According to Fidelity’s analysis, retirement account balances in 401(k) plans lost nearly one-quarter of their value in 2022.
“Amid ongoing high inflation and economic uncertainty, less than half of the retirees are expected to outlive their savings.
“Although the average 401(k) balance rose in the fourth quarter of last year, balances ended 2022 down 23% from a year earlier to $103,900, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans. The financial services firm handles more than 35 million retirement accounts in total.
“The average individual retirement account balance also plunged 20% year over year to $104,000 in the fourth quarter of 2022.”
In part, we all can thank Joe Biden and the Democrat Party.
Make sure you are well-diversified. If we get rid of Democrats next election, it might come back. If you’re invested in ESG, get out of it.
FIDELITY: Retirees lost 23% of their 401(k) savings in 2022https://t.co/8eqFmhHMu3
— RNC Research (@RNCResearch) February 27, 2023
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