Ponzi Scheme

I have been a victim of a ponzi scheme and had to start over from *zero* at the age of 46 years old. 

I have been very lucky to have been able to rebuild my life, own my home and be able to retire in a few years. 

Now, I can see behind the pretty masks people wear to deceive others and recognize a con artist from a mile away. 

It was an expensive lesson.  I was supposed to retire in my forties but instead I'm retiring in my sixties. I feel very lucky that I achieved the American dream not once but twice. 

What Is a Ponzi Scheme?

A Ponzi scheme is an investment scam that pays early investors with money taken from later investors to create an illusion of big profits. A Ponzi scheme promises a high rate of return with little risk to the investor. It relies on word-of-mouth, as new investors hear about the big returns earned by early investors. Inevitably, the scheme collapses when the flow of new money slows, making it impossible to keep up the payments of alleged profits.

https://www.investopedia.com/terms/p/ponzischeme.asp