CHARLOTTE, N.C. -- "It makes you scared of what's happening," said Bob MacMartin as he and other retirees discussed this week's turmoil on Wall Street.
Most of those who gathered for lunch Friday at the Senior Center on Tyvola Road count on their 401K plans and other investment for their retirement income.
MacMartin said 80 percent of his retirement income is from his investments, and he is not sure if he should leave his stocks where they are or sell them and come up with a new strategy.
"You know, it is a tough decision, especially when you get up in age like me," he said.
"There is no reason to panic and run," said UNC Charlotte economics professor Tony Plath.
Plath said he understands the concerns of retirees, but says he thinks they should not do anything rash with their investments.
Plath says overall the economy is getting better but he warns younger investors that stocks may no longer be the promised gateway to an early retirement.
"The rate of return we are seeing in stocks is significantly less than it was over the course of the last decade, and we've all been hit in terms of reduction in wealth," Plath said.
Some retirees like Dean Sprehe are tweaking their investment plans a bit. Sprehe says he used to reinvest the dividend checks his investments earned.
"Right now I am holding on to these dividends because you don't know what to reinvest in," he said.
