There is a Hell, I rest my case.

This particular blog will have to evolve over the next few days till completion, if there is a end to (sic) it.  I’ve been talking for the past few months to a friend, one of the very few close personal kind of friend I’ve know most all my life.  Although not physically close, we have decades of memories from childhood, beach, chasing girls, adventures for the sake of exploring the world, and a few rounds of scotch and such for the most special occasions.  With this much said our discussion evolved from a problem with some optimistically maybe it can be resolved to a definitely I’ve been screwed, its criminal, immoral, illegal, unethical & there is nothing I can do about it. Apparently he was taken over the course of 20years for nearly 250K.  The responsible parties or person is now deceased yep, DOA just like my unnamed friends future, dead on arrival.  His savings and investments for over 2decades were fraudulently misrepresented, leaving him with more to pay than he makes, which ain’t chump change, No retirement home, but maybe with Gods grace he can hold on to his primary, no savings, no 401K, zero, zilch, nada, nothing.  His investments, retirement home were paid for with his own money, modest gains, believe he never did about 12-17percent on investments, plus maintaince and the supposed revenue from rental of the just a few years down the road retirement home.

As of yesterday, still has 12years on primary mortage, a 900$ a month payment on a retirement home he will never ever see and a most empty retirement fund.   How can one find themselves in such a multi-decade long bugger of a situation?

Follow the yellow brick road.

Investment consultant/big firm guy gets your account. Invest modestly with firm, build up the nest-egg.  Move into investment/retirement property along the coast. Investments, rental income covering the real-estate. Decades pass and the numbers are good, sometimes great, sometimes up. Overall looks like a solid retirement future irregardless of the economic climate.

Investment consultant/big firm  guy suddenly dies. Unbeknown to my friend, investment consultant/big firm  guy struggle with cancer for 5 years past. Sends flowers to the funeral, waits two weeks and New investment consultant/big firm  guy calls.  Great let us get acquainted.  Talk about what a great person previous investment consultant/big firm  guy and family was. Talk about future….when new investment consultant/big firm  guy mentions the need for more in account to start working towards retirement.  Say What?  Get the sinking feeling??? Do You??? Do you know what it feels like just before impact??

Old investment consultant/big firm guy screwed you and the New investment consultant/big firm  guy has the reams of paper you signed away you investments apparently to the Old investment consultant/big firm guys side company and the New investment consultant/big firm  guys company IS OFF THE HOOK. IMMUNE, INNOCENT, A PASSING CLOUD OF WISHFUL THINKING.  YOU GOT ZIP-ZERO-NADA-NOTHING, well maybe 20K @best. And don’t forget the rental property income NOT, cause your having to pay the mortgage on a Looser of a Shack, taxes and upkeep.

Bottom Line……….20years plus is a long time of good faith and trust to end up in hell. I rest my case.