The middle Baby Boomers is 52 or 53, with 13 to 15 years of work left. Some get the fact that your lifestyle will be a heck of a lot better if your forgo some consumption in the next 10 to 15 years. Many do not get it.
"A number of people are contacting me saying, 'I'm continuing to watch my money evaporate. Should I stop contributing for now?'" says Gregory Ostrowski, a specialist in advising 401(k) participants on a flat-fee-basis. "It's one of the most counterintuitive things in the world, but these are relatively the best times to contribute new money because you're taking advantage of a sale," says Mr. Ostrowski, who has helped several participants move into more conservative funds.
Jittery 401(k) investors are trying to plan the next move. Just as the federal 2006 Pension Protection Act is pushing more employers to automatically enroll new workers, the subprime mortgage crisis is making many savers anxious and leaving others struggling to pay bills. Some participants are dumping stocks for cash or decreasing 401(k) contributions from their paychecks.
The middle Baby Boomers is 52 or 53, with 13 to 15 years of work left. Some get the fact that your lifestyle will be a heck of a lot better if your forgo some consumption in the next 10 to 15 years. Many do not get it.
Jittery 401(k) investors are trying to plan the next move. Just as the federal 2006 Pension Protection Act is pushing more employers to automatically enroll new workers, the subprime mortgage crisis is making many savers anxious and leaving others struggling to pay bills. Some participants are dumping stocks for cash or decreasing 401(k) contributions from their paychecks.