Your first client in your new job at the law firm, Mr. James Bond, is going to retire. He saved some money that he wants to invest to receive passive income in his retirement. He expects to create an investment portfolio that will bring him a high yield income in a short period.

Mr. Bond signed a contract to participate in an investment scheme. According to the contract, Mr. Bond has to buy securities of the value of $100,000. He will be rewarded a monthly income of 5% which will be paid with the funds received from more recent investors. In your own words:

1- Would you advise your client Mr. Bond to invest in this scheme? In your own words, explain why or why not.

2- If you recommend Mr. Bond not to perform the signed contract, can he be sued for a contract breach? Why or why not?

3- Explain to your client what he has to do in order to secure his money in the future. Provide 3 tips that you consider the most important.