Investors with SoCal gold firm lose their retirement savings

[caseybills]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[FernandoBowen-]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[DonaldMark-nese]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[OmidfNimaryi]

Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.

[tomhall]

If it's not in your hands, you don't own it.

[MelvinCooper-ovlg]

Moral of the story, buy the physical gold yourself.

[blue_diamond_gem]

Precious metals rule number 1: If you can’t hold it, you don’t own it.

[jessicaaraneta]

I was about to invest with this company several years ago and my mentor who has been investing in precious metals for 60 + years, said never store your metals with someone else. You don't own it unless you hold it.

I'm glad I listened to him.

[Paul_Wetor]

A photo of "your gold" is proof of nothing. They could sell that same piece of gold to hundreds of people.

[pittwm]

Don’t buy gold contract, buy actual gold coins

[gtcaleb]

People will spend three months, researching kitchen appliances to buy the best one, but spend a few minutes reading a brochure when it comes to investing money that does not make sense

[GerardoLopez-xuft]

Why is this not getting more exposure in the media ? Everyone needs to know about gold scams!

[eturn]

It's a real shame this news story didn't report the names of the people who own and ran Oxford Gold.

[althunder]

"I don't care what's going on with your companies..." well that was his first problem right there.

[GibsonJames-gron]

I'd prefer gold etfs for easy diversification and liquidity

[nova]

Society: "Listen to your elders!"
Elders: "This brochure looks high quality. Lemme dump my life savings there"

[LeahLewis-nyiu]

Investing in gold may seem like a wise move, but it's crucial for folks to stay sharp when making investment decisions.

[JumpJeho]

That guy is surprisingly calm about a devastating loss. This is my worst nightmare.

[SeanThompson-qpwn]

Never buy gold or any metal that you don't physically possess.

[billyhorton]

Need to get the Postal Service Authorities involved, if they're not already involved. Wire fraud, mail fraud. They assisted me in getting a refund from a scammer in California of all places.