The Center for Retirement Research at Boston College indicates that qualified retirement savings have decreased by almost a third--to an average balance of $56,000--due to the financial crisis.
"The 2007 Survey of Consumer Finances shows 401(k)/IRA balances of $78,000 for those approaching retirement, a modest improvement over 2004. However, by October 2008, the stock market collapse had reduced 401(k)/IRA balances by about 30 percent - to just $56,000."
Source: Center for Retirement Research at Boston College
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