Retirement account balances fell during the third quarter, a sign of how market turmoil has taken a toll on Americans’ nest eggs, according to new data from Fidelity Investments. But there’s good news, too: Savings rates remain strong, underscoring many investors’ resiliency.
“Retirement savers have wisely chosen to avoid the drama and continue making smart choices for the long-term,” Kevin Barry, president of Workplace Investing at Fidelity Investments, said in a statement. “This is important, because one of the most essential aspects of a sound retirement savings strategy is contributing enough consistently—in up markets, down markets, and sideways markets—to help reach your goals.”
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