All is not well in retirement-land; 401(k) loans are getting bigger and baby boomers are putting too much money into stocks.
That’s according to Fidelity Investments’ latest quarterly retirement savings analysis of 401(k)s and individual retirement accounts (IRAs), which found that many older participants in 401(k)s, including boomers nearing retirement age, have stock allocations higher than industry experts recommend for their age group.
In comparing average asset allocations in the accounts to an age-based target-date fund (TDF), Fidelity found that 18 percent of people aged 50–54 had the allocation to stocks in their accounts that were at least 10 percent or even more above the recommended allocation level.
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