Wednesday, June 16, 2010

Protect Your Retirement Savings From Shady Money Managers

As you approach retirement, it is inevitable that you worry about sufficient savings to tide over your needs when you no longer have income. This is a scary moment, especially for those who have little savings to continue their lifestyles.

Fretting over the issue is a bit late by then and you should really squirrel away as much of your retirement account in your youth. However, even if you have fat savings, it is no guarantee of a comfortable retirement when you don't protect your savings.

In the past few years, many people lost their savings due to fraud (Bernie Madoff and Allen Stanford ponzi scams). There are many financial professionals that offer advice on money management but ended up cheating their client’s money or just collect fees without increasing your retirement portfolio.

Some hedge funds will promise you big returns, but do your research and ask around before you commit any of your retirement saving to them. As can be seen, the Securities and Exchange Commission is not always watching over average investors and they do their work on hindsight.

In order to sleep better at night, knowing you have enough savings to last through retirement and the money is safe from vampire suckers, you must research every company that you plan to entrust your money.

In conclusion, when something sounds too good to be true, it probably is...


Hot Deals said...

Imagine leaving a window open all winter long — the heat loss, cold drafts and wasted energy! If your home has a folding attic stair, a whole house fan or AC Return, a fireplace or a clothes dryer, that may be just what is occurring in your home every day. These often overlooked sources of energy loss and air leakage can cause heat and AC to pour out and the outside air to rush in — costing you higher energy bills. But what can you do about the four largest “holes” in your home — the folding attic stair, the whole house fan or AC return, the fireplace, and the clothes dryer?