FYI: (This is a follow-up article.)
Last year’s tumble for the stock market wasn’t enough to scare workers off of saving for retirement. Instead, many ended up saving more.
Even after a nearly 20% plunge for the S&P 500 rattled nerves at the close of 2018, workers upped their contributions into 401(k) accounts in the ensuing months. The average worker set aside a record $2,370 during the first quarter, up 15% from a year earlier, according to Fidelity Investments. Not only that, employers increased their own contributions to a record average of $1,780.
“I’ve been in this industry for almost 20 years, and we have been consistently saying that if you have access to a 401(k) or a 403(b), you should take a long-term view,” said Katie Taylor, vice president of thought leadership at Fidelity Investments. “It’s really encouraging that people are doing that now. That we have savings rates going up, employers adding more, it’s all great news
Regards,
Ted
http://www.telegraphherald.com/news/business/article_a5aa9682-0070-5614-aedf-ea7288432a34.html
