10 years later: the financial crisis

What has changed, and stayed the same in the decade since the Great Recession began?

The financial crisis, the Great Recession, and the stock market downturn hit a lot of people hard. Millions lost jobs, virtually every investor suffered significant losses, and many of those impacts never fully went away.

10 years later, we looked at workplace savings data for people who stayed in their plans for the last 10 years, conducted a survey, compared the results to national data, and checked in with professional fund managers to see what changed, and what stayed the same.

The lessons for savers

Wealth is up

Sticking with an investment plan worked, for the people who were able to do it.

Hitting pause was costly

People who stopped contributing to workplace savings plans never caught up.

Focus on savings

Survey results suggest people paid off debt and saved more post-crisis.

Views from the pros

"The cycle still matters"

Dirk Hofschire
Senior Vice President, Asset Allocation Research

"Beware of fear and greed"

Geoff Stein
Manager, Fidelity Asset Manager Funds

"Look for companies that can prosper in tough times"

Charlie Chai
Manager, Fidelity Select Technology Portfolio (FSPTX)