Grandpas Go Gaga Over Facebook Stock?

An engineer, two doctors, and a business owner, all now retired, are sitting around at a retirement home. Up shoots the topic of the Facebook initial public offering, and the crew chatterboxes on how to wrest shares at the initial price.

An engineer, two doctors, and a business owner, all now retired, are sitting around at a retirement home. Up shoots the topic of the Facebook initial public offering, and the crew chatterboxes on how to wrest shares at the initial price.

No, this is not the beginning of a joke. A reporter at CNN Money tracked down a group of casual investors within the grandparent generation at a retirement home in Boynton Beach, Fla., to gauge their thoughts on the prospects of the Facebook IPO.

One, the former engineer, said the IPO was the hottest conversation topic spinning. His son is senior managing partner at IPO Boutique, a research firm in Lutz, Fla., so he is the resident go-to investments guru, the one with the connections (wink, wink). He, however, does not have a Facebook account.

Indeed, a mere 21 percent of adults older than 65 have Facebook accounts, compared with 81 percent of those aged 18 to 35, found a CNBC/AP poll released yesterday.

The poll of more than 1,000 adults in the U.S. also found that 39 percent of those 65 and older who were polled thought Facebook was a worthwhile investment, compared with 59 percent of those younger than 35.

Like other retirees who barely survived Bernie Madoff’s $50 billion Ponzi scheme, many older adults are more careful when it comes to investing their cash.

Another comrade, Warren Buffett, 81, recently announced that he won’t be buying Facebook IPO shares.

Readers: Do you know many people in their 60s who are on Facebook?

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