The Move 1 in 4 Americans Is Making About Retirement

If people were worried about having enough money for retirement before the pandemic, it's nothing to what they're feeling now. The "great lockdown" has deprived millions of Americans of their normal source of income and many have actually had to tap their retirement savings to cover their living expenses. Some are returning to work to find their companies can no longer afford to offer a 401(k) match, placing the burden of saving enough entirely on their shoulders.

Yet most people still plan to retire someday, and that means adapting as best as they can to the circumstances. Approximately 26% of workers are now planning to postpone retirement in light of the current economic circumstances, according to a SimplyWise survey. It's a reasonable plan for those who aren't able to save as much as they'd like to right now, but it carries risks. Here are a few things you should know before deciding if this is the right move for you.

Image source: Getty Images.

Source Fool.com