Here is an article from Newsweek today on the bounceback of 401(k)s since the stock market has rebounded as of late. However, unfortunately, workers who are very close to retirement have accounts that have less money than they did at the end of 2007 – because their accounts had more to begin with. We’re talking about workers aged 55-64, who have been at their job at least 10 years. It may be ironic, but it also makes mathematical sense.
The article suggests that older workers near retirement may need to take bigger risks with their investments “in hopes of snagging bigger returns.” The other suggestion: working longer. Check out the whole article for all the details on the recent studies from investment firms like Fidelity Investments and Vanguard Investments.
Check out this column from the Wall Street Journal today that answers questions from readers – this one discusses unsolicited job offers. Have you ever received one? The columnist suggests that any unsolicited offer is probably a scam, and suggests ways to find out for sure.
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