Retirees lost 23% of their 401(k) savings in 2022, Fidelity says
Publishing timestamp: 2023-02-23 11:37:34
Summary
Retirement account balances in 401(k) plans lost nearly one-quarter of their value in 2022 according to Fidelity's analysis. Despite ongoing inflationary pressure straining most households, only 16.7% of plan participants had loan outstanding from their 401(k) at end of year. Across all ages and income levels, at least one-third of adults said they are likely to have less in savings now compared with year ago. Nearly half of retired Americans believe they'll outlive their savings.
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Keywords: individual retirement accounts, personal finance, personal saving, business news, retirement planning, investment strategy, kevin barry, life, economic events, 401(k) plans, fidelity national information services inc, markets, inflation,