Tag: 401k balances

Piggy bank wearing eye glasses facing a calculator on a blue background

Older high-income households with a 401(k) gained; everybody else lost.  The Federal Reserve’s 2022 Survey of Consumer Finances (SCF) summarizes changes in family finances between 2019 and 2022 – three years of COVID and economic disruption, and 2022 was also a terrible year in terms of stock and bond returns.  At the same time, t…

piggy bank on top of coins with a seedling growing out of the top

The Federal Reserve’s 2022 Survey of Consumer Finances (SCF) summarizes changes in family finances between 2019 and 2022 – three years of COVID, economic disruption, and unprecedented fiscal support – and 2022 was also a terrible year in terms of stock and bond returns. Despite the unusual circumstances, employment remained strong, the stock market –…