How To Protect Your Retirement

The changing fortunes of companies have affected the portfolios of their employees and retirees, costing people thousands of dollars in retirement savings. An unanticipated decline in wealth such as this is known as a negative wealth effect. "In theory, such an effect will result in a decline in consumption and an increase in saving," says economics professor Bradley Wilson, Ph.D. It also may cause a person to rely less on 401(k) plans and opt to manage a larger share of their own wealth portfolios. Good, easy-to-set-up alternatives are money market mutual funds. "Certainly 401(k)s are brainless decisions, but in the face of likely ruin people might search for this next best and next most brainless/costless saving vehicle." Contact Jennifer Park, Media Relations, 205-934-3888 or [email protected].