn to variable annuities, which offer a return of principle guaranteed by the issuing insurer. These products keep the investor's assets substantially invested in stocks while promising to return either all or most of the investment should the market collapse. Like all annuities, they offer the added advantage of tax deferral.

By actively managing the invest
ment and using a variety of protective devices, often including options or futures, the insurance companies that offer these instruments keep the money at work in the stock market while guarding against meaningful losses.

Although this sort of strategy could be prohibitively expensive for individual investors to manage on their own, for a professional adviser handling perhaps hundreds of millions of dollars, the cost is quite manageable.

These products, often referred to as "equity index annuities," may differ from each other in many important ways. The guarantees, for example, can vary widely. The stock market "participation rate" can be radically different. Some products pay dividends, others don't. Expenses can be relatively moderate or extremely expensive.

A professional investment adviser can guide you to products worth examining, and he or she can provide you with a prospectus that outlines the features, fees and management practices associated with each of them.

For a free kit (which includes a brochure and prospectus) on hedging investment risk through an equity index annuity, call Travelers Life & Annuity at 1-800-842-9331. (Please read all prospectuses carefully before you invest or send money.)
AARP Tax-Aide volunteers will provide free tax assistance for older taxpayers of low to moderate income and low income taxpayers through the Tax-Aide/TCE program at several locations in both Fayette and Coweta counties.

The AARP is the nations largest free, volunteer-run tax preparation service available to all taxpayers with middle to low income with special attention to those 60 and older. The 31,000+ AARP Tax-Aide volunteers, trained in cooperation with the Internal Revenue Service, help over 1.5 million taxpayers file their federal, state and local tax returns each year at over 10,000 AARP Tax-Aide sites.

Volunteers are tained to assist in filing basic tax forms, including the 1040, the 1040A, and the 1040EZ. Taxpayers with complex tax returns will be advised to seek professional tax assistance. AARP Tax-Aide started in 1968 when four volunteers helped older taxpayers complete their tax returns. Since 1980, the program has operated under a cooperative
agreement with the U.S. IRS as part of its Tax Counseling for the Elderly program.

The following locations will host the AARP tax assistance:

· The Newnan-Coweta Public Library located at 25 Hospital Road in Newnan, Feb. 3-April 14 from 9a .m.-1 p.m. on Wednesdays only.

· The Peachtree City United Methodist Churc located at 400 Windgate Road in Peachtree City, Feb. 1-April 12 from 10 a.m.-2 p.m. on Mondays only.

· The Prince of Peace Lutheran Church located at 257 Ga. Highway 314 in Fayetteville, Feb. 2-April 13 from 9 a.m.-1 p.m. on Tuesdays only.

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