UTB Professor John Cook said the situation in Wall Street has affected him.
Retirement and 401K plans have lost many more than $2 trillion dollars in the past 15 months.
Many Rio Grande Valley residents approaching retirement are quickly looking for a way out of their plans before they lose more money.
Baby boomers and others are now considering through well through retirement.
UTB professor John Cook said he planned to retire at 66 but it's not looking good right now.
Cook says he's lost thousands of dollars as a result of the financial freefall on Wall Street.
He said the stock market is shaky now but will be stabilize in the long-term.
Wells Fargo’s corporate chief economist Eugenio Aleman urged Rio Grande Valley not to take any drastic measures that will only make matters worse.
Aleman said people watching their investments go down the drain do have options.
He suggests riding this out because the economy will eventually rebound from the $700 billion dollar economic bailout.
It's advice that's easy to say but difficult for some to swallow.
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