Schuller
(1988:112) noted that success without social respect can be an ultimate and
dismal failure. But that is not the feelings of con artist as they continually
scheme, plan and put in strategies that will bring in money no matter who ever
that is involved. They do not even care about the state of such people; at times
they deliberately target retirees because of their vulnerability.
What
then makes a retiree vulnerable? The issue of vulnerability will be explained
as we progresses on the write up.
Most
losses during retirement occur as a result of wrong decision, wrong purchase
decision, and the lust for the sweet things of life, mainly womanizing. But the
most devastating of such losses is the loss as a result of scam, fraud and any
other actions targeted on the financial positions of the retirees.
Old age
has one problem according to psychologist, it tend to make old people vulnerable
to issues of money making, as they have dream idea of trying to achieve what
they fail to achieve during their working career. They now want to achieve
it during old age and by so doing
enter into one wrong investment decision or the other.
Whatever
they have not achieve they tend to believe that retirement will afford them
that opportunity, by so doing they enter into wrong hands who will fleece them
of their hard earned money. The result is that most of the retirees return back
to work in order to survive and enjoy their old age. But what these scammers do
not know is that wealth do not bring happiness as it is stated in Ecclesiastics
5 verse 10-11 “ How absurd to think that wealth brings happiness, the more you
have, the more people come to help you spend it and continuing
in Ecclesiastics 5 verse 12, 14, it sates “ But the rich are always
worrying and seldom get a good night
sleep” Riches are sometimes hoarded to the harm of the saver, or they are put
into risky investment that turn sour and everything is lost”
And
continuing in Ecclesiastics 5 verse 19 and 20, “And it is good thing to receive
wealth from God and the good health to enjoy it” “To enjoy your work and accept
your lot in life- that is indeed a gift from God, people who did this rarely
look with sorrow on the past,for God has given them reason for joy”.
And so
in making wealth, it is pertinent for us to have that God given joy that gives
one happiness- a lasting happiness.
Anything
short of that may not augur well especially for con artist as Robert Kiyosaki
in his book Rich dad Poor dad, noted that there are so many ways, one can be
rich, and he included the following, through inheritance, playing lottery,
investing or by being a crook or an outlaw but there is a price, you risk going
to jail. Kiyosaki (1995:351) continuing
he stated that ‘A great story must interest , excite and cause people to look
into the future and dream a little, there should also be integrity behind the
story, because our jails are filled with great story tellers without
integrity”.
So
what should you do during old age as it
regards investment and business as majority of the retirees are interested in
working and making more money , thereby creating wealth. And according
to Walter Updegrave in an article captioned “ Three Little mistakes that can sink your
retirement, which appeared in Yahoo
Finance it states that “It’s almost become a cliché. Virtually every survey
asking pre-retirees what they plan to do in retirement shows that the
overwhelming majority plan to work.
Indeed, a recent Merrill
Lynch survey found that nearly three out of four people over 50
said their ideal retirement would include working. Which is fine. Staying
connected to the work world in some way can not only offer financial benefits,
it can also keep retirees more active and socially engaged”
But what
happens if retiree involve in spurious contract that may be a scam, intended to
dispossess him of his wealth? There is
need for the retiree to embark on the services of investment adviser even if he
was an investment guru during his career, the reason is that in what concerns
you , there may be likelihood of mistake unlike when you hand it over to an
independent investment adviser, as it has been the same with lawyers, as they
it find difficult to handle their own
cases as doctors are also in the same dilemma in treating their own diseases.
The idea of
getting an expert is to safeguard the retirees fund from con artist during old age
but that rest squarely on the retiree.
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