Many people approaching retirement age today are heavily invested in stocks, potentially leaving their savings vulnerable to the next recession.
Americans are more financially prepared for retirement than they were just a few years ago, recent research found."If there was a market downturn, they could lose a significant chunk of what they've worked so hard to save," said Meghan Murphy, the vice president of thought leadership at Fidelity.
Roth IRA accounts among people 65 to 84 were more than 63 percent invested in equities, according to the Institute. The S&P 500 index rose more than 200 percent over the last decade. As a result, stocks have taken on a greater role in many portfolios."People love to see the market go up," Murphy said,"but you need to watch your equity exposure, too."
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