Tag: 401k

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Inflation Has Eroded Retirement Plans Values by an Average of $16,200

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the staff of the Ridgewood blog

Ridgewood NJ, stocks up but you are still feeling a little poorer ? Americans’ nest eggs are getting clobbered by “Bidenflation”.

Continue reading Inflation Has Eroded Retirement Plans Values by an Average of $16,200

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401K balances Grew in 2020 despite COVID Pandemic Pressures

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the staff of the Ridgewood blog

Ridgewood NJ, There is no doubt in people’s minds that COVID-19 caused economic uncertainty.  It strained many Americans financially, but it also provided an opportunity for many to increase their 401k balances.

According to a report from LT Trust detailing the impact of COVID-19 on retirement savings, the average 401K balance increased by 30.8 percent nationally during 2020, and the average employee contribution increased by 6.12 percent. New Jersey saw in increase of  29.3% .

Continue reading 401K balances Grew in 2020 despite COVID Pandemic Pressures