Retirement savings are disappearing in the high-return promise of fund collapses

Nearly half of Australians aged 50 to 66 are worried they will run out of money in retirement, according to the Australian Securities and Investments Commission. This anxiety is compounded by market volatility. The Strait of Hormuz's closure and attacks between the US, Israel, and Israel's attack on Iran, followed by by the US and Israel's attack on Iran, and retaliatory strikes, sparked investor rattle. The ASX 200 fell more than nine per cent in March. In the United States, the Nasdaq fell 8.6 per cent and the S&P 500 crashed almost eight per cent. For some, the loss of capital is permanent. The First Guardian and Shield funds collapsed, after promising high returns for investors with stable and diversified products. Thousands of victims lost their nest eggs in these collapses. Hundreds of Australians have tapped Financial Dispute Legal to receive Legal to receive compensation after losing $160m in $160m in Australian Fiduciaries Ltd’s collapse.