Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Money in the bank hasn't helped retirees much

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 10:23 AM
Original message
Money in the bank hasn't helped retirees much
http://seattletimes.nwsource.com/html/businesstechnolog...

Bernice Rudick says she feels lucky she picked up a part-time job six years ago. If she weren't working now, the 83-year-old widow might be hurting even more after a bear market cracked her retirement nest egg.


"Everything's gone down," said Rudick, who answers the phones a few days a week at Plymouth (Mich.) Township Hall. She's particularly upset with lower dividend payouts and isn't interested any more in low-rate certificates of deposit.

As it is, she's cutting back on spending. One budget-trimming trick: She's stopped subscribing to some magazines, including Martha Stewart Living, Country Weekly and Southern Living. She enjoys cooking magazines but can't afford too many, now that low rates are paid on her savings.

"You start watching things a little bit closer," Rudick said.

For all the buzz about how cheap money can get consumers to buy homes and cars and boost economic growth, there is a flip side.

more

Printer Friendly | Permalink |  | Top
twilight Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 11:29 AM
Response to Original message
1. so many trying to live on the paltry dividends
Edited on Sun Sep-14-03 11:39 AM by twilight
and the lure in the great stock market which only a fool would invest their life savings in right now (or anytime for that matter).

I honestly feel for anyone in this situation. It is indeed disgusting as they harp "Recovery! Recovery" while the interest rates are so low it is a disgrace to those that have worked their whole lives and saved what they can!

:kick:
Printer Friendly | Permalink |  | Top
 
SuffragetteSal Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 11:32 AM
Response to Original message
2. these stories are going untold
for the most part it seems. My money is making 1.3% at the bank. I stay away from anything 'stock market' or not federally insured. These are scarey times and I am surprised we don't see people crying at the bank.
Printer Friendly | Permalink |  | Top
 
NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 11:34 AM
Response to Reply #2
3. Because Bush is using war and terrorism as smoke and mirrors...
Edited on Sun Sep-14-03 11:35 AM by NNN0LHI
...to hide the truth about the economy. All the while his friends are looting our treasury.

Don

Printer Friendly | Permalink |  | Top
 
Pale_Rider Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-14-03 03:48 PM
Response to Reply #3
4. The California surplus was only a test case ...
... for bigger things to come. The California surplus was transferred to Texas and the energy companies in what will be viewed by history as the greatest transfer of wealth from one state to another. Now, we will see possibly the greatest transfer of wealth from our national government to some of the richest individuals in this country. Hopefully more people will see this and stop it cold in 2004!
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Tue Sep 23rd 2014, 07:35 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC