For people thinking about retirement in the coming days or months, they are said to be reconsidering their funds that have set aside as of right now because of the pandemic and the uncertainty in the market that it has created. People are considering putting their funds into an annuity because this will guarantee them income for the rest of their lives. More and more people are concerned about running out of money, and many have decided to just wait a bit longer.
Key Takeaways:
- Lack of confidence in retirement savings has made annuities a popular option.
- Women and those in their 50s are more pessimistic about retirement than men and those in their 60s and 70s.
- One expert says the pandemic and its aftermath have caused a ‘Retirement Reset’ moment.
“Sixty-five percent of respondents reported that their retirement investments had eroded since the March shutdown in the U.S., and nearly all said it was important to protect their retirement savings from volatility.”
Read more: https://www.thinkadvisor.com/2020/09/11/retirement-savers-seek-more-security-amid-pandemic-survey/
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