While retirement is an exciting time, it can also be nerve-racking for many people. For some, living on a fixed income, coping with declining health, and dealing with the worry that they’ll outlive their savings is a concern. Unfortunately, retirement during COVID-19 has heightened risks.
Transamerica Center for Retirement Studies conducted a survey in 2020 to learn more about retirees’ finances during the pandemic and how they prepared for retirement during COVID-19 and their working years. Here are some noteworthy findings:
The pandemic’s economic impact on retirees can teach us several valuable lessons, including:
Together you and your financial professional can review your unique situation and determine how retirement during COVID-19 may affect your plans and options to help you save more. Contact your financial professional to get started.
SWG1594065-0421c
Disclosure: The sources used to prepare this material are believed to be true, accurate and reliable, but are not guaranteed. This information is provided as general information and is not intended to be specific financial or tax guidance. When you access a link you are leaving our website and assume total responsibility for your use of the website you are linking to. We make no representation as to the completeness or accuracy of information provided at this website. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, websites, information and programs made available through this website.
Hyde Group Wealth Management & Insurance Solutions is the culmination of over 20 years in the financial services and insurance industry. We understand there is not a one size fits all strategy. For this reason, we take a comprehensive approach to holistic insurance and financial services planning. We tailor our solutions to the specific and unique needs of each individual, family, or business. Our goal is to put clients first, and take care of them as we would our own family. Contact us today to get started.