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How Covid-19 changed retirement planning


How Covid-19 changed retirement planning
When to claim Social Security is the top question for new retirees.
March 15, 2021
3
MINS
The Covid-19 pandemic has affected many Americans’ concerns and plans for retirement. The pandemic’s impact has been uneven, with some workers enjoying the newfound freedom of working from home, allowing them to extend their careers without the dreaded commute, while others have lost their jobs or decided to take early retirement as a result of health concerns.
“The  economic fallout from the pandemic may create substantial uncertainty about financing retirement that could trigger Americans to work longer or rethink retirement altogether,” according to a new report from the National Institute on Retirement Security. ....

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Wealthier clients saving in 401(k)s may fall into tax trap


Wealthier clients saving in 401(k)s may fall into tax trap
Too much money in tax-deferred retirement accounts could undermine clients financial plans if taxes rise in the future to pay for today’s exploding government spending.
March 1, 2021
4
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While many Americans worry that they won’t be able to save enough for retirement, some financial advisers are concerned that their wealthier clients are saving too much in the wrong type of retirement account.
Over the past few weeks, several new studies and surveys have documented growing concerns over a looming retirement crisis, partially tied to the Covid-19 pandemic and subsequent economic slowdown. ....

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