Retirees wiped out, lose millions: SEC (invested with KNI Investments)

[marble falls]

1. We're odd folks, we old. Never thought it would be possible to be so old and yet feel so good ...

When you approach 70 the object is to keep and protect the value. It's a nest egg, not an endowment to future generations.

People who've worked hard and scrimped and saved, who would never ever go to Vegas just to gamble, gamble on weather, war, stocks and bonds and with their personal wealth.

I gamble with my bookie, and I invest with a broker. Sometimes it's the same thing. The older you are, the more risk adverse you should become.



Though I just might take a plunge into cruise lines. I think they trimmed out the old boats and with decreased capacity they will be able to raise rates. And everything I hear says the demand will be crazy. Is that a risk or a gamble?