Five Years 401k Investments Vanished

The average 401(k) balance is back at the level it was in 2004, according to a report by the Employee Benefit Research Institute—essentially wiping out the past five years of investing. Here's the article from On Wall Street.

“Americans have a great deal of work to do after the tremendous loss of wealth in 2008 to ensure financial security in retirement,” said Craig Copeland, a senior research associate and author of the EBRI report.

However, with the economy showing some signs of renewed strength, Copeland said, Americans should take heart that they have an opportunity to restore their retirement savings.

This is not the case for all investors, though. If you’re retirement and investments are down more than you’d like, contact us for a FREE Financial Review. We’ve added value to investors in similar situations.