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Saving and Investing in the Current Economy

Wall Street took a serious whacking this week, and in light of the recent events investors are in a frenzy trying to predict the market's future. The New York Times personal finance columnist Ron Leiber discusses how to approach saving for the short and long term in his brief video below, and he brings up an interesting point about those nearing retirement possibly having to work longer or restructure their plans. Have your parents had to reconsider their retirement time line because of the current economy?

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thelorax thelorax 7 years
My parents have had retirement in mind for as long as I can remember! They've planned really well, and now that it's not far off, they're very well prepared.
mondaymoos mondaymoos 7 years
My dad was looking at retiring in two years, but they're going to have to re-plan now. A large chunk of their retirment savings was in the stock market, and they lost a lot. My mother won't be retiring anytime soon because she loves her job, but they had planned on moving to another state after that two years, and now that'll have to be postponed.
baybug baybug 7 years
I don't think my parents are thinking differently about their retirement.
ilanac13 ilanac13 7 years
i don't know if my parents are thinking too differently about their retirement, but i do know that they are all old enough to retire yet they are still working full time. i don't know if it's just the depression mentality that their parents instilled in them as they were growing up, but they are still working hard to make more money in the hopes that they will have more security when they stop working. for myself - i think that now i'm going to have to be more involved in understanding what's going on in the financial sector since there are so many things happening and i don't really understand how my investments are being affected. i do have some sense of peace seeing the earnings come out from morgan stanley yesterday - so i don't feel like they will collapse anytime soon like the other firms.
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