Economic Crisis Scrambles Retirement Math

Mark Trumbull, The Christian Science Monitor: "The recession has pushed retirement further out on the horizon for millions of Americans - and is putting severe strain on the 401(k) model of retirement saving. If that wasn't already clear, a bout of stock market selling early this week brought the challenge into sharp relief, as the Standard & Poor's 500 index closed at a level not seen since 1996, down more than 50 percent in 17 months. Coupled with huge losses of home equity in the housing market, the result is a historic decline in net worth for US households."

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