8/25/2021
How the Pandemic Has Affected Retirement | Sylvester Knox | Professional Overview
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How the Pandemic Has Affected Retirement by Sylvester Knox | Aug 25, 2021 | Personal Finance, Retirement
Now that the pandemic is over a year old, many workers are starting to consider their futures again. The present is still very much up in the air, but things are stabilizing to some degree, at least enough for many workers to take a moment and consider their current retirement expectations. The good news is that for many, their finances weren’t harmed by the pandemic. In fact, they might actually have the chance to save more money, given reduced chances to actually spend money. On the other hand, many wound up having to draw upon their retirement funds during the crisis. They did this just to pay bills and stay afloat during lockdowns and economic upheaval. Four out of five Americans believe that pandemic events impacted their plans for retirement, with one in three assuming getting back on track will take several years because of fewer hours, job losses, or hitting up their retirement savings for withdrawals. Still, most everyone is relatively confident that they can still retire when they would like to do so. Even though the previous year proved to be a turbulent ride, most Americans with plans for retirement should be happy to know that the economic foundations for future planning look as https://sylvesterknox.net/how-the-pandemic-has-affected-retirement/
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