Warning: Study Shows the 2020 Recession Could Cut Your Retirement Income by 10 Percentage Points
This year has been the year of bad news, with the novel coronavirus causing a public health disaster and a recession. Sadly, there's one more piece of bad news to contend with: COVID-19 is probably going to have far-reaching financial effects and could leave you with less income as a retiree.
In fact, according to a recent report from The New School, middle-income Americans are facing a higher risk of unemployment during this recession, a greater likelihood of their investments performing poorly, and an increased chance of leakage from their retirement accounts. The combined effect of all this economic trouble will likely leave them much less prepared for retirement.
Image source: Getty Images.
Source Fool.com
