This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Better Off 4 Years Later? A Mixed Bag Of Answers

Dreher says he and his wife have saved more in recent years, but being prudent and conservative has its limits.

"You can be responsible and be making progress in your own little world, but there are outside factors you can't control," he says. "You prepare for the worst, but you can only do so much."



For Linda Speaks, life in 2008 and now is a study in contrasts.

Four years ago, she had a steady job, a middle-class income and the comfort that comes with saving for retirement.

Today, she's in the middle of a long, frustrating search for work, her savings are gone and her unemployment benefits will soon expire.

When the tobacco company where she was an administrative assistant and events coordinator asked for retirement volunteers in late 2009, Speaks decided to leave. She figured it wouldn't be hard finding a job, considering her three-decade work history. Hundreds of resumes later, her search continues.

"At points, it's very depressing," she says. "It just invalidates 32 years of experience you thought would be of value to somebody at some point somewhere. ... I don't feel of worth to anyone."

At 57, Speaks wants to keep working. "I don't care to sit on the porch and rock my years away," she says. "I still have a lot to give. I'm organized and detail-oriented."

Speaks considered starting a small business in the Winston-Salem, N.C., area, and took some community college courses, but with the sagging economy, the timing seemed wrong. And with companies doing more with less, she says, "That leaves me on the outside. I can't get my foot in the door anywhere."

Speaks regularly attends meetings of Professionals in Transition, a support group for the jobless and underemployed.

Meanwhile, she and her husband, a mechanic, have tightened up their already frugal ways. No vacations, no big purchases â¿¿ the 12-year-old car they want to replace will have to do for now. "We've never, ever lived beyond our means," she says, "but now we don't have the luxury of savings. We've used every bit of income my husband brings in. In four years we've not added to anything, we've not improved anything."

7 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs