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October 10, 2008, 12:58 pm PDT
Retiree dilemma
Quote From: murray77Your show yesterday failed to talk about the millions of us who are already retired, who are 65 and above. It's no longer a question of not contributing to our IRA's. They've been set up. All of mine and that of most people I know in their 70's, 80's, and 90's have invested in mutual funds and annuities. I don't have a home because I'm physically unable to do the upkeep. My financial expert tells me to ride this out, although after your show, everyone else will have pullede out. Us retirees don't have years to wait for the market to come back, and your encouragement to pull out will affect millions of people. It's only 11:00 and we've dropped 300 points this morning. You've managed to reach a lot of people and drive that fear home for them. So the weakest, and the oldest will suffer, and won't be able to come back, and you helped. You make an excellent point. Encouraging people to pull out of the market is making this crisis worse. And guess who is out there buying up stocks in good companies for a song? People with lots of spare cash. Fortunes will be made off the terror of those least able to afford it.
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