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yup... "Hold on" works best for the young and wealthy ..if you're trying to live on your investments, the market looks VERY scary.

I too have noticed that. Actual retiree advice has been like "well, good luck". I have heard about the idea to let retirees not sell to pay their MRDs. But I don't think that has been actually put into place. Hopefully, it will apply to everyone over age 70.

I pay someone to invest for me because after 911, I freaked and sold almost everything, losing $100,000 and the market bounced back quickly. Just my luck, my investment mgr dies and now the son has my portfolios. Everything was going well until last December. He made some risky investments for me and in the Spring I started making noises that I thought I was overweighted in equities. Instead of buying new bonds/CD's when they came due, he would buy more stock. You can see where this is going.

When my statement came, I was down 17% 12/07 to 9/30/08, not awful, but more than I could deal with and the loss was substantial. Finally last week I decided to get out of all my No Load Fidelity funds as they just mirrored much of what I had in stocks. All sold at a loss. But now I think I am 47% cash/bonds. All of my equities give dividends which will go into the cash pile.

I think I can live with this, unless the market keeps up the free fall and my bonds turn into total junk. You know, if I had just kept all the money that I had in cash/bonds right after 9/11, I would have a lot more money right now. Makes you think.

BTW, all the retirees I asked about their opinion on the market said they were not invested in stocks at all!

Too bad we don't have crystal balls

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