Reply #19: Wow. You are spot on, and I am not surprised to

[truedelphi]

Find out that you are the first person the bank rep didn't have to explain the big picture to.

Why people found it acceptable to hand 4 to 9% of their paychecks over to the stock broker crowd, I have never understood.

(Slightly off subject) I work taking care of the elderly. Even fifteen years ago, the "Nursing home insurance account" people were telling my clients, "We am sorry but we are only gonna cover four months of your disability, long term care needs -- we are filing for bankruptcy and will be out of business soon.

Yet all around me, people I know have signed up with these types of accounts.

It is a great idea in theory - but I can't see how any insurer is gonna offer payouts to every Baby Boomer in the country who has one of these. After all, we saw with Katrina how the insurers close up shop the minute there are a flurry of claims.