That’s the subject of the PBS Nightly Business Report on April 10 (Good Friday). Previous shows in a year-long series on retirement investing are available here.
I haven’t seen the programs, but I think this is a terrific topic. Many seniors have been devastated by the stock market crash. They had way too much exposure to common and preferred shares, income trusts and equity funds in their retirement plans.
As interest rates fell to levels never seen before, many retirees wanted an alternative to investments that paid low interest. Financial advisers took advantage of their trust with promises of high returns and low risk. No one anticipated the severity of the stock market meltdown that started last year.
“It’s not about me, but my parents. I feel most adults ‘get’ your advice, but seniors are another matter,” said a reader who’s in the process of suing his father’s investment adviser.
You can read the rest of his story below.