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To: dalroi who wrote (44550)	1/15/2006 5:00:06 PM
From: John Carragher	Read Replies (2) \| Respond to 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.

To: dalroi who wrote (44550)	1/15/2006 5:22:42 PM
From: LLCF	Respond to of 116555

<Problem is that most people cant do it by themselves> Actually I think it makes more sense for the individual to pick who is going run the money than trusting the company to do it. In fact, companies have essentially defaulted on all sorts of elderly... sadly. There are dozens of quality companies running retirement plans. DAK

To: dalroi who wrote (44550)	1/16/2006 3:42:40 AM
From: shades	Respond to of 116555

Problem is that most people cant do it by themselves hehe - well they have their buddies at morgan stanley and such eh? who made 30 Billion in bonuses for 2005 - what some would call excessive for the utility they provided - a full 40 basis points of our gdp Havent you seen all the commercials where your advisor is sitting on the beach with you showing you how to buy that dream beach house when you retire? My uncle was told by his raymond james advisor 2 years ago to buy an annuity - the agent (ahem registered investment advisor) was going to make 15% on that product - locking him in until 2032 - he wont live nearly that long - justice worked out in the end though - the agent died 2 months ago from cancer - I believe stress induced from all the lying. All the big houses have been hit with all kinds of corruption charges recently - but they are looking out for the little guy no? I remember some memo coming open where if you had less than 100K in your account you were basically put in the really crap stocks for them to unload when they wanted to get out of a stock. There are no conflict of interest are there?