Investors Still Stash $ for Retirement
Even the stock market’s wild gyrations in 2008 didn’t deter investors from funding retirement accounts.
According to a report on trends from Principal Financial Group Inc., 19.2% of investors participating in retirement programs increased 2008 contributions while 16.5% stopped or decreased contributions.
The report looked at about 44,000 retirement plans in 2007 and about the same number in 2008–all services of Principal. In total, the average retirement account balance was down 28.5% in 2008, giving up most of the gains made in 2007. Investors under the age of 50 suffered the largest decrease in their accounts–32%.
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