Tag: 401(k)/IRA balances
Last week’s blog post reported that – according to the Federal Reserve’s 2013 Survey of Consumer Finances – 401(k)/IRA balances for the typical working household approaching retirement declined from $120,000 in 2010 to $111,000 in 2013. This drop is startling given the positive developments between 2010 and 2013 – a recovering economy, strong stock market…
The Federal Reserve has just released the 2013 Survey of Consumer Finances (SCF), a triennial survey of a nationally representative sample of U.S. households, which collects detailed data on their assets, liabilities, and demographic characteristics. It is considered the gold standard of information on income and wealth. Overall, this year’s report is very discouraging. For…
