“More than a quarter of all workers say COVID has prompted them to move up their retirement date,” finds a survey released in February, by the National Institute for Retirement Security. One study even suggested that nearly 2 million older workers have left the labor force for good since the start of the pandemic.
The percentage of Americans who won’t be financially secure enough to maintain their pre-retirement standard of living has also increased, from 50% to 55%, according to the Center for Retirement Research.
Anxiety about these issues has been heightened by the pandemic. A survey by the National Institute for Retirement Security founds that more than half of Americans say that their concerns about being financially stable in retirement have increased this past year.
If you’re concerned about the possibility of having to retire early due to the effects of the pandemic, reach out to us. We’re always here to help.
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