16% of Americans Have Made This Smart Move During COVID-19
The COVID-19 crisis has made a lot of people change their financial priorities. Some are boosting their emergency funds. Others are paying off high-interest debt. And 16% of Americans have made a similarly smart move at a time ridden with fear and doubt: They've increased their retirement plan contributions, according to a new TD Ameritrade survey. Not only that, but 31% of Americans are considering ramping up their IRA or 401(k) contributions due to the pandemic.
If you're out of work right now or have suffered a decline in income, then you may not be in a position to save for retirement at all, let alone increase your contribution rate. But if your income has held steady thus far during the pandemic, then it pays to ramp up on the long-term savings front.
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Source Fool.com
