NEW YORK — Last year's tumble for the stock market wasn't enough to scare workers off of saving for retirement. Instead, many ended up saving more. Even after a nearly 20% plunge for the S&P 500 rattled nerves at the close of 2018, workers upped their contributions into 401(k) accounts in the ensuing months. The average worker set aside a record $2,370 during the first quarter, up 15% from a year earlier, according to Fidelity Investments. Not only that, employers increased their own contributions to a record average of $1,780. "I've been in this industry for almost 20 years, and we have been consistently saying that if you have access to a 401(k) or a 403(b), you should take a long-term view," said Katie Taylor, vice president of thought leadership at Fidelity Investments. "It's really encouraging that people are doing that now. That we have savings rates going up, employers adding more, it's all great news." Altogether, workers saved an average of 13.5% of their pay during … [Read more...] about What market tumble? Workers up 401(k) savings to record
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Anna Baluch, provided by Published 11:43 am CDT, Wednesday, April 3, 2019 Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective. 10'000 Hours/Getty Images If you're wondering how to invest money, the answer isn't all that complicated. CFP Ryan Cole says the best way to start investing is an option that's probably right in front you: your employer-sponsored retirement accounts. If your employer doesn't provide retirement accounts, or you work for yourself, Cole finds a retirement account like an IRA is still the best place to get used to investing. Investing in the stock market might sound intimidating, but getting started can be simple. “For many people, the best way to start investing is to contribute money to their 401k or other employer retirement plan with a company … [Read more...] about A financial planner’s best tool to start investing has probably been in front of you all along
By Jade Scipioni Published December 26, 2018 Markets FOXBusiness Facebook Twitter Comments Print video Trump: The only problem our economy has is the Fed Heritage Foundation chief economist Steve Moore on President Trump's criticisms of the Federal Reserve's interest rate hikes and their impact on the U.S. economy. A day after the worst Christmas Eve for the stock market ever, President Trump touted to Americans that it’s exactly a good time to buy. Continue Reading Below According to Reuters, while speaking to reporters in the Oval Office, Trump said he has “great confidence” in U.S. companies and the recent market jitters actually present a good opportunity for investors to buy at lower prices. “I have great confidence in our companies. We have companies, the greatest in the world, and they’re doing really well. They have record kinds of numbers. So I think it’s a tremendous opportunity to buy,” … [Read more...] about Trump sees market plunge as a good opportunity to buy, but is it?
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Elena Popina, Sarah Ponczek and Vildana Hajric Bloomberg December 24, 2018 Battered and bruised for three months, a bull market whose durability has exceeded all others lurched within a few points of its demise on Christmas Eve, extending one of the roughest stretches for equities since the financial crisis.By the thinnest of margins, the S&P 500 was spared its first 20 percent decline since 2009, a period that spans two presidential administrations and three Federal Reserve chairs. Investors hoping for a respite from volatility before the break got yet another powerful dose, as the equity sell-off that has defied every hope of ending showed itself no respecter of holiday cheer.At the end of Monday’s mercifully abbreviated session, the benchmark gauge for American equities sat at 2,351.10, down 19.8 percent from its Sept. 20 close and just seven points … [Read more...] about Stocks pushed to the brink of a bear market on Christmas Eve
By Dan Butcher Published December 24, 2018 Personal Finance FOXBusiness Facebook Twitter Comments Print video Preparing your retirement savings for the 2019 market environment Charles Schwab Jeff Kleintop on the state of the U.S. economy, the Federal Reserve and how investors should prepare their retirement portfolios for the year ahead. Investors that have been holding on for dear life, held on a bit tighter Monday as the S&P 500 slipped into a bear market, off 20 percent from the highs, and the Dow Jones Industrial Average tumbled more than 600 points, now below 22,000. The declines ahead of the Christmas holiday come after weeks of extreme stock market volatility and amid a renewed attack on the Federal Reserve by President Trump. Continue Reading Below Whether you have a 401(k) or plain vanilla retirement account, these can be trying times riddled with uncertainty, but it is not the first time the markets have swooned, and it … [Read more...] about A Bear Market: What 401(k) investors need to know now