Youssef Boudlal / Reuters The morbid joke about the Great Recession was that it turned Americans’ 401(k)s into 201(k)s. Indeed, the nation’s 401(k)s and IRAs lost about $2.4 trillion in the final two quarters of 2008, and the average loss that year for workers who had been on the job for 20 years was, according to one estimate, about 25 percent.
The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew
Teresa Ghilarducci, The Atlantic
Fri, 10/16/2015 - 4:50am
Topics: youssef boudlal reuters the great recession americans&rsquo iras gdp joelle saad-lessler the new school social research of these i american s&p saad-lessler percent workers people poor losses lost number average buy stocks wrong market fact balances money story dollars exposed markets current averages they’d thought group
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