Of course I am not a risk taker when it comes to my investments. I stick to the sluggish good old fashioned Bank CD. It may only return 4.5% annually (which I am lucky enough to have locked in a couple years ago), but at least my money is moving in a
direction. I have also
contributed to my company's 401K program. The company didn't match from the very beginning. So I stayed away, depositing a fixed amount weekly into a money market account. I did have a portfolio with Wachovia for a few years and I took
losses after 911. When the market turned up a while after, I cashed out, investing in Govt Issued IBonds and Bank CDs. Boy am I glad I did. Not being particularly savy in terms of how the market works and long term investments, the fallout after 911 scared me sensible.
Sensible is good, sensible is safe. Slow and steady.
I can't fathom writing a check to an organization such as Madoff created.
Entrusting their entire life savings to him when past retirement age?
Talk about risk, I don't care who this guy was
(No matter how many words of praise Goldie Shapiro spouted)
they took that risk, small
as it may have seemed to them at the time.
They sure didn't expect the angle it hit them from but that is (in my opinion) irrelevant.
If you are not an FDIC insured bank or The US Treasury, I would not take that risk.
So I may not make millions overnight, but at the end of the day
I've still got my money, and then some....
The people I feel sorry for are those affected by Madoff unwillingly. The people who will (in the future) lose, such as those affected by the irresponsible
investment strategies of some of these foundations who are now bankrupt. I think there should be a curve in retribution toward these foundations when the day is done and madoff's assets are on the table.
But that's just me. Slow and steady.