Retirement savers lose over $3 trillion in stock market retreat

Retirement savers lose over $3 trillion in stock market retreat

Retirement savers lose over $3 trillion in stock market retreat As stocks somersault this year, trillions of dollars have been scrubbed from Americans’ retirement savings. This year, the S&P 500 has slumped over 20%, the Dow Jones Industrial Average has fallen close to 16%, and the Nasdaq Composite has dropped more than 28%. As a result, Americans lost $1.4 trillion in their 401(k) accounts and another $2 trillion in IRAs, according to Alicia Munnell, director of the Center for Retirement Research at Boston College. While the losses sting especially after the stellar run-up in 2021, Munnell says most Americans still have enough time to recover before they tap those accounts. “I personally feel like I never expected the gains in 2021… In some ways we've just lost those unexpected gains …
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