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Home > Securities > Early Retirement
Early Retirement Stock Fraud Attorneys
in Dallas, Texas
Due to a combination of corporate down-sizing, a large pool of younger, less expensive people entering the workforce and appreciation in the assets held in retirement accounts, many workers in their late 40's and 50's find themselves looking at the possibility of taking early retirement. Whether voluntary or forced, the question facing those in this position is, "do I have enough saved to live off of for the rest of my life?" Most of the people facing this decision do not have the experience or acumen to answer that question, so they seek the advice of investment professionals.
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In many cases they are told, "Yes"; however, in many cases this answer is based upon a faulty premise. Many investment professionals base their affirmative answer on models and projections that use historical returns of the stock market as the substitute for the 'income' the retiree now needs to live on. These projections invariably show a steady, constant rate of return that the retiree should be able to draw on to replace the income he has left or is leaving behind, when in fact, the stock market is anything but steady and constant on a year-in, year-out basis, and should never be counted upon to provide current income.
To compound this grievous error in planning, many investment advisors recommend that the retiree avail himself of the tax break offered by the IRS for those wishing to draw on their retirement savings prematurely by locking them into distributions under section 72(t) of the IRS Code.
The NASD has even published an "Investor Alert" to warn potential retirees about the risks involved with early retirement and the misleading statements often made by financial advisors titled "Look Before You Leave: Don't Be Misled By Early Retirement Investment Pitches That Promise Too Much".
If you have been advised to take early retirement and your retirement assets were placed at undue risk, you may have recourse. Call or email the securities attorneys at Burg Simpson in Dallas, Texas today to schedule your free initial consultation.
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