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Continued: Schafer: Booming stock market isn't enough to fix 401(k) problems

  • Article by: LEE SCHAFER , Star Tribune
  • Last update: May 11, 2013 - 9:09 PM

And let’s set aside completely the question of why an economy robust enough to produce a 15,000 Dow Jones industrial average can’t seem to produce enough jobs that fund the basics of a good life.

A 15,000 Dow clearly beats 6,500 for 401(k) investors, but the director of communications for EBRI, Stephen Blakely, almost didn’t see the point of my asking about the impact of a record stock market on the overall picture of American retirement finance.

“As our retirement confidence survey shows,” he responded, “a very large percentage of American workers have very little in savings, let alone investments.”

 

lee.schafer@startribune.com 612-673-4302

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