What have you always wondered about the economy? Tell us
Who can you trust?

Here’s what I’m doing: Lita Powell-Drake

Marketplace Staff Oct 17, 2008
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Who can you trust?

Here’s what I’m doing: Lita Powell-Drake

Marketplace Staff Oct 17, 2008
HTML EMBED:
COPY

TEXT OF STORY

Kai Ryssdal: All throughout the program today we’ve been asking, what are you doing? Have you changed the way you saved or invested?

We’ve heard from a former labor secretary and a cartoon editor. Now we turn the mic over to a Marketplace Money listener for our series “Here’s What I’m Doing.”


Lita Powell-Drake: Hello. My name is Lita Powell-Drake, sometimes called “Lita of Lincoln” — that’s Nebraska of course — and here’s what I’m doing:

I’m senior, I’m a woman and I have no pension, so I really rely on my Social Security and I have a small income from a part-time job. Every Nebraskan listens to the “oracle of Omaha,” Warren Buffett, and he says only look at your portfolio once per year and so I’m taking his advice.

I am probably the most frugal of the frugals. I still save plastic bags and string, so therefore I’ve been OK. Last year I took a strong, hard look at my savings. I decided that yes, I could retire comfortably. Now, the bottom has fallen out.

I’ve heard about the economy going down, of course. it makes me a little concerned. However, philosophically speaking, and as Alfred P. Newman that other sage would say, What? Me worried?

Yes, I am worried.


Ryssdal: That was Lita Powell-Drake.

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