Tag: retirement accounts
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…
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 –…