Saving for Retirement: How to React to Market Volatility
A new poll conducted by Kiplinger and Barclay's reveals concerns about market swings and potential downturns. See how your savings—and confidence level—measure up
Many Americans saving for retirement are wary of stocks and have moved a significant portion of their money into cash. In the wake of future volatility for the stock market, they say they are willing to make more changes to their investments, make lifestyle compromises or delay retirement. Nearly half say the economy is slowing, nearly one-third believe the U.S. will be in a recession by the end of 2020, and more than one-third expect the market to decline during 2020. Plus, some four out of 10 respondents are checking their portfolio either daily or weekly.
This survey was conducted by Brown Oak Audience Insights between October 17 and October 21, 2019 and has a 3% margin of error. We surveyed a national sampling of 850 preretirees age 40 and above who have at least $100,000 in household net worth (excluding a primary residence). Respondents were equally divided between men and women.
The median amount saved for retirement among all respondents is $513,100, but among respondents 60 or older, that figure jumps to $707,760. Those figures are still well short of the median amount they expect to need in retirement: about $1.23 million. Even so, more than two-thirds are very confident or somewhat confident that they have saved (or will save) enough for a comfortable retirement.
