{"id":1143,"date":"2021-01-18T17:16:00","date_gmt":"2021-01-18T17:16:00","guid":{"rendered":"https:\/\/www.simplywise.com\/blog-2023\/?p=1143"},"modified":"2023-12-04T01:21:07","modified_gmt":"2023-12-04T01:21:07","slug":"retirement-confidence-index","status":"publish","type":"post","link":"https:\/\/www.simplywise.com\/blog\/retirement-confidence-index\/","title":{"rendered":"Retirement Confidence Index"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1143\" class=\"elementor elementor-1143\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a35ba45 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a35ba45\" 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-382e24b0\" data-id=\"382e24b0\" 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-c253bb2 elementor-widget elementor-widget-text-editor\" data-id=\"c253bb2\" 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>January 2021<\/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-2027e33 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2027e33\" 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-d8ca232\" data-id=\"d8ca232\" 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-6eda717 elementor-widget elementor-widget-text-editor\" data-id=\"6eda717\" 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 pandemic has altered the lives of every American. Despite buoyant markets, millions of Americans faced unprecedented financial hardship caused by COVID-19. It has upended what work, income, and employment opportunities look like, as well as retirement. It has eaten into savings, forced people into debt, and created unprecedented levels of housing instability. And while the rollout of vaccinations gives some hope, continued lockdowns coupled with the change of power in Washington and current political unrest are causing many to continue feeling uncertain about the future. Yet certain populations, including seniors, people of color, and lower income Americans, have been disproportionately impacted both by the virus itself and the instability in its wake.<\/p>\n<p>The SimplyWise Retirement Confidence Index, running since May 2020, tracks evolving American confidence around savings and retirement. The latest Index polled 1,029 citizens ages 18+ between January 8-10, 2021, and found that concerns over retirement finances and savings remain high\u2014yet vary considerably across income, race, gender, and even political party. The survey explored how citizens are approaching savings,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/social-security-retirement-benefits\/\" target=\"_blank\" rel=\"noopener\">Social Security<\/a>, and retirement, especially given the recent election and worsening situation around 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-e141ac5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e141ac5\" 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-d8b5272\" data-id=\"d8b5272\" 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-54552f4 elementor-widget elementor-widget-text-editor\" data-id=\"54552f4\" 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-7feff4e4 elementor-widget elementor-widget-heading\" data-id=\"7feff4e4\" 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-10f1e216 elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"10f1e216\" 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\">\n<ul>\n<li><b>55%<\/b>\u00a0of people are more concerned about retirement today than this time last year.<\/li>\n<li><b>44%<\/b>\u00a0of Americans worry they\u2019ll never be able to retire\u2014an all-time high.<\/li>\n<li><b>69%<\/b>\u00a0of Social Security beneficiaries experienced at least 1 scam attempt in the last 3 months.<\/li>\n<li><b>23%<\/b>\u00a0of Americans don\u2019t have any kind of retirement plan.<\/li>\n<li><b>51%\u00a0<\/b>of Americans will need a 3rd stimulus check within the next 3 months.<\/li>\n<li><b>64%<\/b>\u00a0of Black Americans could not last more than 3 months off their savings, compared to 48% of White Americans.<\/li>\n<li><b>25%<\/b>\u00a0of Americans in their 60s could not last more than 3 months off their savings\u2014an all-time high.<\/li>\n<li><b>75%<\/b>\u00a0of people who were laid off due to COVID-19 couldn\u2019t come up with $500 cash.<\/li>\n<li><b>45%<\/b>\u00a0of Black Americans now fear falling behind on their rent or mortgage, as compared to 44% of Hispanic Americans, and 28% of White Americans.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5990b32 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5990b32\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fa16d26\" data-id=\"fa16d26\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-68ff13f elementor-widget elementor-widget-image\" data-id=\"68ff13f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".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=\"488\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.19.40-PM-1024x781.png\" class=\"attachment-large size-large wp-image-1147\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.19.40-PM-1024x781.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.19.40-PM-300x229.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.19.40-PM-768x585.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.19.40-PM.png 1413w\" 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-611a89a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"611a89a\" 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-3255a40\" data-id=\"3255a40\" 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-f660b1b elementor-widget elementor-widget-text-editor\" data-id=\"f660b1b\" 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-15113fff elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"15113fff\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-7141a071 elementor-column elementor-col-100 elementor-top-column\" data-id=\"7141a071\" 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-5a174269 elementor-widget elementor-widget-heading\" data-id=\"5a174269\" 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;\">Disparity in American retirement outlook<\/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-2b516853 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"2b516853\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-1a84fe27 elementor-column elementor-col-100 elementor-top-column\" data-id=\"1a84fe27\" 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-3d63f2d9 elementor-widget elementor-widget-text-editor\" data-id=\"3d63f2d9\" 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 SimplyWise Retirement Confidence Index has found since its inception in May 2020 that retirement confidence remains low. The January Index found that 55% of people are more concerned about retirement today than this time last year. This is compared to last year\u2019s 56% in May, 62% in July, 58% in September, and 59% in November.<\/p>\n<p>That means that concern over retirement is now at the lowest point since the pandemic began. These results reflect a somewhat more optimistic view of the future. While a majority of Americans do continue to feel <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\">financially squeezed<\/a> today, as 2021 begins, many appear to have a brighter outlook.<\/p>\n<p>However, simply looking at the average retirement confidence level does not paint the full picture in 2021. Deep disparities loom within the data. The January Index found that Black Americans continue to be the most concerned about retirement; 59% reported they are more concerned about their retirement prospects today compared to this time last year. That is compared to 57% of Hispanic Americans and 54% of White and Asian Americans who said they are more concerned.<\/p>\n<p>It also varied by income bracket. The January Index found that 58% of Americans with a household income of $50,000 or less are more concerned about retirement today compared to this time last year. This is compared to just 40% of Americans with a household income of $150,000 or above who are more concerned about retirement today.<\/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-beab1ac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"beab1ac\" 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-97f86a6\" data-id=\"97f86a6\" 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-f074029 elementor-widget elementor-widget-image\" data-id=\"f074029\" 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=\"74\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.22.18-PM-1024x118.png\" class=\"attachment-large size-large wp-image-1148\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.22.18-PM-1024x118.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.22.18-PM-300x34.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.22.18-PM-768x88.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.22.18-PM-1536x176.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.22.18-PM-2048x235.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-549cac2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"549cac2\" 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-8b84ce2\" data-id=\"8b84ce2\" 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-038f1fd elementor-widget elementor-widget-text-editor\" data-id=\"038f1fd\" 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>Yet the greatest concern for the future was, understandably, among those who have been laid off or furloughed during the COVID-19 pandemic. Of people making the same income they did prior to the pandemic, 52% feel more concerned about retirement today. By comparison, 69% of workers whose income has been lost or reduced due to the pandemic are now more concerned about retirement.<\/p>\n<p>For people not yet claiming Social Security benefits, financial concerns remain among the highest anxieties in thinking about retirement. As each of our previous indices found,<b>\u00a0the number one fear of Americans for retirement is that Social Security will end<\/b>. The January Index found that for those not yet claiming Social Security retirement benefits, 53% fear those benefits will dry up. That anxiety was most acute for people in their 50s, nearest to their legal retiring age. Of that group, 58% worry about Social Security drying up during their lifetime.<\/p>\n<p>For this reason, many believe they will be working for their whole lives. In fact, the January Index saw that more people than ever today worry they will never be able to retire.\u00a0<b>For those not yet claiming Social Security retirement, 44% worry they will never retire.<\/b><\/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-a309b14 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a309b14\" 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-68f93d9\" data-id=\"68f93d9\" 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-d3effe9 elementor-widget elementor-widget-image\" data-id=\"d3effe9\" 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\/Americans-who-fear-theyll-never-be-able-to-retire-1.svg\" class=\"attachment-large size-large wp-image-1149\" alt=\"when can i retire\" \/>\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-b08ee6c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b08ee6c\" 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-1feed4a\" data-id=\"1feed4a\" 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-848dd69 elementor-widget elementor-widget-text-editor\" data-id=\"848dd69\" 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, when the same question was asked to Americans in their 50s as well as seniors (age 60+), the numbers had also increased. While the previous SimplyWise surveys (from May 2020 onwards) found approximately one in three in their 50s worry about not being able to retire, the January poll found that 42% worry they may never be able to retire. Perhaps worse, for seniors, many of whom are already retired from work, a total 18% believe they never will retire. That is almost one in five American seniors who fear they may have to work for the rest of their life.<\/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-1afe2dc elementor-widget elementor-widget-template\" data-id=\"1afe2dc\" 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\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-7406c08 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7406c08\" 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-91f52e2\" data-id=\"91f52e2\" 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-c519ae2 elementor-widget elementor-widget-text-editor\" data-id=\"c519ae2\" 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 January survey found that other major retirement concerns for Americans not yet collecting Social Security retirement benefits were specifically around <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\/amazon\">savings and expenses<\/a>. The January 2021 Index found that 49% worry they will outlive their savings, and 42% worry about covering daily living expenses when they retire. Another 47% are concerned about their ability to cover medical bills in retirement. And for people in their 50s, 53% worry about paying medical bills in retirement\u2014an Index-high.\u00a0<\/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-ed6ecbb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ed6ecbb\" 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-86037d3\" data-id=\"86037d3\" 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-1181772 elementor-widget elementor-widget-image\" data-id=\"1181772\" 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=\"418\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/UPDconcerns.svg\" class=\"attachment-large size-large wp-image-1150\" alt=\"paying for medical bills 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\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-726063f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"726063f\" 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-a577f05\" data-id=\"a577f05\" 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-e96af61 elementor-widget elementor-widget-text-editor\" data-id=\"e96af61\" 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>In fact, only half are confident that they will be able to maintain the same quality of life they enjoy today once they retire. That number varies greatly by age. According to the January Index, 61% of Americans in their 20s believe they will be able to enjoy their same quality of life in retirement. This is compared to 53% of people in their 30s and 47% of people in their 40s and 50s who believe their life quality will not change after retiring.\u00a0<\/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-5dda305 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5dda305\" 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-b1ba56e\" data-id=\"b1ba56e\" 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-3127f8f elementor-widget elementor-widget-image\" data-id=\"3127f8f\" 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=\"444\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/life-quality.svg\" class=\"attachment-large size-large wp-image-1151\" 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<div class=\"elementor-element elementor-element-24d6471 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"24d6471\" 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 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.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-d1ec083 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d1ec083\" 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-93518b8\" data-id=\"93518b8\" 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-830bfc0 elementor-widget elementor-widget-text-editor\" data-id=\"830bfc0\" 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-de911e4 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"de911e4\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-1098844f elementor-column elementor-col-100 elementor-top-column\" data-id=\"1098844f\" 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-4e56b795 elementor-widget elementor-widget-heading\" data-id=\"4e56b795\" 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;\">Most Americans to work in retirement<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-7a9039ab elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"7a9039ab\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-6cc7bb59 elementor-column elementor-col-100 elementor-top-column\" data-id=\"6cc7bb59\" 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-286df9fe elementor-widget elementor-widget-text-editor\" data-id=\"286df9fe\" 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 pandemic continues to impact the savings, finances, and employment of Americans\u2014and this is particularly disruptive for people nearing retirement age (and who are dealing with the most threat from scams and targeted <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\/target\">fraud on their bank\/credit card accounts<\/a>). Many have lost employment, or are having to weigh health risks of going back into a workplace to return to work.\u00a0<\/p>\n<p>Given this current climate, 9% of people in their 50s and 60s are now considering retiring earlier than planned. Many of them will be claiming their Social Security benefits earlier than expected. Of course,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/delaying-social-security-retirement-benefits\/\">claiming benefits before retirement age<\/a>\u00a0permanently reduces what you could receive monthly from Social Security. In fact, the January Index found that 10% of people in their 50s and 60s are now considering claiming Social Security benefits early.\u00a0<\/p>\n<p>However, many more are considering postponing retirement today. An Index-high of 32% of people in their 50s are now planning to postpone retirement from work. And a record 21% of people in their 60s are now planning to postpone retirement from work.\u00a0<\/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-54ac85f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54ac85f\" 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-f3de9d0\" data-id=\"f3de9d0\" 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-db0515d elementor-widget elementor-widget-image\" data-id=\"db0515d\" 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=\"418\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/postponing.svg\" class=\"attachment-large size-large wp-image-1152\" 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-1e6efc5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1e6efc5\" 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-1cd2dfa\" data-id=\"1cd2dfa\" 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-32b8583 elementor-widget elementor-widget-text-editor\" data-id=\"32b8583\" 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>Those plans may be attributed to the fact that only 63% of workers in their 50s and 60s are making the same income they did prior to the pandemic. The Index also found that 20% of workers in their 50s and 60s have maintained their jobs but had their income reduced during the pandemic.\u00a0<\/p>\n<p>Yet for a majority of Americans today, \u201cretiring\u201d no longer means the end of. The January Index found that 71% of workers plan to continue working in retirement. That is compared to 74% of workers back in November who said they plan to work after claiming Social Security retirement benefits. Previous 2020 results were similar: 67% in May, 72% in July, and 73% in September reported plans to work in \u201cretirement\u201d.<\/p>\n<p>There was a racial disparity in plans to work in retirement. In fact, 80% of Black Americans reported that they plan to work after claiming Social Security benefits. This is an Index high. It is compared to 63% of Asian Americans and 59% of Hispanic and White Americans who reported they plan to work in retirement.\u00a0<\/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-c452a5c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c452a5c\" 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-7fc9f75\" data-id=\"7fc9f75\" 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-1228fa0 elementor-widget elementor-widget-image\" data-id=\"1228fa0\" 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=\"425\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.28.33-PM-1024x680.png\" class=\"attachment-large size-large wp-image-1153\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.28.33-PM-1024x680.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.28.33-PM-300x199.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.28.33-PM-768x510.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.28.33-PM.png 1148w\" 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-d51755b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d51755b\" 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-6e6fbef\" data-id=\"6e6fbef\" 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-39f99c1 elementor-widget elementor-widget-text-editor\" data-id=\"39f99c1\" 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 people nearest to retiring age, those in their 50s, the numbers were lower than the national average\u2014though not by much. The January survey found that 59% of people in their 50s now plan to work in retirement. That is split between 42% who plan to work part-time and 17% who plan to work full-time after claiming Social Security retirement benefits. That 17% is compared to the May 2020 Index results, which found that just 8% of people in their 50s planned to work full time in \u201cretirement\u201d.\u00a0<\/p>\n<p>Again, this may be yet another indicator of financial planning anxieties for retirement, particularly for those nearing retiring age. Nonetheless, it does highlight the fact that many do in fact count on having work income into their 60s or 70s. This reliance on work income for one\u2019s finances later in life, however, can be harmful. Health problems or unexpected job losses (like many Americans are facing today) can force people out of work and into early retirement. Wherever possible, building up alternative assets and savings can be critical for retirement.\u00a0<\/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-0094dd7 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"0094dd7\" 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-f5f5f09 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f5f5f09\" 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-f9d2721\" data-id=\"f9d2721\" 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-f15fcb2 elementor-widget elementor-widget-text-editor\" data-id=\"f15fcb2\" 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-e34efed elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"e34efed\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-37c52e1 elementor-column elementor-col-100 elementor-top-column\" data-id=\"37c52e1\" 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-af9b7fb elementor-widget elementor-widget-heading\" data-id=\"af9b7fb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Disparity in American 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-2b337721 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"2b337721\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-156f75b2 elementor-column elementor-col-100 elementor-top-column\" data-id=\"156f75b2\" 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-5c1a1d8 elementor-widget elementor-widget-text-editor\" data-id=\"5c1a1d8\" 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 dir=\"ltr\">Since the start of the Retirement Confidence Index in May 2020, the numbers around annual retirement savings have remained consistent. In line with the previous surveys, the January Index found that 32% of Americans saved $0 for retirement in the last year. That means that almost one third of Americans saved nothing for retirement in 2020. The Index also found that 23% of Americans don\u2019t have any retirement plan at all.\u00a0<\/p>\n<p dir=\"ltr\">There was a gender divide in the January results. Again, men saved more than women across the board. For example, 63% of men versus 47% of women saved $500 or more for retirement in the last year. Moreover, just 26% of men saved $0 for retirement in 2020, compared to 36% of women.<\/p>\n<p dir=\"ltr\">There was also a disparity when it came to those who have been laid off or furloughed due to COVID-19. Of that group, 45% saved $0 for retirement in 2020.\u00a0<\/p>\n<p dir=\"ltr\">Interestingly, when narrowing in on savings of the 50-59 age group, the results looked similar to that of the average American. In fact, 31% of people in their 50s saved nothing for retirement in 2020. And 45% saved under $1,000 for retirement over the year. But this data is troubling, given that financial advisors recommend\u00a0<a href=\"https:\/\/www.johnhancock.com\/ideas-insights\/retirement-preparation-by-decade.html\">saving the most for retirement in your 50s and early 60s<\/a>. This is because of policy that allows for a \u201ccatch up\u201d period for those 50 years or older to contribute beyond their retirement account\u2019s usual annual contribution limit. However, the recent survey found that of Americans in their 50s, 27% saved $0 for retirement in the last year. And 42% could not last more than a month off their savings.<\/p>\n<p dir=\"ltr\">There is a bright spot with regards to savings, however. Across the board, Americans do feel more determined to improve their savings in the new year. In fact, 54% of the country said they plan to save more for retirement in 2021. Of people in their 50s, 55% plan to save more for retirement this year.<\/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-de22249 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"de22249\" 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-6a133fa\" data-id=\"6a133fa\" 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-021653e elementor-widget elementor-widget-image\" data-id=\"021653e\" 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-saved.svg\" class=\"attachment-large size-large wp-image-1154\" 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-9a8ab98 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9a8ab98\" 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-51c0c49\" data-id=\"51c0c49\" 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-3c27c3a elementor-widget elementor-widget-text-editor\" data-id=\"3c27c3a\" 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 dir=\"ltr\">Beyond retirement savings, the overall financial and savings reality for many Americans today remains grim. When asked how long they could afford to not work and live off their savings, 37% of all Americans could not last a month. Fifty-eight percent of all Americans could not live off their savings for more than 3 months.<\/p>\n<p dir=\"ltr\">Like with retirement savings, there was a gender and racial divide in overall savings. Twenty-eight percent of men, versus 45% of women, could not last a month off their savings. For Hispanic and Black Americans, 47% and 46% respectively could not last a month on their savings. That is compared to 36% of White and 30% 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-01cd77c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01cd77c\" 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-f81f444\" data-id=\"f81f444\" 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-024468c elementor-widget elementor-widget-image\" data-id=\"024468c\" 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\/three-months.svg\" class=\"attachment-large size-large wp-image-1155\" 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-91402b3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"91402b3\" 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-57239dd\" data-id=\"57239dd\" 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-cdd460f elementor-widget elementor-widget-text-editor\" data-id=\"cdd460f\" 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 dir=\"ltr\">The numbers were also alarming when it came to older Americans, many of whom are already retired. For example, 25% of Americans in their 60s said they could not last more than a month off their savings\u2014an Index-high.\u00a0<\/p>\n<p dir=\"ltr\">Finally, there was also a disparity when it came to those who have been laid off or furloughed due to COVID-19. A full 47% of them could not last a month off of their savings. And 25% could not last even two weeks off their savings.\u00a0<\/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-e4165f6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e4165f6\" 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-f007db1\" data-id=\"f007db1\" 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-b81f955 elementor-widget elementor-widget-image\" data-id=\"b81f955\" 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=\"72\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.31.38-PM-1024x115.png\" class=\"attachment-large size-large wp-image-1156\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.31.38-PM-1024x115.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.31.38-PM-300x34.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.31.38-PM-768x86.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.31.38-PM-1536x172.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.31.38-PM-2048x229.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-5bdae2b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5bdae2b\" 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-20c3dbc\" data-id=\"20c3dbc\" 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-eca45aa elementor-widget elementor-widget-text-editor\" data-id=\"eca45aa\" 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 findings highlight the urgency of COVID-relief legislation for many Americans. In fact, the January Index found that over half of Americans (51%) say they will need a third stimulus check in the next three months. And 28% of Americans say they will need another check in just one month. The numbers were much more dramatic when it came to those who have lost their job due to the COVID-19 pandemic. For those unemployed Americans, 76% say they will need another stimulus check within the next three months.<\/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-2fd06ec elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2fd06ec\" 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-aa8c15d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"aa8c15d\" 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-5919e63\" data-id=\"5919e63\" 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-1b71725 elementor-widget elementor-widget-text-editor\" data-id=\"1b71725\" 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 style=\"font-weight: 600;\">Economic insecurity and disparity intensified by pandemic<\/h1>\n<p>Despite some rebounding employment and savings numbers today, the reality for many Americans is that incomes and savings have been hit hard in the last year. Of course, even before the pandemic, most Americans were living paycheck to paycheck. Yet the pandemic has in many ways intensified class and racial divisions. SimplyWise\u2019s January survey found that an Index-high of 52% of Americans would not be able to come up with $500 cash right now without selling something or taking out a loan. This is up from 43% reported in November 2020 who could not come up with $500 cash.<\/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-3bf67ae elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3bf67ae\" 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-f4b64b3\" data-id=\"f4b64b3\" 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-d8545c5 elementor-widget elementor-widget-image\" data-id=\"d8545c5\" 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=\"474\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Americans-who-couldnt-come-up-with-500-cash-1.svg\" class=\"attachment-large size-large wp-image-1157\" alt=\"Americans who can&#039;t 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-b326910 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b326910\" 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-4107567\" data-id=\"4107567\" 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-488412a elementor-widget elementor-widget-text-editor\" data-id=\"488412a\" 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>That response varies greatly across racial lines as well as current employment status. While 45% of White Americans cannot come up with $500 cash, 67% of Black and 66% of Hispanic Americans could not come up with that money without selling something or taking out a loan. And an unbelievable<b>\u00a075% of people who were laid off due to COVID-19 could not come up with $500 cash today.<\/b><\/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-c45cdd8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c45cdd8\" 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-9cdbc42\" data-id=\"9cdbc42\" 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-a58b4af elementor-widget elementor-widget-image\" data-id=\"a58b4af\" 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\/race500cash.svg\" class=\"attachment-large size-large wp-image-1158\" alt=\"Black Americans paycheck to paycheck\" \/>\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-fad9613 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fad9613\" 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-8dd52ae\" data-id=\"8dd52ae\" 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-a129df4 elementor-widget elementor-widget-template\" data-id=\"a129df4\" 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-30df5ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30df5ce\" 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-f07ba6d\" data-id=\"f07ba6d\" 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-8f0a029 elementor-widget elementor-widget-text-editor\" data-id=\"8f0a029\" 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>With incomes hit hard by the pandemic and no savings to fall back on, many Americans are concerned what this means for where they live in the coming year. In fact, the survey found that 60% have some concern over their housing right now. Though again, there was a serious racial disparity in this data. Over 46% of White Americans report that they \u2018don\u2019t have any concerns with regards to their housing\u2019. That is compared to 26% of Black Americans and 23% of Hispanic Americans who \u2018don\u2019t have concerns\u2019 about their housing.<\/p>\n<p>The survey also found that a total of one in three Americans worries about falling behind on their rent or mortgage. Yet those numbers are more dramatic for people of color. In fact, 45% of Black Americans fear falling behind on their rent or mortgage, compared to 44% of Hispanic Americans, and 28% of White Americans.<\/p>\n<p>Another one in ten Americans worries they will have to sell their home this year. Another 9% worry they will have to move into a more affordable home. And a distressing 8% of Americans worry about being evicted from their home.<\/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-f658113 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f658113\" 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-9e91411\" data-id=\"9e91411\" 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-c92ae2a elementor-widget elementor-widget-image\" data-id=\"c92ae2a\" 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\/housing-concerns.svg\" class=\"attachment-large size-large wp-image-1159\" alt=\"evictions in us\" \/>\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-f102584 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f102584\" 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-fa2538d\" data-id=\"fa2538d\" 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-558c313 elementor-widget elementor-widget-text-editor\" data-id=\"558c313\" 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 style=\"font-weight: 400;\">For this reason, many Americans are looking to other assets to pay the bills right now. This is especially true for older Americans. For example, 11% of people in their 50s and 9% of people in their 60s are planning to withdraw from emergency savings today to pay the bills. For Social Security beneficiaries, many of whom depend on a fixed income, 14% are now considering selling their home given the economic climate. Another 14% of beneficiaries are planning to refinance their home. And 18% of beneficiaries are planning to withdraw from emergency savings for cash.\u00a0<\/p>\n<p style=\"font-weight: 400;\">In 2020, a number of Americans tapped their retirement accounts for cash. This was due to a part of the CARES Act that\u00a0<b><a href=\"https:\/\/www.simplywise.com\/blog\/withdrawing-from-your-401k-during-coronavirus\/\">waived the usual 10% penalty on retirement account withdrawals<\/a><\/b>\u00a0up to $100,000 for distributions made throughout 2020. (Typically, withdrawing from a reitmrenet account before age 59 \u00bd results in a 10% penalty on the amount taken.) According to the policy, as long as the withdrawn amounts were repaid to the retirement plan within a three-year window, the funds would be tax-free. Distributions not repaid would become taxable income which could be taxed ratably over three years.<\/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-8fe1320 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8fe1320\" 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-62cc2e6\" data-id=\"62cc2e6\" 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-12f8e44 elementor-widget elementor-widget-image\" data-id=\"12f8e44\" 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=\"73\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.36.51-PM-1024x116.png\" class=\"attachment-large size-large wp-image-1160\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.36.51-PM-1024x116.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.36.51-PM-300x34.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.36.51-PM-768x87.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.36.51-PM-1536x174.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.36.51-PM-2048x232.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-4c718de elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c718de\" 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-0647b4e\" data-id=\"0647b4e\" 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-1168fcd elementor-widget elementor-widget-text-editor\" data-id=\"1168fcd\" 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>Yet many Americans are not able or willing to pay back the withdrawn funds into their retirement accounts. In fact, the January Index found that of people who took the CARES Act withdrawal from their retirement plan in 2020, 43% do not plan to pay it back (57% do plan to pay it back). Of people laid off due to COVID-19 who took a CARES Act withdrawal, 52% are not planning to pay it back.<\/p>\n<p>Unfortunately, many Americans who would have been eligible did not even know they had the option to tap these accounts for funds. The January Index found that 34% of people who have a retirement plan were not aware that the CARES Act policy made retirement withdrawals penalty-free.\u00a0<\/p>\n<p>Congress did not extend this 2020 policy, so Americans are no longer able to withdraw penalty-free from these accounts in 2021. However, the January Index did find that 21% of Americans are still planning to withdraw from their 401(k) during 2021, despite the return of the withdrawal penalty. It may be the best alternative those citizens have today.\u00a0<\/p>\n<p>Indeed, with the growing coronavirus case numbers, the recent political turmoil, and the upcoming presidential inauguration, the short-term outlook feels uncertain for a number of Americans. The January Index found that 37% believe the economy will get better in the next six months\u2014and just 28% believe it will get better. However, there was a divide along party lines. Of Democrats, 37% believe the economy will get better, where just 16% of Republicans believe it will get better.<\/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-65d9a73 elementor-widget elementor-widget-template\" data-id=\"65d9a73\" 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<div class=\"elementor-element elementor-element-259be97 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"259be97\" 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-75eeaf9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"75eeaf9\" 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-c0bca05\" data-id=\"c0bca05\" 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-7ef9232 elementor-widget elementor-widget-text-editor\" data-id=\"7ef9232\" 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-2d08dfe elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"2d08dfe\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-8b9221f elementor-column elementor-col-100 elementor-top-column\" data-id=\"8b9221f\" 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-6e4ead0 elementor-widget elementor-widget-heading\" data-id=\"6e4ead0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Future of Social Security feels uncertain<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-ae28cc4 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"ae28cc4\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-c0800db elementor-column elementor-col-100 elementor-top-column\" data-id=\"c0800db\" 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-04b0e20 elementor-widget elementor-widget-text-editor\" data-id=\"04b0e20\" 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 dir=\"ltr\">Today\u2019s macroeconomic and sociopolitical uncertainty, including the upcoming transfer of power in Washington D.C., spills over into concern for the future of government programs. This is especially true for the Social Security Administration (SSA), which has long suffered a funding shortfall.\u00a0<\/p>\n<p dir=\"ltr\">In fact, even before COVID-19 wracked the country, the SSA\u2019s Board of Trustees announced in early 2020 that Social Security\u2019s funds would be exhausted by 2035. Note that this did not signify the end of the program. Rather, it was a warning that its cash reserves would be depleted, and citizens\u2019 benefits would become fully dependent on taxes collected from workers each year. The Board of Trustees reported that this would mean beneficiaries were paid only 79% of the money they were owed.\u00a0<\/p>\n<p dir=\"ltr\">However, the pandemic has accelerated the exhaustion of the program\u2019s cash reserves. This is because the payroll taxes that fund the SSA\u2019s coffers were cut into when unemployment sunk to record levels in 2020. The destiny of the program now lies both in the hands of legislators as well as the prolongation of unemployment numbers.<\/p>\n<p dir=\"ltr\">Moreover, 2020 was a highly disruptive year for current Social Security beneficiaries in receiving their benefits. Starting in March 2020, local Social Security offices closed due to COVID-19 to protect employees as well as the vulnerable populations they serve. With the confusion around the office closures and changing communication methods with the SSA, Social Security-related scams then escalated over the year.<\/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-b156eed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b156eed\" 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-644233a\" data-id=\"644233a\" 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-96dd851 elementor-widget elementor-widget-image\" data-id=\"96dd851\" 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=\"72\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.38.38-PM-1024x115.png\" class=\"attachment-large size-large wp-image-1161\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.38.38-PM-1024x115.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.38.38-PM-300x34.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.38.38-PM-768x87.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.38.38-PM-1536x173.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-12.38.38-PM-2048x231.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-06cf9c3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"06cf9c3\" 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-2ddf948\" data-id=\"2ddf948\" 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-e899f02 elementor-widget elementor-widget-text-editor\" data-id=\"e899f02\" 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>Indeed, the January 2021 Index found that 46% of Americans have experienced at least one attempted Social Security scam in the last three months. That is exactly in line with the November Index data, which found that 47% of Americans had experienced at least one such scam attempt. Further, the January Index found that an unbelievable 21% of Americans have experienced three or more attempted Social Security scams in that time. The data, however, was most shocking for current Social Security recipients, who regularly receive communications from Social Security. A full 69% of Social Security beneficiaries have experienced at least one Social Security scam attempt in the last three months.<\/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-bfa27f6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bfa27f6\" 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-130b789\" data-id=\"130b789\" 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-531805b elementor-widget elementor-widget-image\" data-id=\"531805b\" 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\/Scam-attempts-on-Social-Security-recipients-1.svg\" class=\"attachment-large size-large wp-image-1162\" 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-9b5988c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9b5988c\" 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-9e1c04d\" data-id=\"9e1c04d\" 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-e609470 elementor-widget elementor-widget-text-editor\" data-id=\"e609470\" 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 style=\"font-weight: 400;\">Given the enduring impact of the pandemic, SimplyWise has collated resources to help current beneficiaries navigate the SSA amidst the uncertainty.<\/p>\n<p style=\"font-weight: 400;\">First, while offices are closed for most in-person visits (unless in the case of \u201cdire need\u201d), most are still answering phones. SimplyWise has a created a resource that breaks down, by state, the latest COVID-specific information for every local office:<\/p>\n<ul style=\"font-weight: 400;\">\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/california\/\">California Social Security offices<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/florida\/\">Florida Social Security offices<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/new-york\/\">New York Social Security offices<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/texas\/\">Texas Social Security offices<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/pennsylvania\/\">Pennsylvania Social Security offices<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/states\/\">Find your local Social Security office here<\/a><\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">Second, in order to protect against the increasing number of scams, and in particular Social Security scams out there today, it is critical to stay informed about the latest practices by fraudsters. SimplyWise compiles lists of recent scams as well as resources to protect against them. Learn more\u00a0<b><a href=\"https:\/\/www.simplywise.com\/blog\/staying-safe-online-amid-the-rise-of-covid-scams\/\">here<\/a><\/b>.<\/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-2c93312 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2c93312\" 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-387af29\" data-id=\"387af29\" 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-33e182e elementor-widget elementor-widget-text-editor\" data-id=\"33e182e\" 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-39516182 elementor-widget elementor-widget-heading\" data-id=\"39516182\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Takeaways<\/h1>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-5fe6ecc0 elementor-widget elementor-widget-text-editor\" data-id=\"5fe6ecc0\" 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>Vulnerable groups, including seniors and people of color, have been disproportionately affected by the pandemic. In 2020, communities and governments around the country worked to offer relief for all those hit hard by the coronavirus. From mutual aid to unemployment benefits and Social Security, these programs have provided much needed resources and support to these vulnerable and minority populations. Yet many of these benefit programs and new government policies can be confusing to understand.<\/p>\n<p>Navigating benefits eligibility requires educating yourself about evolving policies and legislation affecting what you are owed. You can use a\u00a0<a href=\"https:\/\/www.simplywise.com\/\">benefits calculator<\/a>\u00a0to see what you could be eligible for, from\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-spousal-benefits\/\">spousal<b>\u00a0<\/b><\/a>or\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-and-death\/\">survivor<\/a>\u00a0benefits to a senior companion or tax credits.<\/p>\n<p>\u201cWhile the world is changing fast and things feel somewhat uncertain, staying both informed and empathetic with yourself and those around you will ensure that your future planning stays on track,\u201d says Sam Abbas, CEO, SimplyWise.\u00a0 Understanding your financial options can help you to find benefits, save smarter, and take control amidst today\u2019s uncertainty.<\/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-b3a387a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b3a387a\" 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-729cf92\" data-id=\"729cf92\" 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-d7fba44 elementor-widget elementor-widget-text-editor\" data-id=\"d7fba44\" 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-5c240661 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"5c240661\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-2cfcd08a elementor-column elementor-col-100 elementor-top-column\" data-id=\"2cfcd08a\" 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-1d5706a elementor-widget elementor-widget-heading\" data-id=\"1d5706a\" 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-bb201f elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"bb201f\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-4287ef0a elementor-column elementor-col-100 elementor-top-column\" data-id=\"4287ef0a\" 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-8be4498 elementor-widget elementor-widget-text-editor\" data-id=\"8be4498\" 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 dir=\"ltr\">The January 2021 SimplyWise Retirement Confidence Index was conducted as an online, random sample survey of 1,029 Americans adults (age 18+). The survey was fielded January 8-10, 2021. It was intended to explore sentiment around savings, retirement, and Social Security given the COVID-19 pandemic and current economic and political uncertainty.<\/p>\n<p dir=\"ltr\">See results from previous Indices below:<\/p>\n<h2 dir=\"ltr\"><a href=\"https:\/\/www.simplywise.com\/blog\/may-2020-simplywise-retirement-confidence-index\/\">May 2020 Index<\/a><\/h2>\n<h2 dir=\"ltr\"><a href=\"https:\/\/www.simplywise.com\/blog\/july-2020-simplywise-retirement-confidence-index\/\">July 2020 Index<\/a><\/h2>\n<h2 dir=\"ltr\"><a href=\"https:\/\/www.simplywise.com\/blog\/september-2020-simplywise-retirement-confidence-index\/\">September 2020 Index<\/a><\/h2>\n<h2 dir=\"ltr\"><a href=\"https:\/\/www.simplywise.com\/blog\/november-2020-simplywise-retirement-confidence-index\">November 2020 Index<\/a><\/h2>\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-ae22867 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ae22867\" 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-0732065\" data-id=\"0732065\" 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-aaf5c9f elementor-widget elementor-widget-template\" data-id=\"aaf5c9f\" 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>January 2021 The pandemic has altered the lives of every American. Despite buoyant markets, millions of Americans faced unprecedented financial hardship caused by COVID-19. It has upended what work, income, and employment opportunities look like, as well as retirement. It has eaten into savings, forced people into debt, and created unprecedented levels of housing instability. [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1144,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1143","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 January 2021 SimplyWise Retirement Confidence Index found that found that 44% of Americans worry they&#039;ll never be able to retire\u2014an all-time high...\" \/>\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\/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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