Smart Money Tells Retirees Not To Be Frozen By Fears

Fear is keeping many retirees or soon-to-be retired people from making financial decisions according to a recently released study by Financal Engines  a California based investment advisory firm.

One common reaction to their financial fears: Retirees did nothing. “I really don’t have a financial plan,” said a 64-year-old retiree quoted in the report. Said one 60-year-old about his investing uncertainty: “Trying to shift stuff around at our age is scary. … If you make a mistake, we’re in a cardboard box eating dog food. I don’t have 20 years anymore.”

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