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After One Year Of Covid-19, America s Retirement Crisis Is Little Changed | Smart Change: Personal Finance

Taylor Tepper - Forbes Advisor A year has come and gone since the beginning of the Covid-19 pandemic in the United States in March 2020, upending all of our lives. Hundreds of thousands of Americans have lost their lives, millions have lost their jobs and practically every kid (and parent) in America has endured school at home for months on end. We’ve changed how we work, how we shop and how we socialize. But there’s one thing that hasn’t changed: retirement. Despite concerns that folks might raid their 401(k)s or companies would axe benefits en masse, most workers saved for retirement in 2020 much as they would any other year.

After One Year Of Covid-19, America s Retirement Crisis Is Little Changed

After One Year Of Covid-19, America’s Retirement Crisis Is Little Changed March 16, 2021 5:00 AM Taylor Tepper - Forbes Advisor Posted: Updated: March 17, 2021 7:15 PM A year has come and gone since the beginning of the Covid-19 pandemic in the United States in March 2020, upending all of our lives. Hundreds of thousands of Americans have lost their lives, millions have lost their jobs and practically every kid (and parent) in America has endured school at home for months on end. We’ve changed how we work, how we shop and how we socialize. But there’s one thing that hasn’t changed: retirement. Despite concerns that folks might raid their 401(k)s or companies would axe benefits en masse, most workers saved for retirement in 2020 much as they would any other year.

Worried About Retirement Costs? Cutting This Big Expense Could Help

Channel3000.com December 16, 2020 7:22 AM newsfeedback@fool.com (Kailey Hagen) Posted: Updated: December 18, 2020 6:10 AM Housing is most people’s largest expense at every stage of their lives, accounting for roughly one-third of their expenditures, according to the latest Bureau of Labor Statistics Consumer Expenditure Survey. You probably can’t get rid of it entirely in retirement unless you move in with a generous family member, but there are a few things you can try to cut your housing costs and make your savings last a little longer. Here are five ideas. 1. Pay off your home before retirement Paying off your home before you enter retirement can significantly reduce your living expenses, but not everyone can afford to do this. There are also times it might not make sense. If you don’t plan to remain in that area in retirement, you might be better off trying to sell the home to get out of the mortgage instead.

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