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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: dalroi who wrote (44550)1/15/2006 5:00:06 PM
From: John Carragher  Read Replies (2) of 116555
 
the problem is unless these people get better financial advice they do not realize how much money then need in retirement. i have seen their kids relatives tell them to give them the money now not wait until they pass away.. or let's get the summer house in the woods or beach area now. or let get the new car.. or lets fix up the house. These suck out the base these people may really need for long term income in retirement years.

I also having done tax returns for elderly at senior centers saw how brokers flip the trades like crazy to make the commissions and have these people in high risk stocks.

pensions protect these type people and they should be encouraged to buy an annuity perhaps to lock in their savings otherwise they may blow it all.
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