Many in 401(k)s Aren't Confident to Retire Crain's Cleveland Business (09/03/00) Vol. 21, No. 36 p.20; Schwartz, Nelson D.
A new study by Vanguard Group shows that 60 percent of
defined contribution plan participants are confident that they
will have enough money to retire--a drop from 66 percent in 1998.
Only 34 percent described themselves as experienced investors,
down from 44 percent. Vanguard managing director F. William
McNab says that market volatility is worrying plan participants.