Will I Lose All My Retirement Savings?

Here's an article from CNN's Gerri Willis for people worried about losing their retirement money.

Stocks Friday plummeted on fears that the banks might be nationalized by the federal government. The move took the S&P 500 index to its lowest levels in nearly 11 years.
Are we going to lose all our money? And, how can I protect myself?

There have been losses in retirement accounts. The average 401(k) balance is nearly $50,000, which is enough to keep a couple going for a couple of years in retirement at best. 401(k) balances dropped 27% last year from $69,200 to $50,200 according to Fidelity.
The fears that the financial rescue attempts are doomed to fail is overblown.

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by Rob Wildhack