CNBC Digital presents the second in a series of five articles by members of its Financial Advisor Council on worst-case financial scenarios affecting clients in four age brackets: millennials and younger Gen Xers; people in their 40s and 50s; 60-somethings and pre-retirees; and those already in retirement. This week's guest contributor is Tim Maurer, director of personal finance at the BAM Alliance.
Throughout the course of my career, I've heard a lot of financial horror stories. The majority of these stories are told by baby boomers whose aggressive stock market strategies went bust, often at the behest of a transaction-oriented "advisor."
The most pain—yes, even marginally greater than that of former Enron employees and Bernie Madoff scam victims—has been felt by a younger generation, however, in America's suburbs, far from Wall Street.