Public and private pension funds and employees' private retirement savings accounts have lost some 20 percent overall since mid-2007.
Retirement funds are among the most common forms of savings in the United States.
More than half of people surveyed in a recent poll have said they will have to work longer because the value of their retirement savings has declined.
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Comments: 4
As a 67 year old with retirement money in the market I am not worried (yet) since I don't intend to retire in the next 2-3 years. I don't need to see those stocks now. I can wait.
If the market stays down there is a good chance that prices in general will also come down which means I won't need as much money anyway.
The main thing is to have a continuing income and to take as little out of savings and investments as possible.