Retirement Confidence Is Down in 2020. We Can Blame COVID-19.
It's important to approach retirement with confidence in your ability to cover your expenses during your senior years. But a new survey by Principal reveals that confidence levels have taken a dive in the wake of COVID-19.
Last year, 18% of workers and 40% of retirees were confident they'd have enough money saved to live comfortably as seniors. This year, those percentages fell to 11% and 33%, respectively.
When we consider COVID-19's economic impact, it's easy to see why. Millions of Americans have already been forced out of work during the pandemic, and those who haven't are still grappling with income insecurity in the face of potential layoffs.
Source Fool.com
