Americans have been through a lot over the past two years, and a new study shows that during that time many ended up making 'downright ugly' decisions regarding their retirement planning – often out of necessity.
In this Oct. 14, 2019 file photo a Fidelity Investments logo is attached to a building, in Boston. Fidelity is launching a new type of account for teenagers to save, spend and invest their money. The account is for 13- to 17-year-olds, and it will alAmericans have been through a lot over the past two years, and a new study shows that during that time many ended up making "downright ugly" decisions regarding their retirement planning – often out of necessity.
Of the next-geners who quit their jobs during the Great Resignation and had a 401, 1 in 5, or 21%, cashed out their accounts after leaving. One of the biggest concerns Fidelity observed was that 71% of Americans are worried about inflation's impact on their retirement planning — and almost one-third don’t know how to make sure their retirement savings keep up."The encouraging news is, rising costs might not be as big a threat to your retirement lifestyle as you may fear," she told FOX Business.
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