Many baby boomers are carrying too much risk in their retirement portfolios because of the stock market’s rapid rise during the past five years. 

While the stock market boom has propelled the average 401(k) balance up 50% in the past five years it has “increased exposure to the negative impact of a market downturn,” according to Fidelity Investments in its quarterly savings analysis of its 401(k) and individual retirement accounts.

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