$2 trillion wiped out of retirement funds

Nest eggs dwindle by 20% in 15 months
By Sandra Block
USA TODAY
10/08/2008

The financial meltdown has demolished Americans' retirement savings, wiping out $2 trillion — or about 20% of value — in the past 15 months, Congress' top budget analyst said Tuesday.

This estimate probably comes as no surprise to millions of Americans who have reviewed their 401(k) statements in recent weeks.

"This is a financial panic right now, and one reason it feels so bad is that everything is going down," says Kurt Brouwer, a financial planner in San Francisco. the rest

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