44% of Baby Boomers Might Be Making a Huge Investing Mistake
Investing for the future is challenging enough as it is, but investing during a global pandemic brings an entirely new set of challenges.
The average 401(k) balance dropped by nearly 20% during the first quarter of 2020, according to research from Fidelity Investments, and the average IRA balance declined by around 14% in that time period. The stock market has surged in recent weeks, but there's a chance another market crash may be on the horizon.
In other words, these are uncertain times for investors. While making smart financial decisions can be tough when nobody knows what the future has in store, there is one major mistake nearly half of baby boomers are guilty of making.
Source Fool.com