Here's How COVID-19 Is Affecting Near-Retirees' Outlook
It's no secret that COVID-19 has been hammering the economy since cases started multiplying back in March. Not only have investment portfolios dropped, but retirement plan values have sunk across the board. In light of that, it's not surprising to learn that 89% of employed and recently laid-off workers who are planning to retire within the next decade are worried about the financial impact COVID-19 will have on their plans. That's the latest from a Personal Capital survey, which also found that while about 63% of pre-retirees felt prepared for their senior years before the COVID-19 outbreak, only around 52% feel the same way now.
The effects of the ongoing pandemic could be huge for those people who are planning to leave the workforce within 10 years. Specifically, about 37% say they won't be able to enjoy the retirement lifestyle they wanted because of the financial hit they expect to take, and a little over 40% say that COVID-19 will delay their retirement plans.
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Source Fool.com
