Retirement Saving Isn't a Priority During the COVID-19 Crisis, and That Isn't a Bad Thing
Saving for retirement is one of the most important things you'll do with your money over your lifetime. That's why it's not surprising that 22% of all workers listed it as their top financial priority before the COVID-19 pandemic, according to research from the Transamerica Center for Retirement Studies.
But COVID-19 has changed things in many ways, including reducing the number of workers prioritizing saving for their later years. In fact, the number of people putting retirement savings first has fallen to 17% while there's been an increase in the number of workers citing saving for emergencies as their most important goal.
Normally, a drop in the number of people working toward a secure retirement would be a bad thing. But there are times it absolutely makes sense to prioritize emergency preparedness. Here's what to consider when deciding if that's the best choice for you right now.
Source Fool.com
