Me Worry?

Some seniors worry about money. A lot. Others couldn’t care less (either they have huge amounts or nothing to worry about). Most of us are somewhere between. There are of course seniors who are extremely well-to-do and think of only two things: to not lose what they have and to accumulate more. Tough way to live, isn’t it?

Some of us get financial magazines or journals to keep tab on what is going on in the financial world. We soon find out that finances are more than balancing budgets or playing the market. World affairs, the weather and numerous other factors affect finance. And understandably so.

From time to time (too often at times) financial promotional pieces invade our computers or hit the mail box. This particular senior moment hit me with the realization that many of these missives accentuate the negative in order to extol the positive. But I guess that is part of the social order of the day.

The new media seem to glory (if that is the proper expression) in scoops that make headlines. Many of these are negative. Accidents, murders, horrors of war, scandals and the like make news. Good deeds too often end up on the floor or are submerged on later pages.

Back to economic advice. Let me illustrate with a piece the postman delivered. Twenty-four pages. The first part extolled the bad news: HOW THE MIDDLE EAST TURMOIL IS LEADING TO . . .THE FALL AND COLLAPSE OF THE U.S. ECONOMY. Here is what we are to expect: some of the surprising forecasts:

1. Wages will go down by 50%.
2. The dollar will lose half its value in the next 18 months.
3. The housing bubble is about to burst leaving millions homeless.
4. Interest rates will rise, disrupting the stock market . . .
5. The Dow will plunge to 4,000 or less.
6. The foreign trade deficit is skyrocketing out of control . . .

Did this frighten me enough to invest $175.00 for a two-year subscription with several bonus reports? Hardly. It did, however, affect me enough to pen this column. In short, the good news was to buy gold, his way, within one month or it will be too late.

High pressure? I don’t like high pressure salesman any more than the next person, nor do I like scare tactics.

Now, this gentleman might be on the right track. The Dow may slide, the foreign trade deficit is sobering and those poor souls who buy homes with nothing down and pay only interest on non-fixed loans may be in for a rude awakening. And we have seen the unemployed become underemployed, thankful for a job of any  kind. Life can be sobering if not downright scary at times.

Living in a constant state of dread is an overwhelming negative senior moment. We should take precautions, use our heads, absorb sensible advice and live within our means. Some negative senior moments are inevitable but should never be nourished beyond reason