Anne Tergesen

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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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WSJ Your Money Briefing · For Stock Investing, Older Americans Are Thinking Young · 10 Jul 2023 podcast

So they see no reason to change that approach.

So people have different reasons for making that decision.

I spoke to one man in New Mexico who got started saving his 401k on the later side.

He tried to invest 60% of his retirement savings in stocks and 40% in bonds, but he felt that the returns weren't adequate to get him where he needed to go by the time he hopes to retire, which is in a few years.

So he decided to shift more of his money into stocks in order to hopefully raise the return that he realizes on the portfolio, basically to boost his return and boost his savings.

Well, people in this age group have seen ups and downs in the market, but they've also seen the market recover, and they've experienced that themselves.

But for a lot of people, they've seen the market move around quite a bit, and they've also seen themselves be rewarded for holding stocks, for not bailing out of stocks.

You know, during 2008, the market dropped really significantly fairly quickly, and some people bailed out of stocks.

And then they came to regret it the next year because the market bottomed out a year later.

And so those who had fled stocks and put everything in cash, all of a sudden the market was just rising, and they missed out on being able to buy at these bargain prices.

So I think some people had that experience and they learned the lesson not to do that, that that was a counterproductive move in that situation.

So they've sort of internalized that lesson.

So it's very interesting what's happened in the 401k area.

Basically, over the past 20 years, there's been a growing adoption of these automated portfolios.

They're called target date funds.

And more and more 401k plans are automatically enrolling clients.

new employees, and they're putting them into these target date funds, which are sort of professionally managed portfolios of stocks and bonds.

And for younger people, most of these target date funds are heavily exposed to stocks.

So a lot of younger people go into those professionally managed portfolios.

They don't even have to make a decision about how to invest their money.

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