Ready for Retirement? Fewer and Fewer Americans Are Saving for that Time
Thus, the nearly half the adults in America who haven’t saved remain childlike and live in barbarism.
For those who are saving, volatile markets point to a less-than-cozy retirement for the majority. Last year’s beat down of the average 401(k) plan was 20 percent, which didn’t help. But retirement participants are keeping the sunny-side up, believing “they’ll move closer to their retirement goal by ending 2023 with more in retirement savings than at the end of 2022.” We can only wonder what makes folks believe that.
Most retirement savings are invested in index funds which track the S&P 500 and, “particularly for older savers, in actively managed equity funds heavily weighted in the benchmark index’s top stocks,” writes Woolley.
Shares of giant tech companies, fueled by zero-percent interest rates, fooled individual investors into beli
Article from Mises Wire