COVID-19 Has Forced 16% of Baby Boomers to Resort to This

The COVID-19 crisis has had a huge economic impact ever since U.S. case numbers started climbing in March. Not only have millions of Americans lost their jobs in its wake, but investment and retirement plan portfolios have taken their share of beatings.

It's not surprising, then, to learn that the pandemic is causing a large chunk of older Americans to change their retirement plans. In fact, 16% have already delayed retirement because of COVID-19, according to a recent TD Ameritrade survey, while 21% are considering it.

If you're nearing retirement, you may be in a strong enough financial position to move forward with it. Or, you may be too nervous to pull the trigger on retirement at a time when there's so much economic uncertainty. Both decisions have merit, but here's why it could pay to delay that milestone and wait things out.

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Source Fool.com