Americans may be afraid to look at their retirement accounts thanks to stock-market volatility, but many investors are still staying the course, according to new data.
Americans may be afraid to look at their retirement accounts thanks to stock market volatility, but many investors are still staying the course, according to Fidelity Investments’ most recent data released Thursday.
“We have more and more retirement savers not making changes based on short-term market events,” said Mike Shamrell, a Fidelity Investments spokesman. “They’re deciding to stay the course and taking a long-term approach.” “People are starting to understand this is something that is going to occur and that trying to make changes based on these short-term events could have a negative impact on your long-term ability to save,” Shamrell said.
Not all savers may have seen the benefits of their increased savings rates, however. Retirement account balances declined from last quarter, or the same time last year. For example, the average 401 balance was $121,700 in the first quarter of 2022, down from $130,700 last quarter and $123,900 in the first quarter of 2021; IRA balances were $127,100 last quarter, down from $135,600 in the last quarter of 2021 and $130,000 from the 2021 first quarter.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Biden admin risks Americans' retirement accounts to push climate agenda, GOP leaders in 24 states warnA Biden administration rule threatens Americans' retirement funds by prioritizing 'speculative and immaterial risks' from climate change over real returns, attorneys general and treasurers from 24 states wrote in a letter challenging the proposal.
Les mer »
How retirement coaches are training people to make one of life’s trickiest transitionsSo many people work so hard for so long that their identity becomes deeply intertwined with their career. So what happens when you retire? There's a retirement coach who can help you make the transition:
Les mer »
Worst-case scenario for N.J.’s Greg Olsen with FOX Sports isn’t so badFOX Sports announced last week that Tampa Bay Buccaneers quarterback Tom Brady will become the network's No. 1 NFL game analyst following his retirement.
Les mer »
Twin sisters become the 1st Asian American girls to make Eagle Scout in BrooklynSelena and Alison Zhang are 17-year-old identical twins. They are the first girls and the first Asian American girls to make Eagle Scout in Brooklyn.
Les mer »
Goats eat overgrowth at Brackenridge — no ifs, ands or buttsThe Brackenridge Park Conservancy, in coordination with the San Antonio Parks and...
Les mer »
The Asian origins of ketchup, the all-American condimentOver thousands of years, ketchup became a staple of the Jane Austen household, Civil War soldiers and American refrigerators.
Les mer »