Quote:
Originally Posted by dyna mo
Workers who have had money in their 401(k) accounts from 2003 and have been with the same plans had average account balances of $109,723 in 2009, compared with $83,161 a year earlier, according to the report.
“Retirement savers, by continuing to invest paycheck by paycheck, saw the benefits of being in the market in 2009, as stock values generally climbed during the year,’’ said Sarah Holden, senior director of retirement and investor research for ICI, a mutual fund trade group.
http://www.boston.com/business/perso...rcent_i n_10/ |
2010 the market has rebounded pretty good. Lets hope it stays that way and you wont be posting an article this time next year about people losing 1/3 of their retirement money
Although, people who are more than 10 years away from retirement shouldn't panic or get excited year to year, they are guaranteed to encounter good and bad years ahead of them. It just sucks for the people who are about to retire and the previous couple years the market tanks, they have no time to make it back like everyone else. That is why it is wise for people close to retirement to start moving their money into safer investments as they get closer to retirement.