How to Avoid a Financial Panic over Retirement
<p>The biggest impact of Covid-19 on people’s financial wellbeing is not that money has become more digital. Nor is it nervousness about losing their job tomorrow.</p>
<p>It’s their longer-term financial uncertainty. <em>Will I be ok when I go on retirement? What kind of support can I expect from the state? Do I need to work longer than I want to?</em></p>
<p>People are living longer but retiring sooner. Yet our research finds no shortage of confusion and anxiety as soon-to-be-retirees nervously eyeball their 401(k)s and dwindling savings. A <a href="https://www.nytimes.com/2021/07/02/business/economy/retire-early-pandemic-social-security.html" rel="noopener ugc nofollow" target="_blank">year of layoffs and lockdowns</a> has only added to this financial uncertainty.</p>
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