The 2008 financial crisis hit stock portfolios hard, but just as businesses and jobs have been climbing back to their pre-recession levels, so has the favorability of 401(k) retirement plans.
According to a recent poll by Gallup, “…a full eight years into the bull market, 50 percent of non-retired Americans expect their 401(k) or other retirement savings account to be a major source of income in their golden years. This expectation is the highest (by one point) that Gallup has recorded since April 2008, just before the Wall Street financial crises sucked more than $2 trillion out of U.S. retirement accounts.”
The numbers are still below the all-time high it reached in 2001, and investors are more leery of putting stocks in their portfolios since the Great Recession.
Need more? Check out this archived NJBIA webinar on providing a 401(k) plan for your employees. https://www.youtube.com/watch?v=onNMDOfgPRY