{"id":23395,"date":"2023-06-16T07:05:15","date_gmt":"2023-06-16T11:05:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/workers-kept-saving-in-401ks-at-a-record-level-in-2022-vanguard\/"},"modified":"2023-06-16T07:05:17","modified_gmt":"2023-06-16T11:05:17","slug":"workers-kept-saving-in-401ks-at-a-record-level-in-2022-vanguard","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23395","title":{"rendered":"Workers Kept Saving in 401(k)s at a Record Level in 2022: Vanguard"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000671892\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>Workers contributed an average 7.4% of pay to their 401(k) accounts last year, tying 2021\u2019s high despite the tumultuous markets, according to Vanguard\u2019s annual How America Saves report released on Thursday.\u00a0<\/p>\n<p>During a year marked by market volatility and losses, retirement savers largely stayed the course in 2022, Vanguard found. Last year, the<br \/>\n        S&amp;P 500<br \/>\n      lost nearly 20%, U.S. bonds dropped about 13%, and most target-date funds, which adjust their mix of stocks and bonds over time, fell somewhere in between. Yet, only 6% of investors in self-directed retirement accounts traded last year, according to the report, which tracks the behavior of nearly five million Vanguard retirement account participants.\u00a0<\/p>\n<div class=\"paywall\">\n<p>What\u2019s more, savers socked away a healthy amount of their income in 401(k) accounts. Including the company match, the total average contribution rate was 11.3%. Vanguard recommends that investors save 12% to 15% of their pay each year for retirement, including employer contributions, if applicable.\u00a0\u00a0\u00a0<\/p>\n<p>The set-it-and-forget-it design of many retirement plans helps savers stay on track. Three quarters of larger plans automatically enroll new workers, and of those, 69% also automatically invested participants into a balanced fund and automatically increased their contribution rates annually.\u00a0<\/p>\n<p>Market losses are scary but often short-lived, and those who stayed the course are capturing stocks\u2019 recovery and the start of a new bull market. Historically, whenever the S&amp;P 500 closed 20% above the prior bear low, it gained an average of 14.5% over a five-month period, according to Sam Stovall, chief investment strategist at CFRA Research. While past performance is never a guarantee of future results, \u201cthings are looking good,\u201d Stovall says.<\/p>\n<p>Write to Elizabeth O\u2019Brien at elizabeth.obrien@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/record-401k-saving-2022-vanguard-d76267cf?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Workers contributed an average 7.4% of pay to their 401(k) accounts last year, tying 2021\u2019s high despite the tumultuous markets, according to Vanguard\u2019s annual How America Saves report released on Thursday.\u00a0 During a year marked by market volatility and losses, retirement savers largely stayed the course in 2022, Vanguard found. Last year, the S&amp;P 500 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-23395","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Workers Kept Saving in 401(k)s at a Record Level in 2022: Vanguard | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Workers contributed an average 7.4% of pay to their 401(k) accounts last year, tying 2021\u2019s high despite the tumultuous markets, according to Vanguard\u2019s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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