Posted on 02/23/2023 1:41:25 PM PST by ChicagoConservative27
Average retirement account balances dropped nearly 25 percent last year, according to a new report by Fidelity.
Although retirement balances increased in the fourth quarter of 2022, the average balance of individual retirement accounts (IRA) dropped by 23 percent from the fourth quarter of 2021, according to Fidelity’s research, which was released on Thursday.
BUSINESS Retirement account balances lost almost 25 percent last year: Fidelity BY LAUREN SFORZA - 02/23/23 3:22 PM ET SHARE TWEET
FILE – This Oct. 24, 2016, file photo shows dollar bills in New York. A recent survey by Fidelity Investments found that savings are declining. (AP Photo/Mark Lennihan, File) Average retirement account balances dropped nearly 25 percent last year, according to a new report by Fidelity.
Although retirement balances increased in the fourth quarter of 2022, the average balance of individual retirement accounts (IRA) dropped by 23 percent from the fourth quarter of 2021, according to Fidelity’s research, which was released on Thursday.
The study found that the average IRA held around $104,000 in the last quarter of 2022 — a steep decrease from the prior year, where the average was $135,600.
The average balance of 401(k) retirement accounts also dropped during this time period: a decrease of about 20 percent from fourth quarter of 2021. The average 401(k) account balance in the fourth quarter of 2022 was $103,900 compared to an average of $130,700 in the 2021 fourth quarter.
(Excerpt) Read more at thehill.com ...
Right now I’m down about 15 % from the high.
27% in my case and assured that I would be working for many more years instead of retirement. I was about to pull the trigger on retirement.
That is entirely possible.
Im holding large in SPAXX and IDSXX, but maintain some in some other Fidelity funds that I like when things look good and we have adults in charge. I retired last year, but I haven’t had to dip into my mutual funds yet.
We are to believe that is what the people wanted ... and voted for in 2020.
Well, DUH, I’m so happy Fidelity is there to set us straight with the facts of life.
Whatever would we do without them?
The heads at Fidelity are in private hedge funds...they made money.
That’s why they are called “wage slaves”. Work them until they are dead.
Mine lost 15% plus.
48% of Americans have no investments.
Been retired 12 years. Now it’s looking grim. I’m too old/tired to work. Not eligible for anything but SS. 401k dropping like a rock tossed from a plane. And Canada/Globalists pushing for euthanasia for people like me. I feel sorry for the next generation. I’ve lived my life.
Except for those who have no retirement savings. They lost nothing.
Who is going to pay for them in old age?
Those that do have savings!
My stock fell quite a lot last year but is going back up now.
The better news is I do not owe any federal taxes for 2022....
I know that feeling. I can continue to work, but do so in great pain. I’ll go as far as I can, but at some point as I told my wife I’ll say not today.
The progressives and government have turned on the people and are making them slaves of the state. It will not turn out well for either.
Look at the bright side, Biden is fully funding the (bloated) salaries of Ukraines corrupt regime and paying their pensions. After all they steal in office, they’ll be rich and we’ll be impoverished.
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