Kokomo Tribune; Kokomo, Indiana

Columns

October 5, 2013

RAY DAY: Keeping a little in reserve

(Continued)

There wasn’t too much money to work with back in the days of old, but many people back then remember the stock market crash. Even today, they are wary of these so-called get-rich schemes, where you may profit big windfalls of money through risky investments.

Many insurance companies will sell you insurance on your life so that your loved ones will be able to live through the days after you’re called Home. Do you know that as you reach old age, your rate gets higher? After a certain age, you don’t even have that life insurance, or it has dropped in worth.

What you need to do is check into these things before investing in them. Life will seem to get worse because of those who will try to bilk you of your savings.

Believe it or not, there are those out there who look for a new widow or widower, and smooth talk them into getting married so they can milk the savings down to nothing.

I know from living back in the old days that you have to be ready to do without sometimes so that you might save a little at a time. Reminds me of when Mom would put her potatoes on the table to peel, but she always left one not peeled. She said it was her way of saving something for the next day.

She always kept a handkerchief fastened with a safety pin on her dress pocket, where she kept some change. She said she would never be broke doing that.

I look back and then forward, so that I know where I have been and where I am going.

Ray “Uncle Ray” Day is a weekly contributor to the Kokomo Tribune. Contact him at uncleray@earthlink.net.

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