The S&P Was Up in 2021, but Most Retirees Didn't Benefit
In 2021, the S&P 500 was up over 20%. The S&P 500 is a financial index that tracks the performance of around 500 of the largest companies in the United States. Most people consider its return to reflect the stock market's performance as a whole. S&P index funds are a very popular investment, so many people saw their portfolios perform well.
Unfortunately, the majority of retirees weren't among those people. In fact, according to a recent report issued by ThinkAdvisor, 57% of older adults reported their retirement savings were down by more than 10% in 2021. Another 10% of older adults indicated they'd suffered a decline of less than 10% in their retirement savings.
By contrast, just 16% of survey respondents said they'd experienced a gain of over 10% in 2021, while 6% saw some increase but not such a large one, and 11% found their savings stayed about the same.
Source Fool.com
