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How the Recession Changed Retirement Planning

How the Recession Changed Retirement Planning

The Great Recession was a game changer in many ways, including retirement planning. Some long standing rules and traditions became obsolete and others held true. What lessons did the Great Recession teach about retirement planning that will help future retirees?

A house is not a retirement strategy

“Real estate has seen a significant shift. Before, many seniors were thinking of their homes as investments they could sell in retirement. Now, many have found out the hard way that a home is not a retirement strategy,” says Dan White, a financial advisor with Dan White and Associates. That said though, making smart choices about where and how you live in retirement can go a long way toward securing your golden years, he says.

Retiring at 65 is not a given

There has certainly been a change in the perception of the retirement age. In the 1990s, the buzzwords were “early retirement”, while today, more and more people are moving from full-time to part-time work, stepping back gradually. Others are delaying retirement altogether. While the old model of retiring at 65 was certainly appealing, there are many advantages to working later in life, especially if it's on your own terms, says White. “Seniors can benefit financially from delaying social security and individually from ongoing pursuits that keep them engaged and fulfilled,” says White.

Risk reins

The main difference right now are people's anxieties, says Grant Moore, a financial advisor at Savant Capital Management. After living through 2007-2009, many investors are on edge, watching all the various market commentary and reading about the global economy in an effort to protect themselves going forward, he says. “This anxiety is causing volatility in the equity markets. In addition, if you look at company valuations, on average, most of the global indices are still undervalued,” he says. This is another sign, he says, that although there are opportunities for investment gains, many folks simply hope to sleep at night and are hoarding more cash than they previously have.

Annuities look pretty good now

There's one word that comes to mind that sums out how retirement planning has changed since the Great Recession, “guarantee,” says Roy Laux, president of Synergy Financial Services. If it's not guaranteed, then it should not be the basis of the guaranteed fixed income clients need to pay their monthly expenses and deal with future inflationary considerations as well, he says. How one accomplishes this is where things are now different for retirees today; and that may be the most important key to successful retirement planning, he adds.

“Incorporating lifetime benefit provisions that adjust to inflation and provide income based on both spouse's life expectancies has evolved to a point stronger than at any other time in my 30 years in this industry. Many are now singing the advantages of income planning using annuities. There are riders available to guarantee income regardless of longevity,” says Laux.

There is indeed a big focus on retirement income. “In the past, people were more focused on the wealth building aspects of their portfolio. More than ever, especially for people approaching their 60s, they want to know how they can create sustainable income for the period they are retired,” says Michael Fliegelman, a financial advisor with Strategic Wealth Advisors Network. Income needs to be generated in spite of the low interest rate environment and to be protected against eroding factors such as increased taxes, inflation, health care costs, and market volatility, says Fliegelman.

Four percent isn't a magic number

“How about the 4% rule that said you can safely withdraw 4% of your assets annually, adjusting the amount upward for inflation every year?” asks James Poe, founder of Texas Retirement Specialists. “That one died when the stock market crashed 40% in 2008 alone. If you took 4% out of a declining account long enough, you saw your account fall by that 40%, plus the amount of your withdrawal,” says Poe. That rule didn't quite work out.

What now?

Okay, so now that many axioms have been upended, and the game has changed, what steps should you take? Moore's advice remains the same as before the Great Recession. “Have a sound investment strategy, which is globally diversified across equities, fixed income, REITs and commodities. Those investors who determine a sound investment strategy based on their risk tolerance and cash flow needs will be much better positioned to weather any future bear markets,” says Moore.

The biggest mental change that needs to be made for many people, he says, is that for virtually all investors, their nest egg has a long-term horizon and should be invested accordingly. “Paying too much attention to the day-to-day 'noise' surrounding the financial markets and making investments based on emotions is a recipe for disaster.”

Poe advises searching for “non correlated” assets. Those are things that don't rise and fall with the markets. He suggests things such as Master Limited Partnerships (MLPs). These are companies who own the buried pipelines and associated equipment that move gas and oil from the well to the terminal. “They are essentially, toll takers on the gas and oil highways. They should be unaffected by the price of the minerals because they just charge to move them through their pipes. The index of the biggest MLPs is MLPL. Check them out,” he says.

He also says to consider non traded public REITs. These are Real Estate Investment Trusts that buy commercial property, shopping malls, medical offices, data centers and the like. They earn rental income, which is paid out to the investor as dividends. “You can expect a capital gain from many of them when they resell their holdings. Non traded looks like no volatility because these holdings are not being pushed around by speculators and momentum players.” Says Gail Cunningham, a spokeswoman for the National Foundation for Credit Counseling, “People previously took advice blindly. Now they take it with eyes wide open, that's a very positive difference. The reality of being in charge of your financial destiny may feel uncomfortable at first, but it's where you are whether you know it or not, as not making a financial decision is actually making a decision.”

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Anonymous   |     |   Comment #1
I think every few years these "retirement specialists" change the rules on what to do. Each idea is the way to go until they find out it didn't work. 

This is what has worked for us.  We were able work until we were debt free. Before we retired we decided to buy a new home no matter how small to make sure we would have no major repairs for a few years. We chose to live as close to kids, doctors, and grocery stores as we could get, or you can buy a condo if you don't like outside maintence or lawn care, and I have always driven the car until it is almost to the point of not being safe. Every car I have ever owned has been between 10 and 15 years old before I purchased new one. We never had a car payment after the first car 52 years ago because we kept putting that money away so we could pay cash for the next one or for repairs if it was needed. I don't believe in buying someone elses problems with a used car. For us it has been much cheaper to buy a new vehicle and get all scheduled maintenences done. 

 Buy food and other things only on sale and stock up. Live on a budget. We have lived like this for 52 years and it got us throught the many layoffs throughout the years of our married life and we were  able to live on SS alone when we retired and still have money left over. Now being a widow, I am able to live on SS alone and put my RMD, and small pension in savings so when I want or need extra it is there. I use it for gifting to the kids and will have plenty for a new car, roof or anything else I might need in a few years. Also it can fund  a nursing home stay, or pay someone to move in and help me if that is needed. I would never ever get into the market. I will never trust them. If companies with their professional money managers cannot manage pensions plans how can we the workers (who are not professionals) do it. When I need a doctor I don't read a book and think I can cure  myself or do a medical proceedure. I go to the specialists. I think the 401k plans are an idea that did not pass  common sense and was an idea that failed. We both had 401K plans but invested only in the high interest account that had a guaranteed interest that was changed each year. That interest compounded and not paying taxes on its deferred income worked best for us. I would rather have slow growth and not the ups and downs of the market. That is why I like this website so much. IT IS THE BEST THERE IS. THANKS KEN!!! We cannot thank you enough for providing us with the highest interest rates so we can make common sense choices. 
Anonymous   |     |   Comment #2
outtempster   |     |   Comment #3
Yes, #1 is definitely a wise women. And I like what she said (from what she saw over the long years): these "retirement specialists" change the rules on what to do. Each idea is the way to go until they find out it didn't work.

Even now the retirement funds (such as retirement 2035, 2045, etc) still models 55-65% in stocks by age of 65. you still have 35% stocks by the age of 95 (if you live that long). If another stock market crash like 2008 happens when you are 65... Well, I think that's how they make money right? If everyone put their money in CDs, how does those money manager or wall street people make money?
ytytytyt   |     |   Comment #4


Dear Ms Nance-Nash,

This time around the article you've cobbled together by the usual "who says what" appears to offer somewhat reasonable recommendations!

... Indeed ... both MLPs and REITs have less co-relation to some of the major market indices (viz S&P 500 and MSCI EAFE).  ... The dividend income produced by many of the REITs and MLPs makes them rather attractive.  In addition to these, I also like the Utilities that offer Garbage/Recycle, Water, and Electrical services.  (I tend to exlude the telecomminications Utilities).

One of the stocks I like is WM (Waste Management). It has offered steady dividends for quite a few years. Performance of the stock is not bad either.

Yours Truly,
- Anon
ytytytyt   |     |   Comment #5


Dear #1,

>> I think the 401k plans are an idea that did not pass
>> common sense and was an idea that failed.

Perhaps your experience is not all that great with 401(k). 

(1) Many get "employer match" which after vesting, is the proverbial "free money". 

(2) The tax-deferred nature of the 401(k) saves of the current taxes.

(3) After the employee leaves the employer the assets in the 401(k) become available for rolling over to a "Rollover IRA", which may be used to trade the securities of one's choice and generate even more tax-deferred profits.

I'll have to disagree with you ... Many have a very satisfactory/rewarding experience with their 401(k) plans!

Yours Truly,
- Anon
ytytytyt   |     |   Comment #6


Dear outtempster,

The way "they" make money is not as simplistic as you are indicating.  The pros surely can (and do) manage money to generate decent profits in a way that involves picking the profitable opportunities, that more than make-up for any losing ones "they" pick.

Let me cite a famous person. His name is Mr Willard Romney.  He (and his associates) are/were very smart/sharp who picked great opportunities.  (In case you are wodering, Mr Willard Romney, also was a Presidential Candidate for election held in 2012.)

Another famous person is Mr Warren Buffet.  He too is a very smart/sharp individual and would harldly care if people are putting their assets in CDs (or under their mattresses).  There are many people who have profited from his skill for last few years/decades way more than the CDs ever would!

... So ... many of the money managers and wall street people make money, by their skills, by their smarts, by their talent!

Yours Truly,
- Anon
Anonymous   |     |   Comment #7
TO  #5

We did have a lot of money in our 401K plans and our IRA's. My husband's 401K was started in 1987  and mine in 1995 and each of us were allowed to save 20% in the plan and each were funded  100% every year.  We also had IRA's since 1979 and funded them 100% each year, even for the 10 years they were  not a tax deduction.  I had 100% matching to 6% and my husband had none. We were in fixed income in both our IRA's (CD's) and 401k's (the high interest savings) and did just fine. So many of our friends retired in and around 2000 when all the advisors were telling their clients to take a cash out. When you die you will have nothing to leave your children if you buy an annuity. When you retire take that special trip that you always wanted, or buy that truck you always wanted, or build that kitchen you always wanted, add that room on to your home. You deserve it. Pay for it with a Home Equity loan. It is a smart decision. They told them taking 6% out a year was just fine. You will have plenty to leave your children.  Remember the book "DOW 30,000"? This was just another perfect plan these "advisors" were telling their clients. It was a perfect plan until it wasn't a perfect plan. Then came the 2 crashes.  We did just fine, we gifted to our children every year and I still do. It is the people that listened to these "financial advisors" that are not doing so good and most have nothing left. Most have NO SAVINGS AT ALL.  If you think you have a chance in the market when you are competing with multi-billion  dollar computers you are not thinking clearly. These stocks like Disney can change prices 30,000 times a second. You are competing with computers for a fraction of a penny several times a second. Guess whose buy and sell order will win out in that second? 

Anonymous   |     |   Comment #8
To #6. 

I was under the impression these guys bought companies not stock. 
Shorebreak   |     |   Comment #9
Retirement planning?

“The best laid plans of mice and men often go awry."
-Robert Burns
ytytytyt   |     |   Comment #10


Dear #7 & #1,

I suspect your previous comment about 401k plans being something that defies common sense thus has failed, contradicts with your personal experience of such plans being something that has rewarded you.

>> It is the people that listened to these "financial advisors" that
>> are not doing so good and most have nothing left. Most have NO SAVINGS AT ALL

OMG ... Is that real or something that you are imagining? ... Do you have hard-evidence in your possetion to make such an assetion in  capital letters?  :-) ... I guess it will take a massive data-gathering and number-crunching to (a) Know who are the people that listened to the "financial advisors",  (b) determine how they are doing, (c) how much have they left, and (d) ascertain that they have have NO SAVINGS AT ALL. ... If you personally do not possess any such evidence, and cannot present it, then that's quite all right, but can you (and will you) cite some reputable sources who support the assetion you're making?

>> If you think you have a chance in the market when you are competing
>> with multi-billion  dollar computers you are not thinking clearly.

Alas ... If you are indicating that the marketplace is merely a race-cource where the human are competing against the multi-billion dollar computers ... then you are oh so mistaken ... on different counts.

Count# 1 Let me start with something simple. The price of the computers involved.  Even the Super Computers the types that are used to (say) control mission-to-mars, perform weather-pattern-simulation of global scale, perform real-enough-time facial-recognition on passengers passing thru the immigration, which are made by IMB, HP, former Cray/SGI ... cost around 100 million to 500 million.  The computers used for implementing "high-frequency" trading are less pricy. So actually we have not yet seen a super-coumputer that costs a billion, let alone "multi-billion" one used to conduct trading for "high frequency" trading houses.  I guess you are mistaken.

Count# 2 Something a bit more complicated.  The competiion in the marketplace is among vast number of different participants.  Some with little to no experience who are just starting, some with several years of experience.  And each with his/her/their unique set of skills/talent/tools. There are instututes, pension-funds, high-fidelity traders, individual traders of varying skills, and (so called) investors.  All are competing with everyone else directly or in-directly.  So you are mistaken if you believe that this is a race between humans and computers.

I suspect you are using exaggeration that is actually having the opposite effect than what you are intending.  (If you write that you know of some who have suffered losses because they relied on financial advisors, then that would be believable, rather than something outrageous like what you stated in capital letters!)

Yours Truly,
- Anon
ytytytyt   |     |   Comment #11


Dear #8,

Actually you are under wrong impression.  When those guys buy a publicly traded company, they buy stock (common and/or perferred) of the company in order to "acquire" it (outright or in steps).

Yours Truly,
- Anon
Anonymous   |     |   Comment #12
Labor economist Teresa Ghilarducci and others have described "401(k)s and related plans as a failed experiment." (Article in Financial Times) In an article on Motely Fool -"To put this more clearly, most investors do not understand such fundamental notions as compound interest and inflation. Notice that we're talking here about investors, not the general public." 

Many that retired in the late 1990's and early 2000's and were in the market are not doing well at all now and several are back to work or trying to get back to work and several have lost most or all of their retirement money and I know of some who have gone bankrupt because they listened to these financial investors.  Many of us in CD's have doubled our money during the last few years. Many of us still have CD's earning 6 1/4% for another year or so. We now have more than enough to get through our retirement. 

No I am not wrong about people giving their money to investors and being broke or about about broke now. I have a retired brother-in-law who lost his money and now is  living on my sister's retirement who did not take a cashout and put her 401K in CD's, and on the other side of the family my sister-in-law's husband lost his money with the same LARGE INVESTMENT FIRM IN OUR CITY. (BEEN IN BUSINESS NEARLY 55 YEARS) Many of my sister's co-workers who retired or were severenced by a large drug company in our town and took cashouts and invested with this firm or other firms are now broke or have little left and one family actually filed for bankrupctcy. Both of them retired from this drug company  and took cashouts with their pensions and invested with this same firm. Another sister-in law has several friends who invested with this HUGE FIRM and are in trouble now and two of them have no money left after the last crash. This was the same firm who said a 6% withdrawal was safe in the late 90's and early 2000's and did not suggest a smaller amount when the market went down because the market always recovers and then the second crash. When you are retiring and 2 crashes happen your investments do not have time to recover even though the your investments are now (another new idea) in long term and short term and medium term buckets and the current 5 year bucket.  These people took what money they had left from their 401K and invested to heavily in stocks at the suggestion of this firm. They listened to these investors who were more interested in their commissions than in helping their clients. They left the decisions to these investors and trusted their choices and what they were told. They told them to take a HE loan buy yourself something you have always wanted. Reward yourself after all these years of work, you have steady income now and you don't need an emergency fund you have a credit card to use in an emergency. I just know that those of us who retired in the the late 1990's and early 2000's and were in CD's only are a lot better off than those that were in the market. 

Maybe you are right about multi-million dollar computers not multi-billion dollar computers but I thought the 60 minutes CNBC program said they cost billions with the algorithms and the people to maintain the programs. I forgot the cost of the electric to use them. These computers are actually rented out in New York and the computers in the same building that are closer to Wall Street's computers actually get the info quicker by a fractions of a second.  One of the last crashes was caused by a algorithm written into a computer causing a huge sell off. A Financial Times article wrote that Morgan Stanley stated that 84% of trades were now done by these computers. 

I was a twp treasure for 23 years and worked in a bank for 30 years. After the Orange County mess I was actually asked to help our county (in another state) write an outline for investments and was on a committee writing examples for boards to protect themselves and to help write proceedures to verify that treasurers were in safe investments, and not getting kickbacks. Orange County was a wake up call for all boards. 

I think a lot of this has to do with when you retire and how the market is when you retire and for the first years after retirement. When it is your money and not in a big pool as in a pension fund you have less chance to recover when you are taking withdrawals. I am very happy with  my circumstances and those that have done as I have are content also. I helped my mom (a widow) who worked in a grocery store and she was in CD's only and died with a middle 6 figure estate and I am able to give my share of the inheritance to the food bank that was her favorite charity. 

We each have our own story. I know what worked for the township that I worked for, what worked and did not work for the familly members and what happened to those that were in the market and out  of the market and know that we all retired within a 10 year timespan.  The friends of my relatives that stayed in the stocks did not do good at all. I live on SS by choice and have plenty. Others cannot manage money especially with debt and are in trouble.

My thoughts are that those in 401K's should be in fixed income where the money will be taxed at the top rate (unless a Roth) and if you want to be in the market it should be outside of deferred investments so that you can at least get help at tax time with the losses. 

This is what has worked and not worked for my friends and family and acquaintences. Circumstances are different for all and what has worked for us may not be your cup of tea. 

My husband through his employment was chairman of the pension fund and the health and welfare fund and it did fine until he was put on disability in 1995 after a car accident. Now like many pension funds it is not 100% funded because they changed their investment policies and were too heavily into stocks. In the past the fund had been overfunded and they actually wrote checks to the retirees at the end of the year. Pensions by law could not be over funded. I think the figure was you could not be over 120% overfunded. Sounds impossible in this day and age doesn't it. 
ytyt   |     |   Comment #13


Dear #12,

Okay. I guess you are backtracking the earlier all-encompassing statments. When you write "most" I'd expect that such assetion be backed by massive real-life data.  Now you are writing something that appears way too small/local/anecdotal than the pervious "most".  :=)  ... Which is fine!

Also now you are admiting that the computer price is in millions rather than multi-billion. These zeros in billions make a rather large difference ... you know!   ;-)

To my pervious counts about why you are wrong, I'll add two more counts!

Count# 3:  There are many products which do not require hyperfast computers to execute trades!  For example there are thousands of Mutual Funds, which are traded at the end-of-day.  One has luxury of entring the trade at leisure.  Most of the times about 24 hours are available to enter the trade. And even a basic (even outdated) computer will work just fine to enter such a trade and obtain the exeution.  (Many of the public libraries offer sufficient infra-structure to perform this.)  And then there are Structured CD/Notes. To buy the new issues one has not merely 24 hours, but often times days and weeks!  So the response time of the compter is almost a non-issue.  Even a dial-up connection will be sufficient!  :-)

Count #4: There are lots of techniques that do not depend upon quick trading, but rather on limit/bracket orders.  Once again, one can enter the orders and wait till s/he gets a fill. No rush, no hurry at all.

Bottom line - I'm glad to see that you are making reasonable/belivable statements now, which are in cotrast your pervious outrageous statements!

Yours Truly,
- Anon
Anonymous   |     |   Comment #14
We will never agree. I said several had lost all or most. Comprehension??   You can compete with these computers that do 1 billion trades a day or did 3 years ago when they did 70% of the trades. It is up to 84% now according to Morgan Stanley, one of the owners of a super computer. They cost over 250 million each, use 7 million in energy costs a year, and then add the maintence, the quants, etc and you are nearing 1 billion a year according to this article and they are still making money. The multi billion was evidently used as an total of the costs of the computers at that time or of the total cost of one computer with the maintence and the hiring of the quants etc, or the cost of just the computers in the 80 centers that contained the computers 3 years ago when the article was written.   The stock exchange has now built 2 centers and now renting these computers out trying to compete with Goldman and the others that own these super computers. You make your money challenging the computers. I will trust Ken and sleep nights. When you have your minimum of 1 million of extra money to invest you can give your money to Goldman or Morgan Stanley and let the computers play with your money. My million is in CD's. I like the power of compounding. 

I did trade the stock that was the match in my 401K plan about 5 minutes to 4 for several months in 2008 when the market was so crazy.  You knew what the stock was doing that day and bought or sold on the price. The trade was always executed.  But I did receive a letter (mailed to my home)  of complaint saying the 401K was not meant to have employees put in a trade 4 minutes before the close everyday. I replied than change the SPD and put a stop to daily trades but they did not. I also had a sell order in my stock options and on the last day of my contract about 10 minutes before it expired the stock reached that price in a quick $13 spike. My sell order was not exercised. I complained, had proof of my sell order of the options and was told someone was ahead of me. Ya right. So my contract was made at 9 am on a certain day and 10 minutes before the 180 day contract expired and someone was ahead of me with the same price on a sell order? I did get the sale price on another order a few days later. Was able to sell the stock options on another spike before the option contract expired. In fact I shared my experience and letter with others in my office before I retired and others started to do it. Yes I know how the game is played and don't like it. 

Anonymous   |     |   Comment #16
630% profit with company stock in about 4 months in 2008 was enough for me. But it was not investing it was beating the system and a sure thing.  Like I said I had my co-workers doing it also before I retired that Sept. It was not trading. It was not investing. It was looking to see if the stock was down and buying and waiting a day or two to sell it when the price was up by 20% to 30%. You can really make money in the market when it is volatile if that is your goal. Do you remember financials in 2008? Did you think it was a coincidence that when the stock was added to your 401K account by your company it was the day the stock was down on that Thursday or Friday. If you knew where to look for you could see in your account if the stock was going to be added that day before or after hours or the next day before or after hours or for some unknown reason not until Monday and made trades with that information. You really made money when everything was in your GIC account for the weekend and made that 5 to 6% APY for those 2 or 3 days instead of nothing in stocks.  Maybe if you work for a company that makes money by doing the trades in house you can do this also. Stocks do not make or did not make anything on the weekend in our accounts so if you could arrange to put 100% of the money in your fixed GIC account to make money for the 3 days either Friday, Sat and Sunday  or Sat Sunday and Monday during every weekend it was a winner and if you wanted you made a trade on Monday. It was like the days when your credit union savings account paid interest for the month if money was posted in your account by the 10th of the month. So you could time  a check or checks from your checking account so that it would be deposited in other savings accounts before the 10th but not taken out of the checking account until after the 10th and could make the transfer to checking and got interest for the month in all your accounts for the same money.  Anyone could do what I did at work or could do this at my place of employment in 2008. You might try it in your 401K plan if you can do trades daily. But it is not investing. It is taking free money. Same as in the late 90's you could do nothing and make 20 to 40% a year.  My mind is more analytical and likes reason or problem solving. The market is not now a place to be for me. I am not an investor or gambler but a saver. I get more pleasure in doing things for others or trying to solve a problem. By the time you get the information most everyone that matters has had it for too long and the rest is for bottom feeders as they call us. You are making the crumbs that was left. One of the quants bragged that they made money every day for four years in a row doing a minimum of 4 million trades a day in only 4500 stocks. I like to read a balance sheet, read about the company. I would get more pleasure in writing these programs with the quants or like I did at work finding a way into my account and beating the system that way. It was a sure winner. As far as commodities or metal I have coins that I have saved throughout the years and you know silver is down. My friend that owns a coin shop offered me $40,000 for it. I will leave it to the kids. I do not want the money I enjoy giving and making others happy. I just save to maintain and it gives me pleasure to help others. The same we did with our farm land we let people use it to grow their food and rented some of it to farmers who could not buy land. It paid the taxes on it and  it helped others.   

I am very grateful that we were born when we were and was able to do what we have done. But like I said there are many others my age who cannot do what I do in their retirement because they believed what they were told by those that make their living telling people what to do. Common sense and doing what is right for you is the only way to win. Everything works until it fails. Perhaps mine will fail also. It has worked for over 70 years.  I am content and happy and thanks to Ken he has helped many of us.

Now afer 4 hours and 45 minutes with the Turbo Tax specialists and the IRS I can finish my taxes. Both were very helpful and full of solutions. Both were amazing in solving my issues that both said my problem was a first for them. This is a second time in 10 years we had a first with IRS.   
Robert   |     |   Comment #17
When my grand mother retired in 1979 I remember her saying she had saved up 100K in savings to last her the rest of her life.   The interest from a savings and loan was paying over 12.50 percent componded daily which was sufficient to live on the interest with her SS.    Today Im retired and have 4 times that amount and cannot even make 10K a year on the interest let alone the 1000K a month she was earning.

I keep hearing that when the employment rate goes below 6.5 percent then the Feds will start to raise interest rates ???  I am 67 now and its very depressing at my age to think about taking risks in the stock market which is apparently what the govt wants retirees to do as they artifically keep interest rates near zero with month  Billion Dollar QE bond purchaes

Maecl   |     |   Comment #19
#17:  I couldn't agree more.  My husband and I are your age and retired and we share your issues.  The income we get is depressing.
ytytytyt   |     |   Comment #18


Dear #16,

Wow ... That's a lot of words, in there! ... But no evidence to support earlier assertion of yours.

It is the people that listened to these "financial advisors" that are not doing
so good and most have nothing left. Most have NO SAVINGS AT ALL.


Me? ... Oh ... I have a real-life example that using "Structured Notes" gives the trader ample time to do what s/he needs to with even the basic computer and/or computer at his/her local library! Two posts at the thread below demonstrate it. ... So there is no need for human to race against the compter to get a fill for his/her order to buy a Structured Note.


Yours Truly,
- Anon
Anonymous   |     |   Comment #20
ytytytyt:  Don't forget to buy some more gold now that it has dropped more.
Anonymous   |     |   Comment #22
Planning ahead for an enjoyable retirement is an absolute must and is great to accomplish, just keep in mind the comment made in post #9!
Anonymous   |     |   Comment #23
Robert........Your grandmother was earning $100k a month on $100k prinicipal back in 1979? Wow, that is impressive! 
Anonymous   |     |   Comment #24
#23 - If you're going to nitpick, as usual, then at least try to get your numbers right.
Anonymous   |     |   Comment #25
If you had been reading Ken's postings you could still have CD's earning 6% and 6.25% for another 12 to 18 months. You would have IRA's that you could add to each year that are earning a lot more than the ones now. I am not buying gold. I sold it a year or two ago when it was almost $1900. I had jewelry I never wore and the kids didn't want it. I sold it and gave them the money. I remember in the early 80's when I worked in a bank selling CD's paying 15% for 15 years. 
Roush   |     |   Comment #26
Sorry to ask, Anon 25, but it's hard to tell if are you bragging, or complaining, or implying that you are a self-proclaimed investment guru, or what?  Your history  speech is wonderful for sure, but what do you recommend now, not in hindsite, but now? Anxiously waiting for your incite regards the future, as opposed to ancient and commonly known drivel.
Anonymous   |     |   Comment #27
To #26

I am not bragging, or pretending to know what is good for others. I am very content. I just am not a risk taker. I like to sleep nights. I do not like the unknown. I like to plan the things I can. I take care of the things and control what I can and don't worry about the things I have no control over.  I like certainity. I like to be precise in all of my planning. I don't know what is good for all. I only know what has worked for my family. I have always wanted to plan my income as much as I could and even now I actually have it planned out for the next several years even my taxes are figured out with todays laws for a few years out. Because I worked in a bank for 30 years and as a township treasurer for 23 years I was and am very exact and frugal with the money that belong to myself and to others. I have always taken the highest interest in my CD's no matter how long or short the term. This has worked for me. I could not and will not change my ways. Ken's site it a TREMENDOUS help for those that think as I do or even if they use this site for part of their savings. I think that in life in regards to money there is no power like the power of positive compounding. You do not have positive compounding when you are in the market. If the market goes down 50% and the next year it goes up 100% you still have the same amount you started with. I do not and cannot accept losses.  No one should give advise to others for their money.  IT IS YOUR CHOICE AND YOU HAVE TO MAKE YOUR OWN DECISIONS. No one has the perfect answer. So you can take responsibity for yourself. If you think others have a plan for you I believe you are mistaken.  I am not a person  who wants to hand over their money to someone else to experiment with or to try a new idea on what they  think  will be the best for me.  There is no person that knows what is good for another person. ONLY YOU DO. You do what you have to do to sleep nights.