NU Online News Service, July 31, 1:42 p.m. – Financial advisors are struggling these days to keep retirees' assets from sliding under the mattress.
The war on terror and corporate scandals have definitely affected retirees' attitudes, according to Richard English, a financial planner from Arlington, Texas.
"They're worried that this is going to go on and on and reflect on the financial markets," English says.
English has watched many of his clients retreat from stocks and put more assets in bonds, cash and other conservative vehicles.
But English and other advisors argue that the flight to safety could do many clients more harm than good. "Unless a person has to sell investments because they actually need the money, I wouldn't advise it," he says.
Hartman Axley, a Denver advisor, agrees on the need to stick with stocks.
