Households lost trillions in wealth in the last three months of 2018, most recent data from the Federal Reserve show. These losses starkly illustrate the risks that people face when they need to make retirement and savings decisions mainly on their own.
Many people save for retirement with mutual funds and retirement savings accounts which are fraught with pitfalls. People need to make a variety of consequential decisions, often without having the necessary information and resources. They then end up with too much risk, as a rather large drop in household wealth at the end of 2018 highlighted.This article was originally published in Forbes.