Tag: retirement savings
2013 Survey of Consumer Finances shows drop in balances and in participation. 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 positiv…
The brief’s key findings are: The Federal Reserve’s 2013 Survey of Consumer Finances provides an opportunity to examine trends in retirement savings over the past few years. The good news is increased use of target date funds; the bad news is no improvement in participation rates, significant leakages, and high fees. Surprisingly, for working households…
