Wednesday, April 17, 2013
Seniors may need to be wary of stocks now
Money News and News Max have been reporting dire predictions of another stock market crash soon, claiming that Warren Buffett and other billionaires are dropping consumer-related stocks quickly.
The story might be of interest to retirees living on investments so here is the link.
The article links to a video of an “Aftershock Survival Summit”. Yes, it sounds like a come-on.
Reuters and Yahoo! reported that Gold is suddenly falling, as are “risk assets”, link.
My own financial planner recently had urged me to convert from a conservative portfolio to mostly bonds to many more stocks (25%). He doesn't like utilities and energy -- and I think there is an issue of social responsibility here, because utilities may be compelled to harden their grids against possible big solar storms and various other terror threats, reducing earnings. I think that retirees who have such stocks should learn about this issue and urge the companies to do what is right when they are shareholders.
The one thing retirees won’t (or shouldn't) invest in domestically is bitcoin. It seems to be undergoing “Skyfall”. Where it sounds useful is overseas among dissidents who need to cover their tracks. It’s popular with people under 30, perhaps. It’s a long way from the world of financial planning and retirement.
In the meantime, columnists like Michelle Singletary and Suze Orman try desperately to get middle agers to take retirement planning and saving seriously.