21% of Americans Now Say They'll Retire Later Than Planned
The COVID-19 crisis has changed the way a lot of people plan to approach retirement. Some older workers, for example, are being forced to retire early despite a desire to keep holding down a job. But 21% of Americans now say they'll be retiring later than planned, according to a new Charles Schwab survey. And while delaying retirement may not be your ideal course of action, there are several benefits to going that route.
The sooner you retire, the sooner you'll need to start taking withdrawals from your 401(k) or IRA to pay your living expenses. On the other hand, if you delay retirement, you'll have a chance to pad your nest egg even more.
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Source Fool.com
