Las Vegas Sun

November 16, 2009

Currently: 40° | Complete forecast | Log in

Letter: Retirement investments too risky for Social Security

Wednesday, Feb. 5, 1997 | 11:59 a.m.

My intent was to vehemently protest that my Social Security be "invested" in the stock market. What others do is no concern of mine.

Let's take a local casino whose stock was sold for about $10. Now, after a short period of time, it is worth about $1. This is about 10 cents on the dollar. Just suppose that all my Social Security was "invested" in this stock. It would be difficult to convince the landlady to take 10 cents on the dollar for her rent. This is an isolated incident.

About 20 years ago the state of Oregon invested some state funds in the market for several years. They were successful in buying professional managed diversified stocks. Then the market ruptured and their stocks were almost worthless.

Oregon got out of the gambling business.

Dan Barton

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 16 Mon
  • 17 Tue
  • 18 Wed
  • 19 Thu
  • 20 Fri