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Retired couple hit hard in 2008 made 2 changes to feel confident now - Business Insider

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Back then, the Statons had to start from square one on their retirement plan

After retirees Edd and Cynthia Staton were crushed by the stock market crash in 2008, they moved to affordable Cuenca, Ecuador.

If you have a story about how the stock market drop and coronavirus are impacting your retirement plans, email yourmoney@businessinsider.com. Edd and Cynthia Staton felt the effects of the stock market crash of 2008 acutely. This time, they feel much better prepared. Their retirement strategy relies more on cash savings and their Social Security benefits than the markets. "We are very minimally in the US stock market, and our investments are mainly centered here in Ecuador," Edd says. , or certificates of deposit, are a type of savings vehicle that locks up money for a certain period of time, generally ranging from a few months to a few years.

 

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