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Many investors too scared to take wing

The Modesto Bee – The tantalizing climb in the stock market has made hedge fund and mutual fund managers increasingly courageous, but millions of investors with 401(k) accounts remain reluctant to trust what burned them.

That could hurt them, and the market as a whole.

Some individual investors clutched the money they had left after the market plunged more than 50 percent from October 2007 until March and stopped adding to stock funds. A recent study found about 6 percent stopped contributing to 401(k) plans altogether as they blamed workplace retirement savings plans, rather than the investments within the 401(k) plans, for losses.

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