Retirees wiped out, lose millions: SEC

Photo: Joseph Cotton as Uncle Charlie, the ultimate predator on senior citizens, in Shadow Of A Doubt (1943). © Mary Evans / AF Archive / Everett Collection. Article by Brett Arends. Reprinted on MSN. Original article published on Market Watch: Brett Arends’s ROI – May 21, 2021.

When it comes to handling our money in retirement, there’s probably one number to keep in mind above all others.

That number? Zero.

For example, it’s the exact percentage of our savings we should be gambling on private companies, meaning those not traded on the stock market.

And it’s the amount in round dollars that we should invest with charming, persuasive strangers peddling exotic investment schemes. And it’s also the number of those strangers to whom we should give actual custody of our funds. […]

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