Fidelity to Baby Boomers: Lay Off the Stocks
- The generation has been steadily increasing its stock wagers
- The average 401(k) account dipped in volatile third quarter
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Hey, baby boomers: lay off the stocks.
That’s the message from Fidelity Investments in its third-quarter retirement report. Boomers, or the generation born between 1944 and 1964, have been riding a 10-year bull market into retirement, steadily upping bets on stocks to boost 401(k) returns and exposing them to unnecessary risk.