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Essay / Research Paper Abstract
An 8 page paper that begins by reporting data about the proportion of persons between the ages of 50 and 70 who have been negatively affected by the downturn in the stock market. The writer then discusses why investors need good financial advisors. The faulty assumptions made by some financial planners and investors is explained. Asset allocation in uncertain times and volatile markets is discussed. Data included. Bibliography lists 6 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGfinadv.rtf
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Unformatted sample text from the term paper:
ages 50 and 70 who were stock owners. Seventy-seven percent of those interviewed said they had suffered significant stock losses since 2000. The data revealed these direct consequences for individuals:
* 1 percent lost over 75 percent (AARP, 2002). * 9 percent of those who lost money reported their investments had plummeted by more than 50 percent (AARP, 2002). *
8 percent lost between 50 and 75 percent (AARP, 2002). * 54 percent reported losing between 25 and 50 percent (AARP, 2002). * 67 percent of those who had lost
money said they have to adopt a less comfortable lifestyle (AARP, 2002). * 59 percent said they had to budget more carefully (AARP, 2002). * 34 percent said they
would not take vacations (AARP, 2002). * 30 percent postponed major purchases (AARP, 2002). * 27 percent said the loss had already impacted or may impact their plans regarding work
and retirement (AARP, 2002). * 20 percent of those still working said they were postponing their plans to retire and 75 percent of this group had initially planned to retire
before age 65. Almost all of the still working people planned to retire before age 70 (AARP, 2002). * 33 percent of the retirees who lost money in stocks had
taken full- or part-time jobs (AARP, 2002). * 12 percent of those who lost money and who are not currently working said they may have to look for work in
the new future because of their losses (AARP, 2002). Boroson reported that one woman lost three-fourths of her $1 million dollar portfolio (February, 2003). Most of her assets were in
blue chip stocks she had inherited from her father and because of the inheritance, she could not bring herself to sell them even though her accountant had advised her repeatedly
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