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Dr. Ronald Premuroso, Accounting Instructor, Western Governors University School of Business

401(k) plans and stock market volatility: What you need to know

It's been a wild ride. iStock/Getty Images Plus

With stock market charts resembling the contours of a roller-coaster ride in recent days, many Americans could be forgiven for eyeing their 401(k)s with a little concern.

Retirement savings are crucial to the financial well-being of millions of especially older people in the U.S., so the concern is understandable.

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