This Percentage of Americans May Be Postponing Retirement Due to COVID-19

Maurie Backman, The Motley Fool
This Percentage of Americans May Be Postponing Retirement Due to COVID-19

If you've lost your job during the pandemic, or have lost money in your 401(k) or IRA, you may be thinking of delaying retirement. In fact, 26% of Americans say they may postpone retirement due to the ongoing economic crisis, according to the May 2020 Simplywise Retirement Confidence Index. Right now is a bad time to start taking retirement plan withdrawals because for the most part, account balances are down, so removing funds from your 401(k) or IRA could mean locking in losses.