An online survey by Fidelity Investments of people haven’t retired yet reveals more than 80% of them believe the COVID-19 pandemic negatively impacted their retirement plans. As a result, many of them feel they’ve fallen behind with no clear idea of how to get back on track.
The State of Retirement Planning survey asked 1,204 adults in different age ranges to share their concerns about the current status of their retirement planning. Those with a plan already in place voiced more confidence in their ability to achieve their goals for building a nest egg.
The greatest concerns expressed included the stress of monthly bills and saving for the future.
For seniors who are already in retirement, COVID-19 also had an effect. Some had to put off plans to sell their homes while others were forced to keep working to make ends meet.
Council of Seniors Wants to Help Retirees
Every little bit of income in retirement makes things easier for seniors. That’s why Council of Seniors is dedicated to getting Congress to pass The SAVE Benefits Act. Our government must make up for the Social Security cost of living adjustment (COLA) money that was not received over a series of years. Once passed, retirees will be reimbursed $581 that they’ve deserved all along.
Please help by signing our petition today. Your active participation in returning this money to seniors and helping yourselves will be greatly appreciated.
Has the COVID-19 pandemic affected your retirement plan? Leave us a comment and let us know.
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