On 2/20/2012 10:43 AM, Ed Pawlowski wrote:
On Mon, 20 Feb 2012 09:28:34 -0500, Frank
wrote:




This was also a guy that took homeowner loans so he could invest and was
constantly losing.

He's about 70 today, deathly ill and still working.

Ouch, that is so sad, but self inflicted it seems. I've been reading
about older people losing their homes because they can no longer
afford the mortgage. If you are over 65 or so, the mortgage should
have been paid off and you should be cruising along with no serious
debt.


Not all that sad. He could have gotten by but he's divorced and
somewhat of a loner and likes to work. He's an engineer with a
government agency where he could probably work until he dies.
With the illness he has, I'm surprised it hasn't happened yet.

I've also got a neighbor that says he lost $500,000 when he reinvested
his 401k. He's still well off.

When you're older it is not a good idea to put your savings in risky
investments.

If younger, like my kids, they are not depending on SS but socking as
much in low risk 401k's as they can.

I have an attitude that I worried about making my money but don't want
to worry about keeping my money.