THE glERITAGE
osicA.kklece
However, Sheldon L. Rosenberg,
senior vice president of investments at
Robert W. Baird & Co., said he
believes that older Americans need
investments that pay at a steady inter-
est rate. He suggests money market
funds, U.S. Treasury bills, preferred
stock, municipal bonds and other
fi.:ed income investments.
"The money market at 4.5 percent
carries little risk. The others are fixed as
h, , Th as seven percent without a whole
lot of risk to them," said Rosenberg.
For the elderly, he recommends 75
percent of investments without a lot of
risk, or a group of fixed income invest-
ments; and 20 to 25 percent of invest-
ments that are growth oriented in a
very conservative way. With a group of
conservative stocks, such as utilities or
DOW Jones stocks, returns should aver-
age 12 percent a year.
"The elderly place growth lower
down on the list than other investors.
Thar's because most of the elderly like
to receive dividends or earn interest.
Many of them are living off their
vestments. Instead of having their
dividends reinvested, they would like
a steady stream of money coming to
them."
Rosenberg continued, "Younger
investors do not need the income. But
the retired need to supplement their
pension plans or Social Security."
Harold F. Rossen and Bill Messner
or Morgan Stanley Dean Witter
Reynolds, Inc., primarily specialize in
clients who use professional money
managers. That's because their clients
are usually individuals with a high net
worth who are retired or approaching
retirement.
With their longer life spans,
seniors' biggest worry is that they will
outlive their assets, said Rossen, the
senior vice president of investments.
• He and Messner, who is a first vice
president, usually recommend to their
elderly clients that they keep a ratio
or 55 percent in equities and 45 per-
cent in fixed returns.
Both advisors join with Bernstein
and Rosenberg in passing along one
final set of recommendations to
investors:
Do not get emotional. Stay invested
in the market. Do not sell in the midst
of a decline. And above all, don't
panic. Stay with your game plan.
❑
Because Your Lifestyle Never Retires
NOW ACCEPTING DEPOSITS
The Heritage, a premier rental retirement community, for seniors will be opening
soon. We invite you to visit the information center and model apartment to learn
more about the many exceptional amenities and personal services available including:
• Fine Dining Services
• Spacious Studio, One-6
Two-Bedroom Apartments
• 24-Hour Concierge Service
• Housekeeping Service
• Scheduled Transportation
• Fitness and Exercise Programs
• Indoor Swimming Pool
• Individually Controlled
Air Conditioning and Heat
• On-Site Health Clinic
• Full Service Bank
CALL AND SCHEDULE A TOUR TODAY!
248-208-9393
THE HERITAGE, 25800 WEST ELEVEN MILE ROAD, SOUTHFIELD, MI 48304
Open weekdays 8:30A/v1-5:30Pm, Saturday & Sunday Noon-4PM.
Please Phone to Schedule Evening Appointments
❑ Please send me information on The Heritage.
❑ Please contact me to arrange a tour of the information center and model apartment.
NAME:
ADDRESS:
CITY, STATE, ZIP CODE:
PHONE:
Mail to: The Heritage, 25800 West Eleven Mile Road, Southfield, MI 48304
Eorp",;R".,°,'„,17?, The Heritage provides equal housing opportunities to all individuals 62 years of age or older.
JN 12/98
Detroit Jewish News
25
1998
L15