8 New Stats on How Retirement Savers Have Fared in Rocky Markets
November 21, 2022 by John Manganaro
New data published Thursday by Fidelity Investments shows ongoing market swings and concerns about inflation continue to cause financial stress among retirement savers.
According to Fidelity, the percentage of individuals with negative feelings about their finances (32%) is now greater than those who have positive feelings (30%). This is a stark contrast to just a year ago, when the percentage of workers who felt positive about their finances (45%) was more than twice the percentage of those with negative feelings (22%).
Wink’s Note: 1. Average IRA balances are down nearly 25% from Q3 2021.
2. Average 401(k) balanced dropped below six figures.
Needn’t be, were the IRA in a fixed or indexed annuity. – sjm