Every second, a Boomer retires. This statistic alone should be a comforting thought. It is but not necessarily for Boomers. Billions of dollars of invested money will suddenly come under the direct control of this group and many simply don't know what to do. Yes they will want to ensure they don't run out of money. But they will have just as many opportunities to lose it all - in a scam that promises to make sure they don't run out of money.
On the Monday Financial Impact Factor Radio hosted by Paul Petillo we had Pat Huddleston, author of The Vigilant Investor: A Former SEC Enforcer Reveals How to Fraud-Proof Your Investments Mr. Huddleston is also a lawyer and CEO of Investors Watchdog LLC. As a former SEC Enforcer, he has seen more scams than you could imagine. With his new book, he takes those stories and the effect it has had on the victims and gives us the ultimate tell-all on how to spot what the people we may trust are actually doing - often right under our noses.
This is a must listen show for those on the cusp of retirement, those who have already retired and those who have elderly parents who are already retired. In other words, everyone stands to gain when they steel their hard-earned portfolios against a loss.