{"id":1115,"date":"2020-09-09T16:34:00","date_gmt":"2020-09-09T16:34:00","guid":{"rendered":"https:\/\/www.simplywise.com\/blog-2023\/?p=1115"},"modified":"2023-12-04T01:46:05","modified_gmt":"2023-12-04T01:46:05","slug":"september-2020-simplywise-retirement-confidence-index","status":"publish","type":"post","link":"https:\/\/www.simplywise.com\/blog\/september-2020-simplywise-retirement-confidence-index\/","title":{"rendered":"Retirement Confidence Index"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1115\" class=\"elementor elementor-1115\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5c0d46f9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c0d46f9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4d81b48\" data-id=\"4d81b48\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-618ed71d elementor-widget elementor-widget-text-editor\" data-id=\"618ed71d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<!-- wp:paragraph -->\n<p>September 2020<\/p>\n<!-- \/wp:paragraph -->\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cae6493 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cae6493\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a7e5a3c\" data-id=\"a7e5a3c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6089191 elementor-widget elementor-widget-text-editor\" data-id=\"6089191\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The current public heath, economic, and political reality in the United States has created <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\">enormous uncertainty for many Americans<\/a>. A majority of citizens lack the savings to last them even three months.\u00a0That savings gap is even more drastic when it comes to retirement. Indeed, the pandemic has wrought havoc on the retirement plans of many, driving some into early retirement and forcing others to postpone long-anticipated retirement plans. A majority of people today are more concerned than ever about retirement. According to the September 2020 SimplyWise Retirement Confidence Index, 58% of Americans are more concerned about retirement today compared to a year ago. The bi-monthly study polled 1,154 Americans ages 18+ between September 8-10, 2020. It explored how people are looking at retirement,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/social-security-retirement-benefits\/\">Social Security<\/a>, and savings today, particularly in light of COVID-19.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51e4e31 elementor-widget elementor-widget-text-editor\" data-id=\"51e4e31\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-38ab976 elementor-widget elementor-widget-heading\" data-id=\"38ab976\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Key Findings<\/h1>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-b0df80f elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"b0df80f\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\u00a0\n<ul>\n<li><b>15%<\/b>\u00a0of people who lost their job due to COVID-19 are now planning to retire earlier than anticipated\u2014and 1 in 10 people in their 50s and 60s are now planning to retire earlier than expected.<\/li>\n<li><strong>58%<\/strong>\u00a0of people in their 50s are not confident they\u2019ll be able to maintain their same quality of life in retirement.<\/li>\n<li><strong>30%<\/strong>\u00a0of people in their 50s saved $0 for retirement in the last year\u2014and 43% of them couldn\u2019t last more than a month off their savings.<\/li>\n<li><strong>27%<\/strong>\u00a0of Americans are now considering tapping their 401(k)\u2014a pandemic high.<\/li>\n<li>45% of Hispanic, 39% of Black and 34% of White Americans couldn\u2019t last a month off their savings.<\/li>\n<li><strong>36%<\/strong>\u00a0of Americans think the economy is going to get worse in the next 6 months. And 51% believe it\u2019s likely the stock market will decline 20% over the next 6 months.<\/li>\n<li><strong>63%<\/strong>\u00a0of Americans feel confident in the future of Social Security if Biden is elected. Only 44% feel confident if Trump is re-elected.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-99cbfdb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"99cbfdb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-948ed0f\" data-id=\"948ed0f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb11748 elementor-widget elementor-widget-text-editor\" data-id=\"eb11748\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2 style=\"text-align: center;\"><strong>The majority of Americans remain concerned over retirement<\/strong><\/h2>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ee2fff elementor-widget elementor-widget-image\" data-id=\"6ee2fff\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"396\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.38.21-AM-1024x633.png\" class=\"attachment-large size-large wp-image-1119\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.38.21-AM-1024x633.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.38.21-AM-300x186.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.38.21-AM-768x475.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.38.21-AM-1536x950.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.38.21-AM-2048x1267.png 2048w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ab1d439 elementor-widget elementor-widget-text-editor\" data-id=\"ab1d439\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-0cfc931 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"0cfc931\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-86915b4 elementor-column elementor-col-100 elementor-top-column\" data-id=\"86915b4\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-1749e56 elementor-widget elementor-widget-heading\" data-id=\"1749e56\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h2 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Retirement confidence remains low<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-77d9316 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"77d9316\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-3611cd5 elementor-column elementor-col-100 elementor-top-column\" data-id=\"3611cd5\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-215874c elementor-widget elementor-widget-text-editor\" data-id=\"215874c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>An overwhelming 58% of people are more concerned about retirement today than they were at this time last year. That is compared to the 56% in this year\u2019s May Index and 62% in the July Index who reported being more concerned.\u00a0<\/p>\n<p>For those not yet claiming <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\/internal-revenue-service\">Social Security benefits<\/a>, financial concerns are among the highest anxieties around retirement. Fifty-seven percent worry about Social Security drying up, and 52% worry they will outlive their savings. For Americans who are currently on Social Security, 54% now worry about their benefits drying up\u2014a significant increase from the 29% reported in July. Forty-seven percent are concerned about their ability to pay for medical bills in retirement. Another 47% are concerned about their ability to pay daily living expenses when they retire.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a5a3b46 elementor-widget elementor-widget-image\" data-id=\"a5a3b46\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"69\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.43.34-AM-1024x110.png\" class=\"attachment-large size-large wp-image-1120\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.43.34-AM-1024x110.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.43.34-AM-300x32.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.43.34-AM-768x83.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.43.34-AM-1536x165.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.43.34-AM-2048x221.png 2048w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4019f8c elementor-widget elementor-widget-text-editor\" data-id=\"4019f8c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The reported concern was worst for those closest to retirement. For Americans in their 50s, 65% are now worried that Social Security will be dried up by the time they retire. And 50% of them are concerned about paying for daily living expenses in retirement. A full 58% of people in their 50s are not confident they\u2019ll be able to maintain the same quality of life they enjoy today once they begin retirement.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42cd654 elementor-widget elementor-widget-image\" data-id=\"42cd654\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"400\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/greatest-concerns-for-retirement-for-people-in-their-50s.svg\" class=\"attachment-large size-large wp-image-1121\" alt=\"retirement concerns\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b6d5589 elementor-widget elementor-widget-text-editor\" data-id=\"b6d5589\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Similar to the results of the May 2020 and July 2020 Indices, the September Index found that 43% of American workers fear they will not be able to retire at all. That number is even higher for younger workers. In fact, 47% of millennials today fear they will be working their whole lives.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c0df93 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"0c0df93\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#0c0d0e;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon .elementor-divider-separator:before,.elementor-widget-divider--view-line_text .elementor-divider-separator:after,.elementor-widget-divider--view-line_text .elementor-divider-separator:before{display:block;content:\"\";border-bottom:0;flex-grow:1;border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--element-align-left .elementor-divider .elementor-divider-separator>.elementor-divider__svg:first-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-left .elementor-divider-separator:before{content:none}.elementor-widget-divider--element-align-left .elementor-divider__element{margin-left:0}.elementor-widget-divider--element-align-right .elementor-divider .elementor-divider-separator>.elementor-divider__svg:last-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-right .elementor-divider-separator:after{content:none}.elementor-widget-divider--element-align-right .elementor-divider__element{margin-right:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-837b361 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"837b361\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-08b6b70\" data-id=\"08b6b70\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77545ec elementor-widget elementor-widget-text-editor\" data-id=\"77545ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h1><strong>State of Work in Retirement<\/strong><\/h1>\n<p><br \/>Many Americans nearing retiring age have had their employment or finances upended by the pandemic. Of people in their 50s, 29% are now planning to postpone retirement given the current economic climate. For others, COVID-19 has forced them into early retirement, whether because of health concerns or their employers. Of those who lost their job due to the pandemic, 15% are now planning to retire earlier than they anticipated. Of all Americans in their 50s and 60s, one in ten are now planning to retire earlier than they had anticipated.<br \/>For many more, retirement simply won\u2019t mean the end of work. The September Index found that more Americans than ever are planning to work into retirement. Today, 73% of workers plan to work after they claim Social Security retirement benefits. That is up from 67% this May and 72% in July. Plans to delay retirement may be attributed to the fact that only 63% of workers surveyed are making what they made prior to COVID-19.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-54f5c93 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54f5c93\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-10c5575\" data-id=\"10c5575\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2bff6cf elementor-widget elementor-widget-image\" data-id=\"2bff6cf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/americans-plans-to-work.svg\" class=\"attachment-large size-large wp-image-1122\" alt=\"Americans plans to work in retirement\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-098f5f6 elementor-widget elementor-widget-text-editor\" data-id=\"098f5f6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Interestingly, for current Social Security retirement beneficiaries in their 60s and 70s, the numbers look different. Half of our survey respondents who are collecting retirement benefits today and in that age group are working, with the majority working part time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6882188 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6882188\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-132007f\" data-id=\"132007f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ae3bc86 elementor-widget elementor-widget-image\" data-id=\"ae3bc86\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"173\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.53.45-AM-1024x276.png\" class=\"attachment-large size-large wp-image-1123\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.53.45-AM-1024x276.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.53.45-AM-300x81.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.53.45-AM-768x207.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.53.45-AM-1536x414.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-11.53.45-AM-2048x552.png 2048w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d0f796d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d0f796d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5e2d4bd\" data-id=\"5e2d4bd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22db711 elementor-widget elementor-widget-text-editor\" data-id=\"22db711\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The number of those working in \u201cretirement\u201d is indeed high. However, the disconnect with the 73% who plan to work and the 50% who are in reality working in retirement could be due to a few factors. For example, this could be yet another indicator of the anxiety of financial planning for retirement. In fact, many people count on having their work income into their 60s and 70s. And yet, health issues or unexpected job losses (like many are facing today) can force one into early retirement.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2e3d1aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e3d1aa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b5827af\" data-id=\"b5827af\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-18626fe elementor-widget elementor-widget-template\" data-id=\"18626fe\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/elementor\/css\/custom-pro-widget-call-to-action.min.css?ver=1764022918\">\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de6c8a9 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"de6c8a9\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f84fc75 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f84fc75\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8a8f96c\" data-id=\"8a8f96c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-85306c0 elementor-widget elementor-widget-text-editor\" data-id=\"85306c0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-20188dc elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"20188dc\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-b9a4288 elementor-column elementor-col-100 elementor-top-column\" data-id=\"b9a4288\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-3a6ba1d elementor-widget elementor-widget-heading\" data-id=\"3a6ba1d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">State of Savings<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-19c6506 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"19c6506\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-39f046f elementor-column elementor-col-100 elementor-top-column\" data-id=\"39f046f\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-018fe0b elementor-widget elementor-widget-text-editor\" data-id=\"018fe0b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>The September Index found that 30% of Americans saved nothing for retirement in the last year. In fact, the majority (56%) saved under $1,000 in the last year. The results were similar to those of May and July, when one in three Americans saved $0 for retirement.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33ed3d7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33ed3d7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-661af95\" data-id=\"661af95\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9077d9e elementor-widget elementor-widget-image\" data-id=\"9077d9e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"640\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/how-much-americans-saved-for-retirement-in-the-last-year.svg\" class=\"attachment-large size-large wp-image-1124\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-89fb1a1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"89fb1a1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b9af1c5\" data-id=\"b9af1c5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4a71d15 elementor-widget elementor-widget-text-editor\" data-id=\"4a71d15\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The savings numbers were even more dismal for older populations. Of Americans in their 50s, 30% saved $0 for retirement in the last year. And 43% of people in their 50s couldn\u2019t last more than a month off their savings. These numbers are particularly troubling; financial advisors recommend\u00a0<a href=\"https:\/\/www.synchronybank.com\/blog\/median-retirement-savings-by-age\/\">saving the\u00a0<em>most<\/em>\u00a0for retirement during your 50s and early 60s.<\/a>\u00a0This is because those are often a worker\u2019s peak earning years, and a time when they are\u00a0eligible to contribute beyond their retirement account\u2019s maximum annual contribution limit.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-24bd3d5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"24bd3d5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3c1b099\" data-id=\"3c1b099\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-637bf82 elementor-widget elementor-widget-image\" data-id=\"637bf82\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"556\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/how-long-people-in-their-50s-could-live-off-their-entire-savings.svg\" class=\"attachment-large size-large wp-image-1125\" alt=\"how long will my retirement savings last\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-667da77 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"667da77\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-75d0585\" data-id=\"75d0585\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1090e8d elementor-widget elementor-widget-text-editor\" data-id=\"1090e8d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There was also a gender and racial divide in saving.\u00a0When asked how long they could afford to not work and live off their savings, 36% of all Americans could not last a month. For men, however, 31% could last just a month compared to 40% of women. For Hispanic and Black Americans, 45% and 39% respectively could last a month off their savings. That is compared to just 34% of White and 32% of Asian Americans.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a59fb63 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a59fb63\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-39b85fb\" data-id=\"39b85fb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-59c92bb elementor-widget elementor-widget-image\" data-id=\"59c92bb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"381\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Americans-unable-to-last-more-than-a-month-off-their-savings.svg\" class=\"attachment-large size-large wp-image-1126\" alt=\"how much should i have in savings\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1b0f2b elementor-widget elementor-widget-text-editor\" data-id=\"b1b0f2b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>And for American workers currently furloughed or unemployed due to COVID-19, a stark 45% could not last a month off their savings. And 26% could not last even two weeks off their savings.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-665ef3f elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"665ef3f\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e20e2b5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e20e2b5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7cb2854\" data-id=\"7cb2854\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-597feae elementor-widget elementor-widget-text-editor\" data-id=\"597feae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-74e6677 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"74e6677\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-aa218a5 elementor-column elementor-col-100 elementor-top-column\" data-id=\"aa218a5\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-fbf4189 elementor-widget elementor-widget-heading\" data-id=\"fbf4189\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Growing Financial Insecurity<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-6c88c81 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"6c88c81\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-718845d elementor-column elementor-col-100 elementor-top-column\" data-id=\"718845d\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-e9b104f elementor-widget elementor-widget-text-editor\" data-id=\"e9b104f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p><br \/>Despite the stock market volatility resulting in recent record highs, the reality for most Americans is that the pandemic has ravaged employment opportunities and savings, and created new opportunity for <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\/hulu\">scams and targeted fraud<\/a>. In fact, 42% of Americans would not be able to come up with $500 cash right now without selling something or taking out a loan. This number is slightly up from the 38% recorded in May and the 40% recorded in July.<\/p>\n<p>That number is also worse for people whose jobs or income have been impacted by the pandemic. While the\u00a0<a href=\"https:\/\/www.cnbc.com\/2020\/09\/04\/jobs-report-august-2020-.html\"><u>unemployment rate has fallen sharply<\/u><\/a>, many Americans are still out of work or furloughed. And many more are working but with paycuts compared to their pre-COVID-19 salaries. Our September Index found that of those currently working today, 27% are working at a reduced income level compared to what they made pre-pandemic. For workers furloughed or let go due to COVID-19, 63% could not come up with $500 cash today. That is up from 56% in July. And it is compared to just 30% of people who currently work today who could not come up with that money.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-50e7235 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"50e7235\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c74a12b\" data-id=\"c74a12b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c5d0229 elementor-widget elementor-widget-image\" data-id=\"c5d0229\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/workers-let-go-or-furloughed-due-to-COVID-19.svg\" class=\"attachment-large size-large wp-image-1127\" alt=\"A majority of workers let go or furloughed due to COVID could not come up with $500 cash\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-10e2342 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"10e2342\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d1ea5a9\" data-id=\"d1ea5a9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-150eebc elementor-widget elementor-widget-text-editor\" data-id=\"150eebc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For many, the \u201crainy day\u201d for which they set aside emergency savings has arrived. Given the economic climate, 12% of respondents are now planning to withdraw from their emergency savings. For those let go due to the coronavirus pandemic, 24% are planning to withdraw from emergency savings.<\/p>\n<p>Yet even more Americans are planning to tap their retirement savings. Fourteen percent said they plan to dig into their retirement accounts. While financial advisors encourage those in their 50s to be saving at maximum levels to\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/06\/18\/how-to-get-serious-in-your-50s-about-planning-for-retirement.html\">\u201ccatch up\u201d on their retirement savings<\/a>, our survey found that a high of 13% in that age group are instead withdrawing from those savings to pay the bills today.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c3bb941 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c3bb941\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9c8db9c\" data-id=\"9c8db9c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9b11012 elementor-widget elementor-widget-image\" data-id=\"9b11012\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/people-in-their-50s-planning-to-withdraw-from-retirement-accounts.svg\" class=\"attachment-large size-large wp-image-1128\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ea10f1f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ea10f1f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2fc91be\" data-id=\"2fc91be\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-370a615 elementor-widget elementor-widget-text-editor\" data-id=\"370a615\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Even more are planning to specifically tap their 401(k). A pandemic high of 27% of Americans in September reported that they are planning early withdrawal of their 401(k). Again, there was a racial divide in plans to tap 401(k)s. Of Black Americans, 40% are planning to withdraw, compared to 28% of Hispanic Americans and just 18% of White Americans.\u00a0<\/p>\n<p>For those laid off due to the coronavirus, a record 49% are considering tapping their 401(k). That is compared to 39% in July. Current financial pressures have pushed these minority groups\u2014who typically have smaller nest eggs than White Americans\u2014as well as recently laid off workers to need to deplete their future savings further.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e60ba02 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e60ba02\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-18d1427\" data-id=\"18d1427\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3c1b401 elementor-widget elementor-widget-image\" data-id=\"3c1b401\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"408\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/americans-planning-to-tap-their-401k-for-cash-today.svg\" class=\"attachment-large size-large wp-image-1129\" alt=\"withdraw from 401k to pay off debt\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7268b3e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7268b3e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b04914a\" data-id=\"b04914a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0b2a6ba elementor-widget elementor-widget-text-editor\" data-id=\"0b2a6ba\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Increases in turning to these long-term savings accounts may be due to coronavirus-related legislation facilitating retirement withdrawals. Normally, withdrawing from your 401(k) or other retirement account before you are 59 \u00bd years old means a 10% penalty on the amount taken. The CARES Act, however,<span class=\"apple-converted-space\">\u00a0<\/span><a href=\"https:\/\/www.simplywise.com\/blog\/withdrawing-from-your-401k-during-coronavirus\/\">waives that 10% penalty on withdrawals up to $100,000<\/a><span class=\"apple-converted-space\">\u00a0<\/span>for distributions made to an individual throughout 2020. However, it does essentially mean borrowing from your future self, as the cash you take out won\u2019t have the opportunity to grow and compound over time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-84d3c1b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"84d3c1b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0662c2c\" data-id=\"0662c2c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3971ce7 elementor-widget elementor-widget-template\" data-id=\"3971ce7\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-73c3167 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"73c3167\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5146440\" data-id=\"5146440\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3163d2d elementor-widget elementor-widget-text-editor\" data-id=\"3163d2d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Perhaps for that reason, many are looking to other assets to pay the bills right now. For example, as in the May and July surveys, one in ten are now considering selling their home. Another 10% are looking to refinance their mortgage. Of Social Security beneficiaries, many of whom are dependent on their fixed income and retirement portfolios, 13% are now considering selling their home to cover expenses. Another 14% of beneficiaries are considering refinancing their home to cover expenses today.<\/p>\n<p>While the pandemic has squeezed many Americans, quarantining measures have accelerated the adoption of online banking and financial services. Many people are downloading their bank\u2019s apps for the first time, and are taking advantage of features like auto-savings that remove any of the stress or physical work involved in saving. In fact, 42% of all Americans say they are now taking care of \u201cmuch more\u201d of their banking online compared to the start of the pandemic. The results are evenly split across age groups; all Americans are being driven by today\u2019s crisis and stay-at-home policies to handle more of their finances on their computers and phones.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-39ab8a6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"39ab8a6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b76d4a\" data-id=\"2b76d4a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fa38561 elementor-widget elementor-widget-image\" data-id=\"fa38561\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"521\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/how-much-of-your-banking-you-now-take-care-of-online-compared-to-pre-pandemic.svg\" class=\"attachment-large size-large wp-image-1130\" alt=\"can I open a bank account online\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ec504f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ec504f5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dda1399\" data-id=\"dda1399\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-763d6ad elementor-widget elementor-widget-text-editor\" data-id=\"763d6ad\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Of course, handling finances online can go far beyond one\u2019s own bank or credit card sites and apps. A number of financial technology (\u201cfintech\u201d) websites and applications have gained popularity in recent years. These services range from allowing the buying and selling of stocks online, to sending money securely over the internet to family, friends, or merchants. Indeed, these apps and services represent an opportunity, especially in today\u2019s crisis, for people to better budget, renegotiate bills, cancel unwanted subscriptions, and find discounts and deals on everyday expenses.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de19c2b elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"de19c2b\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-99d5185 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"99d5185\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2ce2c7b\" data-id=\"2ce2c7b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-391888d elementor-widget elementor-widget-text-editor\" data-id=\"391888d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-58e5ac7 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"58e5ac7\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-1ebe817 elementor-column elementor-col-100 elementor-top-column\" data-id=\"1ebe817\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-72daa82 elementor-widget elementor-widget-heading\" data-id=\"72daa82\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Concern for\u00a0the\u00a0future of Social Security<\/h1>\n<p>\u00a0<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-cbec582 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"cbec582\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-cd1d27f elementor-column elementor-col-100 elementor-top-column\" data-id=\"cd1d27f\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-2c5e0aa elementor-widget elementor-widget-text-editor\" data-id=\"2c5e0aa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p style=\"text-align: center;\">While the U.S. economy is<span class=\"apple-converted-space\">\u00a0<\/span>officially in\u00a0a recession as of February 2020, it has gradually been recovering, with\u00a0<a href=\"https:\/\/www.bloomberg.com\/graphics\/recovery-tracker\/\">slight improvements across various indicators<\/a>\u00a0like consumer spending. Yet for many Americans, the real recession is yet to come. In fact, our July Index found that 72% believe it is likely the recession will continue into the next year. The September Index revealed that 36% of Americans believe the economy will get worse in the next 6 months, where just 28% believe it will get better. Economic outlook was, however, divided along party lines. Of Democrats, 43% believe the economy will get\u00a0<i>worse<\/i>, where 43% of Republicans believe it will get\u00a0<i>better<\/i>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-041feeb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"041feeb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-229aa0f\" data-id=\"229aa0f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94641b1 elementor-widget elementor-widget-image\" data-id=\"94641b1\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"471\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/how-americans-believe-the-economy-will-perform-in-the-next-6-months.svg\" class=\"attachment-large size-large wp-image-1131\" alt=\"us economic outlook 2021\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-135ce10 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"135ce10\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fe93571\" data-id=\"fe93571\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eef677a elementor-widget elementor-widget-text-editor\" data-id=\"eef677a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Results looked similar when respondents were asked about their expected outlook for the stock market. Over half of Americans believe it is likely the market will decline 20% in the next six months. In fact, only 5% of respondents said they believe it is very unlikely that the market declines in the coming months. Again, Democrats were more pessimistic on the economy; 63% believe it is likely the market will decline 20% in the next 6 months, versus just 38% of Republicans.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0acc873 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0acc873\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fc214a2\" data-id=\"fc214a2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f129228 elementor-widget elementor-widget-image\" data-id=\"f129228\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"508\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/people-who-believe-it-is-likely-the-stock-market-will-decline.svg\" class=\"attachment-large size-large wp-image-1132\" alt=\"stock market decline\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-780536f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"780536f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5298038\" data-id=\"5298038\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ecec197 elementor-widget elementor-widget-text-editor\" data-id=\"ecec197\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The economic outlook, divided along political lines, carries over into concern for the future of government programs, particularly Social Security. In fact,\u00a0<a href=\"https:\/\/www.ssa.gov\/oact\/trsum\/\">the Social Security Board of Trustees reported earlier this year<\/a>\u00a0that its funds will be depleted by 2035. That does not mean Social Security will end at that time. It does, however, mean that its cash reserves will be gone, and it will only be able to dole out what it collects in taxes each year. If that happens, according to the Trustees, the Administration will only be able to pay beneficiaries 79% of the money they are owed. Its reserves are running out due to demographic trends. Generation X (the generation behind Baby Boomers) is much smaller than the Boomers swelling the ranks of retirement beneficiaries. Translated:\u00a0there are less workers paying in taxes to fund those benefits.\u00a0Therefore, current tax revenues won\u2019t cover benefits and Social Security will have to tap the surplus.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ece623f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ece623f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ae911c0\" data-id=\"ae911c0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b672365 elementor-widget elementor-widget-image\" data-id=\"b672365\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"71\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-12.06.58-PM-1024x113.png\" class=\"attachment-large size-large wp-image-1133\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-12.06.58-PM-1024x113.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-12.06.58-PM-300x33.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-12.06.58-PM-768x85.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-12.06.58-PM-1536x170.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/09\/Screen-Shot-2023-06-23-at-12.06.58-PM-2048x226.png 2048w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9e13a98 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9e13a98\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-43513a1\" data-id=\"43513a1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e9d67f elementor-widget elementor-widget-text-editor\" data-id=\"5e9d67f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Moreover, in August, President Trump signed an executive memorandum to defer the collection of the payroll taxes that workers pay to help fund Social Security. The order was meant to ease the burden on workers. However, our September study found that 86% of Americans are concerned that the payroll tax will hurt Social Security in the long term.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d8152e2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d8152e2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-30c3d40\" data-id=\"30c3d40\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7007eaf elementor-widget elementor-widget-image\" data-id=\"7007eaf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"343\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/confidence-in-the-future-of-social-security-Biden-Trump.svg\" class=\"attachment-large size-large wp-image-1134\" alt=\"future of Social Security\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5f4614d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5f4614d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d94fc0c\" data-id=\"d94fc0c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-edb2f3c elementor-widget elementor-widget-text-editor\" data-id=\"edb2f3c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Coupled with the current unemployment level and the upcoming presidential election, it\u2019s hard for many Americans to imagine what the future of Social Security and retirement will look like. Many feel their benefits are dependent on the outcome of the November vote. If Biden is elected, 63% of Americans say they feel confident in the future of the program, versus 44% if Trump is re-elected. Twenty-two percent of Americans say they are \u201cnot at all confident\u201d in its future if Biden is elected, versus 38% feel \u201cnot at all confident\u201d if Trump is elected.<\/p>\n<p>As with the economy, results were divided by political party\u2014most starkly amongst seniors. Of all senior citizens (defined here as age 60+), 59% feel confident in the future of Social Security if Biden is elected, and 43% feel confident if Trump is elected. However, for Democratic seniors, just 11% are confident if Trump wins, versus an incredible 95% who feel confident if Biden wins. Almost in exact reverse, for Republican seniors, 81% feel confident if Trump wins, and just 13% feel confident if Biden wins. The sharp divide on economic outlook and Social Security could be an important factor in this November\u2019s election.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-54a2165 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"54a2165\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-507de68 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"507de68\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cf3e779\" data-id=\"cf3e779\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d42c893 elementor-widget elementor-widget-text-editor\" data-id=\"d42c893\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-46dd74a elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"46dd74a\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-299737a elementor-column elementor-col-100 elementor-top-column\" data-id=\"299737a\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-37f4a38 elementor-widget elementor-widget-heading\" data-id=\"37f4a38\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Social Security office closures due to COVID-19<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-4548e98 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4548e98\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-2c9249b elementor-column elementor-col-100 elementor-top-column\" data-id=\"2c9249b\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-319c0b6 elementor-widget elementor-widget-text-editor\" data-id=\"319c0b6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>All local\u00a0Social Security offices are closed\u00a0due to COVID-19 as of March 17, 2020. This policy is meant to protect both the vulnerable individuals they serve as well as the Social Security Administration (SSA) employees. However, in-person visits can be scheduled (by appointment only) for \u201cdire need situations,\u201d according to the SSA. Services normally available by phone or online remain in operation.\u00a0<\/p>\n<p>We break down, by state, the latest COVID-specific information for local offices:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/indiana\"><u>Indiana Social Security office<\/u><\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/kansas\"><u>Kansas Social Security office<\/u><\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/minnesota\/\"><u>Minnesota Social Security office<\/u><\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/oregon\"><u>Oregon Social Security office<\/u><\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/vermont\"><u>Vermont Social Security office<\/u><\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/states\/\" target=\"_blank\" rel=\"noopener\"><u>Find your local Social Security office here\u00a0<\/u><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a85a06 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a85a06\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f1b9202\" data-id=\"f1b9202\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-072bcda elementor-widget elementor-widget-text-editor\" data-id=\"072bcda\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4367c70 elementor-widget elementor-widget-heading\" data-id=\"4367c70\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Takeaways<\/h1>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-29faffc elementor-widget elementor-widget-text-editor\" data-id=\"29faffc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<h2 style=\"text-align: center;\">\u00a0<\/h2>\n<p style=\"text-align: center;\">More than six months since the COVID-19 pandemic sent towns and cities across the U.S. into lockdown, the pandemic continues to change the way we live our lives. With the presidential election mere weeks away, uncertainty continues to loom over the nation. Pandemic-era policies are working to ease some of this burden on citizens and businesses impacted by the virus. Yet these new rules and regulations can be confusing to navigate.<\/p>\n<p style=\"text-align: center;\">While things continue to change every day, many Americans are struggling to think about and save for any kind of future. This is especially true for the many in their 50s and 60s who have had retirement goals and plans upended by the virus. Yet today\u2019s insecurity is in fact why it is more important than ever to continue to put aside what you can while understanding what you\u2019re owed from Social Security. \u201cNavigating these uncertain times for ourselves and our families requires staying educated about the changing regulations and your options for saving and retirement today,\u201d says SimplyWise CEO Sam Abbas. Americans who are not yet retired but whose finances have been impacted by the pandemic can use this time to review their expenses. Determine how much cash will be needed in retirement and make any necessary adjustments to savings and portfolio asset allocations. For those who are eligible but not yet on Social Security, it is a good time to consider how to maximize your benefits. You can use a\u00a0Social Security calculator\u00a0to determine any earned,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-spousal-benefits\/\">spousal\u00a0<\/a>or\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-and-death\/\">survivor<\/a>\u00a0benefits for which you\u2019re eligible.<\/p>\n<p style=\"text-align: center;\">The COVID-19 pandemic has altered so much about the way we live, work, and think about the future. While things change, educating yourself and staying aware and informed is key to ensuring your life and future planning stay on track.<\/p>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-545bd20 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"545bd20\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-65d5a53\" data-id=\"65d5a53\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-85305ee elementor-widget elementor-widget-text-editor\" data-id=\"85305ee\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-4225393 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4225393\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-d3d14af elementor-column elementor-col-100 elementor-top-column\" data-id=\"d3d14af\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-b58c3b8 elementor-widget elementor-widget-heading\" data-id=\"b58c3b8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Methodology<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-a09217a elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"a09217a\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-15cc7dc elementor-column elementor-col-100 elementor-top-column\" data-id=\"15cc7dc\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-a212333 elementor-widget elementor-widget-text-editor\" data-id=\"a212333\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<h2><br \/>SimplyWise conducted its September 2020 Retirement Confidence Index online, as a random sample survey of 1,154 Americans aged 18 and above. The survey was fielded September 8-10, 2020. It was intended to explore how citizens are looking at retirement, Social Security, and savings today, particularly in light of the current crisis. Explore results from previous Indices below:<\/h2>\n<p><a href=\"https:\/\/www.simplywise.com\/blog\/may-2020-simplywise-retirement-confidence-index\/\">May 2020 SimplyWise Retirement Confidence Index<\/a><\/p>\n<p><a href=\"https:\/\/www.simplywise.com\/blog\/july-2020-simplywise-retirement-confidence-index\/\">July 2020 SimplyWise Retirement Confidence Index<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b8e0c72 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b8e0c72\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ece666\" data-id=\"3ece666\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8d056ba elementor-widget elementor-widget-template\" data-id=\"8d056ba\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>September 2020 The current public heath, economic, and political reality in the United States has created enormous uncertainty for many Americans. A majority of citizens lack the savings to last them even three months.\u00a0That savings gap is even more drastic when it comes to retirement. Indeed, the pandemic has wrought havoc on the retirement plans [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1116,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retirement Confidence Index - SimplyWise Cost Estimator<\/title>\n<meta name=\"description\" content=\"The September 2020 SimplyWise Retirement Confidence Index revealed that 1 in 10 Americans in their 50s and 60s are now planning to retire early...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.simplywise.com\/blog\/september-2020-simplywise-retirement-confidence-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retirement Confidence Index - 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