Retirement Insecurity in the Time of COVID-19: The Next Shoe to Drop?

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“Americans of all ages are increasingly worried about their finances now that the coronavirus has infected the economy. So far, the media coverage has focused more on the fallout for working families who are struggling to make ends meet, after losing their jobs, and income, as businesses shutter for the foreseeable future. There’s been far less attention to the financial impact on older adults, who are not only at higher risk of serious illness if they get the coronavirus, but also financially vulnerable if the pandemic leads to a sustained drop in their income and retirement savings. Seniors already face significant out-of-pocket costs for their health care and as a share of their income”

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