WREX.com – Rockford’s News LeaderMore People Put off Retirement with Unstable Economy

More People Put off Retirement with Unstable Economy

By Dave Rivelli

ROCKFORD - George Mahoney, 85, points out that a portfolio of investments used to be called a briefcase.

But times have changed and now looking in his "briefcase", with the current economy, isn't a pleasant experience.

"You don't check it (portfolio) every day because it would be earth shattering but periodically I take a look at it then look at a calendar and say okay how many more years."

Those that are already retired are feeling the effects but it may be felt even more by those looking to retire in the near future.

A recent AARP Poll found one out of three workers may consider delaying retirement.

"They have to be having questions in the middle of the night about how long is it going to last or how long can I be here or any place," said Mahoney.

In addition one in five middle-aged workers stopped contributing to their retirement plans in the last year.

Investment broker Jeff Luedke says that might actually be a good idea.

"Would you sell your house right now when it's down 20 to 30 percent?" said Luedke, senior vice president of Investments at Stifel Nicolaus. "Probably not. Same thing in the stock market."

According to Luedke for those of us not near retirement the best thing to do is let time take its course.