Thursday, March 10, 2005

Musings 17....Ah, gambling investments...

Look at the photo. Would you want this guy investing your retirement monies.

one more time
Originally uploaded by andrax33.

This is similar to the way that Mr. President wants you to work with private accounts for social security. This dude in the picture lost $100 within 20 minutes. If you multiply that out to an hour ($300) and then to 8 hours ($2,400) you can see that maybe a trust fund with a fixed rate is safer.

In 1980 I started investing into an annuity. By year 2000 I had a value of around $40,000. When the market did a down turn and 9-1-1 happened my mutual fund annuity went to $18,000. Since my total investment had been about $15,000, I was still ahead of the game. I just got my statement for my fund this month and it is now worth $28,000. Give me another 5 years and I'll be back on track for that boat I've always wanted.

Hey everybody gets lucky, but what if the bad luck hits just before you are ready to retire. Zounds foiled again........


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