Yesterday Andrew Tobias' column included a question from one of his readers:
Lynn H.: “How About Some Financial Advice? Every day I read your blog hoping you have the magic answers for us, but you don’t say a word about investing. My husband and I are retirement age though he still works and we did all the so-called ‘right things’ over the years. So we have the house paid off and we have no debt and we have savings, but we lost a lot when the market crashed as we were a bit heavy in stock. Where do we put money now? My broker sure doesn’t know and wherever I turn, I see no good advice. My bonds, both corporate and muni, are down in value along with my stocks. Treasury stuff earns zilch and we need income. The only advice I see is for young people or for those in debt. I know we who have money are the lucky ones, but we're scared too. Reading about Madoff is enough to give anyone the willies, isn’t it?”To which he replied:
It is. Let me try to answer this tomorrow.Well, Lynn H. wasn't the only person interested in the answer to that question. Right now it seems you're doing great if you're just managing to hold on to your savings. How in the world do you actually make money in this market?
Hopefully, Lynn saw the humor in Tobias' answer this morning:
Hmmmm. Still thinking.That was the entire column.
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