For months now, many experts have been warning that a recession will be coming in 2023. While it's impossible to know for certain when or if a recession will happen, it's a daunting time for retired seniors.

The past year's market downturn may have already hurt your savings, and even with Social Security's massive cost-of-living adjustment for 2023, inflation is making it harder for seniors to make ends meet.

If we do face a recession later this year, how will it affect your retirement? And if you're not retired yet, is now really the right time to do so? Here's what you need to know.

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Source Fool.com