Boomers' Retirement Accounts Hit Harder than Younger Generations' in 2022 Market Downturn

Retirement accounts for baby boomers still lag 2021 levels after stock and bond losses in 2022. The average boomer 401(k) was down 12% through mid-2023.

Millennials have largely recovered 2021 losses. Gen X savers remain down but less than boomers. Younger investors buy low when stocks fall.

Older investors tend to hold more bonds. Bonds lost over 10% in 2022, wiping out their value as a hedge against stocks.

Retirees are forced to "sell low," accelerating depletion of savings. Drawing down in a down market leaves less to recover later.

Boomers are less likely to work with financial advisers. Now may be a good time to get professional help reallocating investments.