Anne Tergesen
speaker
4,485 appearances
83 recordings
1 series
first heard Jul 2017
last heard Feb 2025
Anne Tergesen’s voice in public audio — every appearance, attributed to the second.
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Appearances
You know, if somebody is extremely risk averse and if they're at risk of selling all their stocks, if the market goes down, that can be a person who might benefit from increasing their allocation towards bonds.
But in general, with young people, the answer is to stick with stocks.
When new hires join a company, rather than waiting for them to get around to signing up for the 401k plan, the employer just automatically puts them in the plan.
And they're basically saving as a default rather than they have to proactively elect to save.
It's well documented that they've lagged on key measures like home ownership and earnings.
And there are a couple reasons for that.
One is that many millennials came into the job market during turbulent times, during the
great financial crisis in the aftermath of that.
So they got off to a more difficult start in the job market.
Millennials also have a lot of student debt compared to prior generations.
So that has really cobbled their ability to accumulate wealth at the same pace as prior generations.
What's allowed them to move ahead is actually something called automatic enrollment in 401k plans.
401k plans have over the past, say, 10 to 15 years, a large number of them have adopted what's called automatic enrollment, especially like the larger plans from large companies.
The way that works is it's just what it sounds like that when new hires join a company, rather than waiting for them to get around to signing up for the 401k plan,
The employer just automatically puts them in the plan and they can feel free to opt out if they want.
They're basically saving as a default rather than they have to proactively elect to save.
So the baby boomers came of age when the 401k was very new.
And at that point, there was no such thing as automatic enrollment.
It was entirely left up to them to decide whether to save and when to save.
And a lot of them got off to late starts when it came to enrolling in 401ks.
Showing 921–940 of 4,485 · page 47 of 225
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