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The Macomb Daily, April 23, 2003 By Ben Lefebvre, Macomb Daily Special Writer Macomb Daily photo by Ray J. Skowronek Dan Casey wants senior citizens to watch their finances. To further this goal, he is launching his own monthly television show, "Senior Finances," dedicated to personal finance for investors over 60. The program will make its premiere 9 a.m. Thursday, on WADL TV 38. This isn't to say that 59-year-old youngsters won't find anything worth watching. "The focus is on retirees and those planning to retire," Casey said. "Seniors often get into financial plans that they don't need." He describes many seniors as being "surprised" when they find out how much money they're spending on fruitless strategies. The problem is that some people don't know the difference between "senior" finances and "normal" finances. Casey hopes to educate people. "Seniors should focus on asset preservation, not involvement in the stock market," he said. Austin Murphy, professor of finance at Oakland University, agreed with this reasoning. "The essential difference for typical seniors is that they have mostly net outflows that have to be financed from their investments," he said. "They generally are better off taking a less risky strategy." Both men agree that the main problem nowadays is interest rates. "Interest rates are so low it's sad," Casey says. For an age group that receives most of its money from savings, low interest rates can prove to be a liability. Murphy added another problem: anti-American sentiment resulting in the war on Iraq. "That negative sentiment could lower demand for U.S. goods, services and investments," he says, resulting in a substantial decline in the stock and bond prices. "Some restaurants in Europe are even pouring their Coca-Cola down the sewer," he said. Casey, who himself holds a degree in finance from Oakland University, has been in the business for 15 years. He started his own group, Casey Investment Services, two years ago, before changing its name to "Senior Plus" last year. The Mount Clemens organization has more than 400 accounts. Using the television show, Casey hopes to spread the word as much as possible. "Right now, it's just me" on the program, Casey said. After an initial show of mainly facts and figures, he's hoping to turn it into more of a call-in program, complete with guests and features. Visit the Web site www.seniorplus.org or call (586) 421-9777 for more information. ©The Macomb Daily 2003