When times are bad, they’re bad

As someone serving as a plan fiduciary and pooled plan provider, I know the market is not doing too well when I get paid. Of course, I don’t conduct surveys on how bad people are feeling about things. Count on a big plan provider to conduct a survey.

According to Fidelity, the percentage of individuals feeling negative about finances has increased to 32% in the past year and is greater than the 30% who have positive feelings.

The average 401(k) balance dropped below the six-figure mark to $97,200 this quarter, down 22.9% from a year ago, and a 28% increase from ten years ago. 

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