401(k)s drop amid market turmoil, but rate of savings increases

Turmoil in the stock market and runaway inflation has caused alarm among retirees as those living on savings see their retirement funds dwindle. The average 401(k) plunged nearly $10,000 in the first quarter of 2022, according to one major fund manager, as the major indexes flirted with falling into bear market territory. “I’ve planned carefully...