Retirement assets at the end of 2013 were the highest on record, a strong indication that many savers have seen their investment accounts bounce back from the financial crisis of 2008 when the stock market fell so hard it lost nearly half its value.
While the increased assets in retirement accounts is good news in general, the consumer advocate for the Certified Financial Planner Board [of Standards] in Washington, D.C., said there are a lot of devils in the details. "This doesn't necessarily mean people are out of the woods with respect to retirement savings," said Eleanor Blayney, [CFP®]. "There are segments of individuals who may still be underfunded for retirement.
"Of particular concern are baby boomers. They are closer to retirement than most of the population, and we know they have not saved enough." Read more >
By Tim Grant
April 8, 2014