When more than 1 million college graduates entered the work force last fall, they began the first of what could be seven job moves during a 40-year working career, according to the Bureau of Labor Statistics1.
In fact, according to a recent study by Fidelity Investments, one-third of today’s new work force could be compiling a series of stand-alone retirement savings accounts, which may not be as diversified as they think2.
With each job change, millions are faced with the increasingly challenging task of managing their workplace retirement savings accounts.
“As American workers continue to change jobs, our survey tells us that approximately 32 million have left behind retirement accounts with past employers,” said Jeffrey R. Carney, president of Fidelity Personal Investments.
“Our research also shows that 41 percent of investors with multiple retirement accounts believe that maintaining separate accounts makes for a more diversified portfolio. While Americans are more savvy about investing, many have lost sight of what ‘diversification’ really means -; spreading out money over different types of investments...
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