FINRA and the SEC jointly released a document meant to protect investors from “early retirement scams” that play on the desires of many peoples to retire as early as possible with as much money as possible. The document notes that “some financial ‘experts’ tout early retirement schemes that promise more than they can deliver.” The goal of the release is to “help [investors] avoid being misled by flawed
or even fraudulent retirement pitches, particularly those that dangle the prospect of early retirement with little or no reduction in income compared to your working years.”
The release keys on 4 major red flag claims that may indicate a fraudulent or misleading retirement scheme:
- “Everyone can retire early!”
- “You can make as much in retirement as you can by continuing to work!”
- “You can expect a return of 12 percent or more!”
- “You can withdraw 7 percent or more and never run out of money!”
The FINRA and SEC document has much more useful information for investors eyeing retirement and can be found at http://www.investor.gov/sites/default/files/Early-Retirement-Seminars-101.pdf
If you are concerned that you have been a victim of an early retirement scheme or have other questions related to securities fraud, please call our Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit http://www.whitesecuritieslaw.com.