Baby Boomers are likely to run out of money in retirement. It is going
to be a big surprise to them. Investors hate surprises. Unhappy
investors, particularly surprised and unhappy investors, run to their
attorney’s office. Out-of-money-retirees do not have many alternatives
at this stage, and none of these are good ones: 1) go back to work if
your health allows and if Walmart is still hiring. 2) decrease spending
dramatically. 3) Die. 4) Sue their financial adviser, who didn’t
protect against this catastrophe. -- Which option do you think is the
easiest? Many advisers think the 5 year statute of limitations will
work wonderfully here, WRONG! -- Arbitration is written into every
contract. And arbitrators are not bound by a court of law or its stoic
laws. So expect law-suits to multiply by 5 – 10 times in the next few
years.