Re: Savings in Wall Street and Dow 9,000
Quote:
Originally Posted by ALIPAC
Since when, in America, did the stock market become a place for a family's savings?
W
No you're absolutely right. Much of it is fear-mongering. I used to work for a brokerage.
Our brokers always adhered to the philosophy that you shouldn't have money in the stock market if you expected to need in in the next 5 years.
Retirees shouldn't have any retirement money by the time they retire. THey should be entirely in bonds and fixed income instruments.
Might I add that my old firm didn't lose any money when the junk bonds collapsed in the '80's, didn't have money invested in the tech sector, and also steered clear of the mortgages in the 2000's.