{"id":1167,"date":"2021-01-14T17:43:00","date_gmt":"2021-01-14T17:43:00","guid":{"rendered":"https:\/\/www.simplywise.com\/blog-2023\/?p=1167"},"modified":"2023-12-04T01:24:12","modified_gmt":"2023-12-04T01:24:12","slug":"november-2020-simplywise-retirement-confidence-index","status":"publish","type":"post","link":"https:\/\/www.simplywise.com\/blog\/november-2020-simplywise-retirement-confidence-index\/","title":{"rendered":"Retirement Confidence Index"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1167\" class=\"elementor elementor-1167\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26c896d6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26c896d6\" 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-7e686887\" data-id=\"7e686887\" 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-4740b734 elementor-widget elementor-widget-text-editor\" data-id=\"4740b734\" 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>November 2020<\/p>\n<!-- \/wp:paragraph -->\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1bb2796 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1bb2796\" 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-cad4313\" data-id=\"cad4313\" 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-1921e24 elementor-widget elementor-widget-text-editor\" data-id=\"1921e24\" 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 a politically polarized nation and COVID-19 cases surging around the country, uncertainty has become the new normal in America. While jobless claims have recently dipped slightly, the unemployment rate and 11 million jobless workers reported in October are both approximately twice pre-COVID levels. A majority of citizens remain paycheck to paycheck, unable to last even three months off of their savings.\u00a0And of course, the gap in saving is even more dramatic when it comes to retirement. Particularly for older Americans, the pandemic has upended retirement plans and <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\/adobe\">longtime savings<\/a>.\u00a0<\/p>\n<p>The bi-monthly SimplyWise Retirement Confidence Index has tracked sentiment regarding retirement and savings over the course of the pandemic. Now in its fourth iteration, the survey continues to find that a majority of Americans (59%) are more concerned about retirement today compared to a year ago. The latest Index polled 1,090 Americans ages 18+ between November 8-10, 2020. The survey explored how citizens are approaching savings, Social Security, 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-6f3ea5e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6f3ea5e\" 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-5b1e7dc\" data-id=\"5b1e7dc\" 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-7a9efb7 elementor-widget elementor-widget-text-editor\" data-id=\"7a9efb7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-38ab976 elementor-widget elementor-widget-heading\" data-id=\"38ab976\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\">Key Findings<\/h1>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-b0df80f elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"b0df80f\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<ul>\n<li><strong>71%<\/strong>\u00a0of Americans aged 70+ are concerned about Social Security drying up \u2013 up from 29% in July and<strong>\u00a054%<\/strong>\u00a0in September.<\/li>\n<li><strong>43%<\/strong>\u00a0of Social Security beneficiaries now worry about outliving their savings in retirement.<\/li>\n<li><strong>47%<\/strong>\u00a0of Americans experienced an attempted Social Security scam in the last 3 months.<\/li>\n<li><strong>74%<\/strong>\u00a0of workers now plan to work in retirement (up from 65% in May) \u2013 a pandemic high.<\/li>\n<li><strong>19%<\/strong>\u00a0of people in their 50s now plan to work full-time in retirement (over double the reported 8% in May).<\/li>\n<li>Nearly half of people laid off or furloughed due to COVID-19 saved $0 for retirement in the last year \u2013 up from 27% in September.<\/li>\n<li><strong>29%<\/strong>\u00a0of 401k holders are now planning to withdraw early from that account to pay the bills\u00a0\u00a0\u2013 a pandemic high.<\/li>\n<li><strong>34%<\/strong>\u00a0of Americans are now planning to change their investment strategy to keep more in cash accounts.<\/li>\n<li><strong>56%<\/strong>\u00a0of Americans are willing to risk getting COVID in order to work, including 35% of seniors (60+).<\/li>\n<li><strong>94%<\/strong>\u00a0of Democrats vs.\u00a0<strong>63%<\/strong>\u00a0of Republicans are willing to follow a national mask mandate if instituted.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0893eb4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0893eb4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9895bbf\" data-id=\"9895bbf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f4fe02f elementor-widget elementor-widget-image\" data-id=\"f4fe02f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".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=\"477\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.16.56-PM-1024x763.png\" class=\"attachment-large size-large wp-image-1169\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.16.56-PM-1024x763.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.16.56-PM-300x223.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.16.56-PM-768x572.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.16.56-PM-1536x1144.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.16.56-PM.png 1728w\" 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-23d0aa7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"23d0aa7\" 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-b6803dc\" data-id=\"b6803dc\" 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-6fa3e44 elementor-widget elementor-widget-text-editor\" data-id=\"6fa3e44\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-0cfc931 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"0cfc931\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-86915b4 elementor-column elementor-col-100 elementor-top-column\" data-id=\"86915b4\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-1749e56 elementor-widget elementor-widget-heading\" data-id=\"1749e56\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Majority of Americans concerned about 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-77d9316 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"77d9316\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-3611cd5 elementor-column elementor-col-100 elementor-top-column\" data-id=\"3611cd5\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-215874c elementor-widget elementor-widget-text-editor\" data-id=\"215874c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>Since beginning to measure retirement sentiment in May 2020, the SimplyWise Index has found that confidence remains low though unchanged. When asked how they feel about their retirement today compared to this time last year, 59% of Americans say they are more concerned now. This is compared to 56% in May, 62% in July, and 58% in September.<\/p>\n<p>For those not yet claiming Social Security benefits, financial concerns are among the highest anxieties for retirement. Fifty-three percent worry about Social Security drying up, and 50% worry they will outlive their savings. Another 46% worry about paying medical bills, and 41% more generally worry about their ability to pay daily living expenses when they retire. Not to mention the uptick in <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\/internal-revenue-service\">social security related scams<\/a> and the <a href=\"https:\/\/www.simplywise.com\/whats-this-charge\">targeted fraud<\/a> these Americans must be so vigilant against.<\/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-3f2268f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3f2268f\" 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-869710e\" data-id=\"869710e\" 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-f31b784 elementor-widget elementor-widget-image\" data-id=\"f31b784\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"71\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.18.03-PM-1024x114.png\" class=\"attachment-large size-large wp-image-1170\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.18.03-PM-1024x114.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.18.03-PM-300x33.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.18.03-PM-768x85.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.18.03-PM-1536x170.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.18.03-PM-2048x227.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-9e3e9e8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9e3e9e8\" 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-fb5e305\" data-id=\"fb5e305\" 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-69cb527 elementor-widget elementor-widget-text-editor\" data-id=\"69cb527\" 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 Americans already claiming Social Security, 55% now worry about their benefits drying up\u2014a significant increase from the 45% reported in May. A pandemic high of 43% of beneficiaries now worry about outliving their savings in retirement. That is up from 38% in May.<\/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-c0d71f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c0d71f7\" 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-e89d007\" data-id=\"e89d007\" 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-81de849 elementor-widget elementor-widget-image\" data-id=\"81de849\" 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=\"461\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Frame-43-1.svg\" class=\"attachment-large size-large wp-image-1171\" 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-2588c7b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2588c7b\" 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-9d39c87\" data-id=\"9d39c87\" 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-15035f1 elementor-widget elementor-widget-text-editor\" data-id=\"15035f1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Similar to the results of the May, July and September 2020 Indices, the November Index found that 42% of American workers fear they will not be able to retire at all. For Americans in their 50s, who are nearing the legal retiring age, one in three worry they will not be able to retire. But that number remains highest for younger workers. Indeed, 46% of millennials today worry they will have to work for their whole lives.<\/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-5cdc15c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5cdc15c\" 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-9a23aaa\" data-id=\"9a23aaa\" 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-a59367c elementor-widget elementor-widget-template\" data-id=\"a59367c\" 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-9dfc80a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9dfc80a\" 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-f9e8785\" data-id=\"f9e8785\" 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-6671d9a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6671d9a\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#0c0d0e;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon .elementor-divider-separator:before,.elementor-widget-divider--view-line_text .elementor-divider-separator:after,.elementor-widget-divider--view-line_text .elementor-divider-separator:before{display:block;content:\"\";border-bottom:0;flex-grow:1;border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--element-align-left .elementor-divider .elementor-divider-separator>.elementor-divider__svg:first-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-left .elementor-divider-separator:before{content:none}.elementor-widget-divider--element-align-left .elementor-divider__element{margin-left:0}.elementor-widget-divider--element-align-right .elementor-divider .elementor-divider-separator>.elementor-divider__svg:last-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-right .elementor-divider-separator:after{content:none}.elementor-widget-divider--element-align-right .elementor-divider__element{margin-right:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-688457d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"688457d\" 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-25159e8\" data-id=\"25159e8\" 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-cab57fd elementor-widget elementor-widget-text-editor\" data-id=\"cab57fd\" 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-4050c48 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4050c48\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-85b47b3 elementor-column elementor-col-100 elementor-top-column\" data-id=\"85b47b3\" 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-326341c elementor-widget elementor-widget-heading\" data-id=\"326341c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">State of 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-384aa10 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"384aa10\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-7b4b662 elementor-column elementor-col-100 elementor-top-column\" data-id=\"7b4b662\" 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-7d1dc88 elementor-widget elementor-widget-text-editor\" data-id=\"7d1dc88\" 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>COVID-19 has impacted the careers and finances of many Americans nearing retiring age. Of people in their 50s, 22% are now planning to postpone retirement from work, given the current economic climate. Of people in their 60s, 15% are now planning to postpone retirement. And of people in their 50s and 60s, 32% are now delaying Social Security retirement benefits. Those plans may be attributed\u00a0to the fact that only 61% of workers in their 50s and 60s are making the same income they did prior to the pandemic.<\/p>\n<p>At the same time, COVID-19 has pushed many others into early retirement, whether because of health concerns in going back to work; offerings of early retirement packages; or being let go. Of all those who lost their job or were furloughed in the pandemic, 10% are now planning to retire earlier than anticipated. For Americans in their 50s and 60s, one in ten are now planning to retire earlier than intended. And 13% in their 50s and 60s are now considering claiming Social Security retirement benefits early.<\/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-7a43e5c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a43e5c\" 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-08439dd\" data-id=\"08439dd\" 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-c9cfeff elementor-widget elementor-widget-image\" data-id=\"c9cfeff\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"71\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.04-PM-1024x113.png\" class=\"attachment-large size-large wp-image-1172\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.04-PM-1024x113.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.04-PM-300x33.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.04-PM-768x85.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.04-PM-1536x170.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.04-PM-2048x227.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-5b21ba2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b21ba2\" 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-c927e13\" data-id=\"c927e13\" 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-acbf7ec elementor-widget elementor-widget-text-editor\" data-id=\"acbf7ec\" 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>However, for many Americans, retiring from work does not necessarily mean stopping work altogether. The November Index found that 74% of workers today now plan to work after claiming Social Security retirement benefits. That is up from 67% in May, 72% in July, and 73% in September.\u00a0\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-ddcf335 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ddcf335\" 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-eb4e29d\" data-id=\"eb4e29d\" 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-ce50ae2 elementor-widget elementor-widget-image\" data-id=\"ce50ae2\" 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=\"467\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.47-PM-1024x747.png\" class=\"attachment-large size-large wp-image-1173\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.47-PM-1024x747.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.47-PM-300x219.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.47-PM-768x560.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.21.47-PM.png 1151w\" 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-3afe0d9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3afe0d9\" 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-07f2cff\" data-id=\"07f2cff\" 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-0e89067 elementor-widget elementor-widget-text-editor\" data-id=\"0e89067\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Of course, that percentage includes both people who plan to work full-time and those planning to work part-time. The vast majority of people who plan to work in retirement will work part-time. However, the November Index found that a pandemic high of 19% of people in their 50s now plan to work full-time after claiming retirement benefits. The May Index found less than half that number\u2014just 8% of people in their 50s\u2014plan to work full-time upon \u201cretiring\u201d.<\/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-f6c70b9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f6c70b9\" 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-5503a92\" data-id=\"5503a92\" 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-64c54ae elementor-widget elementor-widget-image\" data-id=\"64c54ae\" 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\/full-work.svg\" class=\"attachment-large size-large wp-image-1174\" alt=\"seniors planning to work full time 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-434eda6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"434eda6\" 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-1e45379\" data-id=\"1e45379\" 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-a685217 elementor-widget elementor-widget-text-editor\" data-id=\"a685217\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Interestingly, for current Social Security retirement beneficiaries in their 60s and 70s, the numbers are lower, but not by much. In fact, the November Index found that 58% of beneficiaries in that age group are working full- or part-time. Of course, the majority plan to work-part time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e3a81c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e3a81c2\" 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-bf7a201\" data-id=\"bf7a201\" 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-32d2f94 elementor-widget elementor-widget-image\" data-id=\"32d2f94\" 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=\"70\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.23.26-PM-1024x112.png\" class=\"attachment-large size-large wp-image-1175\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.23.26-PM-1024x112.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.23.26-PM-300x33.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.23.26-PM-768x84.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.23.26-PM-1536x169.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.23.26-PM-2048x225.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-65ef758 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"65ef758\" 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-e4d4e94\" data-id=\"e4d4e94\" 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-11c02a1 elementor-widget elementor-widget-text-editor\" data-id=\"11c02a1\" 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-119f655 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"119f655\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-9258be4 elementor-column elementor-col-100 elementor-top-column\" data-id=\"9258be4\" 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-b6fc36e elementor-widget elementor-widget-text-editor\" data-id=\"b6fc36e\" 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 number of seniors working in \u201cretirement\u201d is indeed high. However, the disconnect with the 74% who plan to work and the 58% of seniors in their 50s and 60s who are working in retirement could be due to a few factors. On one hand, it could be indicative of a changing trend. On the other hand, it could be yet another indicator of financial planning anxieties for retirement.\u00a0Either way, it is reflective of that fact that many do in fact count on having their work income into their 60s and 70s. However, health issues or unexpected job losses (like many are facing today) can force people into early retirement. That is why, wherever possible, alternative savings or assets are critical for retirement.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-0bfc203 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"0bfc203\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-ee031a5 elementor-column elementor-col-100 elementor-top-column\" data-id=\"ee031a5\" 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-355f79d elementor-widget elementor-widget-divider\" data-id=\"355f79d\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-divider\">\u00a0<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-843df5f elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"843df5f\" 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-ff9b6db elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ff9b6db\" 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-ffefcd6\" data-id=\"ffefcd6\" 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-b1c6b98 elementor-widget elementor-widget-text-editor\" data-id=\"b1c6b98\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-20188dc elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"20188dc\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-b9a4288 elementor-column elementor-col-100 elementor-top-column\" data-id=\"b9a4288\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-3a6ba1d elementor-widget elementor-widget-heading\" data-id=\"3a6ba1d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">State of savings<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-19c6506 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"19c6506\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-39f046f elementor-column elementor-col-100 elementor-top-column\" data-id=\"39f046f\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-018fe0b elementor-widget elementor-widget-text-editor\" data-id=\"018fe0b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>According to results of the November Index, 28% of Americans saved nothing for retirement in the last year. The results were similar to those of May, July and September, when an average one in three Americans saved $0 for retirement. Moreover, a majority (58%) saved under $1,000 for retirement in the last year.<\/p>\n<p>The numbers were dramatically worse when it came to workers currently unemployed or furloughed due to the coronavirus. In fact, 45% of those Americans saved $0 for retirement in the last year, up from 36% in July and 43% in September. A full 41% of them could not last a month off of their savings. And 26% could not last even two weeks off their savings. Given that, for those who are longer-term unemployed due to the pandemic, benefits at both the state and federal levels are running out, another stimulus bill may be critical for this group.\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-e3577be elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e3577be\" 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-352f78a\" data-id=\"352f78a\" 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-d1aec0a elementor-widget elementor-widget-image\" data-id=\"d1aec0a\" 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=\"464\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.24.45-PM-1024x742.png\" class=\"attachment-large size-large wp-image-1176\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.24.45-PM-1024x742.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.24.45-PM-300x217.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.24.45-PM-768x557.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.24.45-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-2e38455 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e38455\" 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-603d14b\" data-id=\"603d14b\" 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-470c610 elementor-widget elementor-widget-text-editor\" data-id=\"470c610\" 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 November survey also found that when it\u00a0came to older populations, savings numbers became even worse. Financial advisors typically recommend\u00a0<a href=\"https:\/\/www.fool.com\/retirement\/2019\/04\/09\/how-to-catch-up-on-retirement-savings-in-your-50s.aspx\">saving the most for retirement in your 50s and early 60s<\/a>. That is because there are special \u201ccatch up\u201d periods for those age 50 or older where they can 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>\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-e2e05fa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e2e05fa\" 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-8a5d043\" data-id=\"8a5d043\" 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-709aa96 elementor-widget elementor-widget-image\" data-id=\"709aa96\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/savings-50s.svg\" class=\"attachment-large size-large wp-image-1177\" 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-1ea5011 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1ea5011\" 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-ddfc9ea\" data-id=\"ddfc9ea\" 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-ac46ce1 elementor-widget elementor-widget-text-editor\" data-id=\"ac46ce1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There was also a gender and racial divide in saving.\u00a0When asked how long they could afford to not work and live off their savings, 38% of all Americans could not last a month. For men, however, 28% could not last a month, compared to 45% of women. 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-d560ba2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d560ba2\" 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-d03e6ed\" data-id=\"d03e6ed\" 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-56b5ca2 elementor-widget elementor-widget-image\" data-id=\"56b5ca2\" 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=\"299\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.26.16-PM-1024x478.png\" class=\"attachment-large size-large wp-image-1178\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.26.16-PM-1024x478.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.26.16-PM-300x140.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.26.16-PM-768x359.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.26.16-PM-1536x717.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.26.16-PM.png 1538w\" 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-af38fc6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af38fc6\" 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-9db6ca2\" data-id=\"9db6ca2\" 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-e61f418 elementor-widget elementor-widget-text-editor\" data-id=\"e61f418\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>And for those Americans who\u00a0<em>had<\/em>\u00a0previously saved, the \u201crainy day\u201d for which many set aside emergency savings has arrived. A reported 14% of all respondents are now planning to withdraw what they have in emergency savings to pay the bills. For those let go or furloughed due to the coronavirus pandemic, 28% will withdraw from emergency savings.<\/p>\n<p>Many Americans are also planning to dig into their retirement accounts to pay the bills. A total of 13% said they plan to tap their retirement savings. While financial advisors usually encourage those in their 50s to save at maximum levels to\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/06\/18\/how-to-get-serious-in-your-50s-about-planning-for-retirement.html\">\u201ccatch up\u201d on their retirement savings<\/a>, our survey found that almost one in ten (9%) in that age group are instead withdrawing from those savings to cover their expenses today.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ff88fb9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ff88fb9\" 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-bca1e92\" data-id=\"bca1e92\" 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-c65bef8 elementor-widget elementor-widget-image\" data-id=\"c65bef8\" 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=\"70\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.27.15-PM-1024x112.png\" class=\"attachment-large size-large wp-image-1179\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.27.15-PM-1024x112.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.27.15-PM-300x33.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.27.15-PM-768x84.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.27.15-PM-1536x168.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.27.15-PM-2048x224.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-e0f82ea elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e0f82ea\" 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-464efd5\" data-id=\"464efd5\" 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-5cf5c29 elementor-widget elementor-widget-text-editor\" data-id=\"5cf5c29\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Even more are planning to specifically tap their 401(k). A pandemic high of 29% of 401(k) holders in November reported they are planning early withdrawal of those accounts. There was again a racial divide in plans to tap 401(k)s. Of Black Americans, an incredible 44% are now planning to withdraw, compared to 41% of Hispanic Americans and just 24% of White Americans.\u00a0<\/p>\n<p>For those laid off due to the coronavirus, 40% are considering tapping their 401(k). Current financial pressures have pushed these\u00a0<a href=\"https:\/\/www.aarp.org\/retirement\/planning-for-retirement\/info-2020\/minorities-less-prepared-for-retirement.html\" target=\"_blank\" rel=\"noopener\">minority groups, who often have smaller nest eggs than White Americans<\/a>, as well as recently laid off workers to need to deplete their future savings further.<\/p>\n<p>The spike in numbers of people turning to these long-term savings accounts may be due to coronavirus-related legislation facilitating retirement withdrawals. Normally, withdrawing from your 401(k) or other retirement account before you are 59 \u00bd years old means a 10% penalty on the amount taken. The CARES Act, however,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/withdrawing-from-your-401k-during-coronavirus\/\">waives that 10% penalty on withdrawals up to $100,000<\/a>\u00a0for distributions made to an individual throughout 2020. It may be that these individuals are looking to take advantage of this break before year end. However, it does essentially entail borrowing from your future self, as the cash you take out won\u2019t have the opportunity to grow and compound over time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4dbeeba elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"4dbeeba\" 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-e304c03 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e304c03\" 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-331f420\" data-id=\"331f420\" 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-0f15ac0 elementor-widget elementor-widget-text-editor\" data-id=\"0f15ac0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-74e6677 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"74e6677\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-aa218a5 elementor-column elementor-col-100 elementor-top-column\" data-id=\"aa218a5\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-fbf4189 elementor-widget elementor-widget-heading\" data-id=\"fbf4189\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Financial insecurity is a new normal<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-6c88c81 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"6c88c81\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-718845d elementor-column elementor-col-100 elementor-top-column\" data-id=\"718845d\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-e9b104f elementor-widget elementor-widget-text-editor\" data-id=\"e9b104f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>The pandemic has ravaged employment opportunities and savings for many Americans today. In fact, 43% of Americans would not be able to come up with $500 cash right now without selling something or taking out a loan. This number has stayed relatively flat across the Index, with approximately four in ten Americans unable to come up with that cash. Yet it greatly varies across racial lines. While 38% of White Americans could not come up with $500 cash, for Black and Hispanic Americans, 63% could not come up with that money.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1246309 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1246309\" 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-17bb0e1\" data-id=\"17bb0e1\" 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-530e74d elementor-widget elementor-widget-image\" data-id=\"530e74d\" 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.svg\" class=\"attachment-large size-large wp-image-1180\" 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-6d48a91 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6d48a91\" 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-88c7fa1\" data-id=\"88c7fa1\" 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-2b0e28b elementor-widget elementor-widget-text-editor\" data-id=\"2b0e28b\" 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 number is also worse for people whose jobs or income have been cut by the pandemic. While the\u00a0<a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\">unemployment rate has fallen<\/a>\u00a0in recent months, it remains well above pre-COVID-19 levels. For workers furloughed or let go due to COVID-19, 62% could not come up with $500 cash today. That is compared to 44% of people who currently work today that could not come up with that money.<\/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-044991f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"044991f\" 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-b000923\" data-id=\"b000923\" 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-57ece42 elementor-widget elementor-widget-template\" data-id=\"57ece42\" 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-be14714 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"be14714\" 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-ebe4ced\" data-id=\"ebe4ced\" 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-fd0abee elementor-widget elementor-widget-text-editor\" data-id=\"fd0abee\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Perhaps for this reason, many Americans are looking to other assets to pay the bills right now. For example, as in the May, July and September surveys, one in ten are now considering selling their home. In line with the previous Indices\u2019 findings, another 10% are looking to refinance their mortgage. For Social Security beneficiaries, many of whom depend on their fixed income and retirement portfolios, a high of 17% are now considering selling their home given the economic climate. That is up from 11% reported in May. And 12% of beneficiaries are now considering refinancing 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-e989635 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e989635\" 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-dc307f1\" data-id=\"dc307f1\" 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-9eca96a elementor-widget elementor-widget-image\" data-id=\"9eca96a\" 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\/sell-their-home.svg\" class=\"attachment-large size-large wp-image-1181\" 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-4a3d99e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4a3d99e\" 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-35dd76c\" data-id=\"35dd76c\" 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-61e1018 elementor-widget elementor-widget-text-editor\" data-id=\"61e1018\" 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>This insecurity and, for many Americans, financial desperation, is causing some to take more \u201cdrastic\u201d measures during the pandemic. Despite recent record-breaking coronavirus case numbers, 56% of Americans reported that they are wiling to risk getting COVID-19 in order to work. There was a divide between Democrats and Republicans on this measure, with 50% of Democrats versus 69% of Republicans responding that they would risk contracting the virus to go to work. When asked whether they would be willing to follow a national mask mandate if instituted, 94% of Democrats reported they would, compared to 63% of Republicans. \u00a0<\/p>\n<p>The sharpest divide in willingness to risk COVID to work, however, was amongst age groups. American seniors (age 60+) were comparatively the least likely to risk getting the virus to work compared to Americans in their 20s, 30s, 40s, and 50s. The findings are indicative of the impact of the virus on older Americans who are typically higher-risk and so may be less willing or able to return to the workplace. In the coming months, this could significantly alter peoples\u2019 plans on when to begin claiming Social Security retirement benefits. At the same time, the 35% of seniors willing to risk COVID to go to work may be a further indicator of the financial anxiety many are feeling today.\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-8250328 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8250328\" 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-03bdf84\" data-id=\"03bdf84\" 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-c766d90 elementor-widget elementor-widget-image\" data-id=\"c766d90\" 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=\"410\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.30.17-PM-1024x656.png\" class=\"attachment-large size-large wp-image-1182\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.30.17-PM-1024x656.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.30.17-PM-300x192.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.30.17-PM-768x492.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.30.17-PM.png 1464w\" 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-9fa0d35 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9fa0d35\" 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-8889e1f\" data-id=\"8889e1f\" 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-398c3e5 elementor-widget elementor-widget-text-editor\" data-id=\"398c3e5\" 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, with the acceleration of coronavirus cases and new restrictions on business activity, the economic outlook is looking highly uncertain.\u00a0The November Index found that Americans were almost exactly split in their perception of the economy, with 33% saying they believe it will get better in the next six months\u2014and 31% saying they think it will get worse.<\/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-f546306 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f546306\" 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-1253d63\" data-id=\"1253d63\" 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-cbab0ef elementor-widget elementor-widget-image\" data-id=\"cbab0ef\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"400\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/get-better-economy.svg\" class=\"attachment-large size-large wp-image-1183\" 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-18ac742 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"18ac742\" 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-073cf10\" data-id=\"073cf10\" 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-66d1d98 elementor-widget elementor-widget-text-editor\" data-id=\"66d1d98\" 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>Again, there was a divide along party lines. Of Democrats, 46% believe the economy will get\u00a0<i>better<\/i>, where exactly 46% of Republicans believe it will get\u00a0<i>worse<\/i>. This is in stark contrast with the results from just two months ago. The September Index found that 43% of Democrats believed the economy would get worse, and 43% of Republicans believed it would get better. The dramatic flip has likely been influenced by the recent election results.<\/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-ed9f5e3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ed9f5e3\" 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-7865a65\" data-id=\"7865a65\" 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-11a6fd5 elementor-widget elementor-widget-template\" data-id=\"11a6fd5\" 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-569e12d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"569e12d\" 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-4e104fd\" data-id=\"4e104fd\" 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-2a3163d elementor-widget elementor-widget-text-editor\" data-id=\"2a3163d\" 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>Across the board, however, the pandemic and the political environment has pushed many Americans to make big changes to their financial habits, including saving more, curbing spending, and generally re-evaluating their budget and priorities. This includes changing investment strategies and asset allocations. For\u00a0example, the November survey found that\u00a034% of Americans are now planning to keep more in cash accounts. (And of those planning to make any change to their investment strategy, over half will do so to build up more of a cash buffer.)<\/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-b0b0862 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b0b0862\" 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-8b5039d\" data-id=\"8b5039d\" 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-3516ed0 elementor-widget elementor-widget-image\" data-id=\"3516ed0\" 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=\"68\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.33.15-PM-1024x108.png\" class=\"attachment-large size-large wp-image-1184\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.33.15-PM-1024x108.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.33.15-PM-300x32.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.33.15-PM-768x81.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.33.15-PM-1536x162.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.33.15-PM-2048x216.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-d1ef167 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d1ef167\" 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-8c340fb\" data-id=\"8c340fb\" 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-b408dc9 elementor-widget elementor-widget-text-editor\" data-id=\"b408dc9\" 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>However, 28% of Americans are seeing an opportunity in the stock market, and are now planning to invest in equities. Democrats appear more bullish on stocks, with 34% planning to buy, versus just 21% of Republicans. In fact, Republicans surveyed were overall less optimistic about \u201crisky\u201d assets including equities and cryptocurrency. Indeed, one in five Republicans are now looking to buy gold. Of Democrats, 9% reported that they now plan to invest in cryptocurrency, compared to just 5% of Republicans.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8dac07e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8dac07e\" 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-45065a0\" data-id=\"45065a0\" 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-9f896d4 elementor-widget elementor-widget-image\" data-id=\"9f896d4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"400\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Americans-investment-strategies-november.svg\" class=\"attachment-large size-large wp-image-1185\" alt=\"Americans&#039; investment strategies (as of November 8-10, 2020)\" \/>\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-224460f elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"224460f\" 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-df8b0df elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"df8b0df\" 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-1699719\" data-id=\"1699719\" 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-0c29e37 elementor-widget elementor-widget-text-editor\" data-id=\"0c29e37\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-58e5ac7 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"58e5ac7\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-1ebe817 elementor-column elementor-col-100 elementor-top-column\" data-id=\"1ebe817\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-72daa82 elementor-widget elementor-widget-heading\" data-id=\"72daa82\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">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-cbec582 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"cbec582\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-cd1d27f elementor-column elementor-col-100 elementor-top-column\" data-id=\"cd1d27f\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-2c5e0aa elementor-widget elementor-widget-text-editor\" data-id=\"2c5e0aa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>The uncertain economic outlook, largely divided along political lines, carries over into concern for the future of government programs. This is particularly true in the case of Social Security.\u00a0<\/p>\n<p>Even before the COVID-fueled national lockdown began,\u00a0the Social Security Board of Trustees reported earlier this year that its funds would be\u00a0<a href=\"https:\/\/www.ssa.gov\/oact\/trsum\/\" target=\"_blank\" rel=\"noopener\">depleted by 2035<\/a>\u00a0given current spending levels. Of course, that did not mean that Social Security would end in 2035. Instead, it meant that its cash reserves would be gone, and it would only be able to dole out what it collects in taxes each year. According to the Trustees, that would mean that the Administration would only be able to pay beneficiaries 79% of the money they are owed.<\/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-9343c27 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9343c27\" 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-865bf9f\" data-id=\"865bf9f\" 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-86c8157 elementor-widget elementor-widget-image\" data-id=\"86c8157\" 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=\"68\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.35.20-PM-1024x109.png\" class=\"attachment-large size-large wp-image-1186\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.35.20-PM-1024x109.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.35.20-PM-300x32.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.35.20-PM-768x82.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.35.20-PM-1536x163.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.35.20-PM-2048x218.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-3071c58 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3071c58\" 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-de92a02\" data-id=\"de92a02\" 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-7dd26e1 elementor-widget elementor-widget-text-editor\" data-id=\"7dd26e1\" 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>Its reserves are running out due to demographic trends. The generation behind Baby Boomers, GenX, is much smaller than the Boomers swelling the ranks of retirement beneficiaries. This means that there are less workers paying in taxes to fund those benefits.\u00a0So current tax revenues won\u2019t cover benefits and Social Security will have to tap the surplus.<\/p>\n<p>But the pandemic has accelerated the depletion of the program\u2019s reserves. The tens of millions of Americans who have lost their jobs over the course of the pandemic have wiped out the payroll taxes that fund Social Security\u2019s coffers. The longer they are out of a job, the deeper that deficit becomes.<\/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-e7db4dc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e7db4dc\" 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-a597ec7\" data-id=\"a597ec7\" 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-5f501ee elementor-widget elementor-widget-image\" data-id=\"5f501ee\" 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=\"476\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.36.07-PM-1024x761.png\" class=\"attachment-large size-large wp-image-1187\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.36.07-PM-1024x761.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.36.07-PM-300x223.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.36.07-PM-768x571.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2021\/01\/Screen-Shot-2023-06-23-at-1.36.07-PM.png 1392w\" 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-bcb1430 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bcb1430\" 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-cbad702\" data-id=\"cbad702\" 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-822e74d elementor-widget elementor-widget-text-editor\" data-id=\"822e74d\" 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-ef43bda elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"ef43bda\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-deb998d elementor-column elementor-col-100 elementor-top-column\" data-id=\"deb998d\" 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-d629a69 elementor-widget elementor-widget-text-editor\" data-id=\"d629a69\" 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 program\u2019s fate is tied to both\u00a0the length of the pandemic\u2019s toll on the labor market, as well as the new policies of the next president and Congress . Yet with control of the Senate still undecided and worsening virus numbers, it can be hard to imagine what the future of Social Security and retirement look like.<\/p>\n<p>For many, the November election results were concerning with regards to the future of the program. In fact, 42% of current Social Security beneficiaries reported feeling more concerned about the program\u2019s future after the election. That is compared with 32% of Americans not yet claiming who report feeling more concerned now.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-ee46992 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"ee46992\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-226f1d0 elementor-column elementor-col-100 elementor-top-column\" data-id=\"226f1d0\" 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-34a4807 elementor-widget elementor-widget-text-editor\" data-id=\"34a4807\" 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>As with the economic outlook, results were divided by political party. Only 18% of Democrats reported feeling more concerned about the future of Social Security, compared with 67% of Republicans. Results were also split by age group, with Americans age 70+ among the most concerned. In fact, 71% of those age 70 or older reported they are now concerned Social Security will dry up during their retirement\u2014up from 29% in July.\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-56b0f9d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"56b0f9d\" 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-8c5771c\" data-id=\"8c5771c\" 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-f66a383 elementor-widget elementor-widget-image\" data-id=\"f66a383\" 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\/frame-35.svg\" class=\"attachment-large size-large wp-image-1188\" alt=\"Americans 70+ concerned that Social Security will dry up\" \/>\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-8d99a55 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8d99a55\" 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-071a478 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"071a478\" 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-95cffae\" data-id=\"95cffae\" 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-8089033 elementor-widget elementor-widget-text-editor\" data-id=\"8089033\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-46dd74a elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"46dd74a\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-299737a elementor-column elementor-col-100 elementor-top-column\" data-id=\"299737a\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-37f4a38 elementor-widget elementor-widget-heading\" data-id=\"37f4a38\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">COVID-19 Social Security office closures<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-4548e98 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4548e98\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-2c9249b elementor-column elementor-col-100 elementor-top-column\" data-id=\"2c9249b\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-319c0b6 elementor-widget elementor-widget-text-editor\" data-id=\"319c0b6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">While the program\u2019s future remains uncertain, for current beneficiaries, COVID-19 has been highly disruptive. Since March, local Social Security offices have been closed to protect employees as well as the vulnerable populations they serve. However, in-person visits can be scheduled (by appointment only) for \u201cdire need situations,\u201d according to the Social Security Administration (SSA). Services normally available by phone or online remain in operation.\u00a0We break down, by state, the latest COVID-specific information for local offices:\n<ul>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/indiana\">Indiana Social Security office<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/kansas\">Kansas Social Security office<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/minnesota\/\">Minnesota Social Security office<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/oregon\">Oregon Social Security office<\/a><\/li>\n<li><a href=\"https:\/\/www.simplywise.com\/social-security-office\/vermont\">Vermont Social Security office<\/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<\/div>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-88203bc elementor-widget elementor-widget-text-editor\" data-id=\"88203bc\" 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>Note that with the confusion around the office closures and changing communication methods with the SSA, Social Security-related scams have escalated during the pandemic. In fact, the November Index found that an incredible 47% of Americans had experienced an attempted Social Security scam in the last three months. The numbers were worse for seniors; 53% experienced an attempted Social Security scam in the last three months. And 21% of seniors experienced more than\u00a0<i>three<\/i>\u00a0attempted Social Security scams in that time period.<\/p>\n<p>Staying informed of existing and emerging scams is critical to\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/staying-safe-online-amid-the-rise-of-covid-scams\/\">protecting yourself against fraudsters<\/a>. If you think you have been the attempted victim of such a scam, we recommend immediately reporting it to the Social Security Administration\u2019s Office of the Inspector General.\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-54d7588 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54d7588\" 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-5bb927c\" data-id=\"5bb927c\" 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-2ea289b elementor-widget elementor-widget-text-editor\" data-id=\"2ea289b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4367c70 elementor-widget elementor-widget-heading\" data-id=\"4367c70\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Takeaways<\/h1>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-29faffc elementor-widget elementor-widget-text-editor\" data-id=\"29faffc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>Eight months after the COVID-19 pandemic first sent towns and cities across the U.S. into lockdown, the virus continues to transform the way we live, work and retire. Now with record case numbers and political division continuing to rock the nation, the economic outlook appears highly uncertain. While federal and state officials seek to ease the financial burden on citizens and businesses, many of the new government policies and regulations can be confusing to navigate.\u00a0<\/p>\n<p>That is especially true when it comes to Social Security, which has been hit hard by the pandemic. COVID-19 has forced the SSA to move most of its operations and communications online or by phone. The future of the program appears to be subject to both the length and severity of the pandemic, as well as critical policy decisions made by the next Congress and president. A majority of Americans rely on these retirement benefits for a significant portion of their income in retirement today. Fixing the deficit will be critical to ensuring these seniors\u2019 benefits are not reduced during their lifetime.\u00a0<\/p>\n<p>Americans who are not yet retired but whose finances have been impacted by the pandemic can use this time to organize their finances. \u201cYou need to do what is right for your own personal financial situation today to get through these challenging times,\u201d says SimplyWise CEO Sam Abbas. \u201cBut given the uncertainty, it\u2019s more important than ever that when you\u2019re back on your feet, you prioritize organizing your finances, building back emergency and retirement savings, and investing in the future.\u201d By closely\u00a0<a href=\"https:\/\/www.simplywise.com\/\">tracking and reconciling expenses<\/a>, you can find areas to save in your current spending. Take the time to determine what you will need in retirement finances, and make any necessary adjustments to your savings and portfolio asset allocations. For those considering claiming Social Security, consider how you can maximize your benefits. A Social Security calculator can help determine any\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/social-security-retirement-benefits\/\" target=\"_blank\" rel=\"noopener\">earned<\/a>,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-spousal-benefits\/\">spousal\u00a0<\/a>or\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-and-death\/\">survivor<\/a>\u00a0benefits for which you\u2019re eligible.<\/p>\n<p>While the COVID-19 pandemic continues to alter our lives, you can take control by educating yourself about your financial options to ensure your future planning remains on track.\u00a0<\/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-3c06829 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3c06829\" 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-9647823\" data-id=\"9647823\" 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-ff8c35b elementor-widget elementor-widget-text-editor\" data-id=\"ff8c35b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-4225393 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4225393\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-d3d14af elementor-column elementor-col-100 elementor-top-column\" data-id=\"d3d14af\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-b58c3b8 elementor-widget elementor-widget-heading\" data-id=\"b58c3b8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h1 class=\"elementor-heading-title elementor-size-default\" style=\"text-align: center;\">Methodology<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-element elementor-element-a09217a elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"a09217a\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-row\">\n<div class=\"elementor-element elementor-element-15cc7dc elementor-column elementor-col-100 elementor-top-column\" data-id=\"15cc7dc\" data-element_type=\"column\">\n<div class=\"elementor-column-wrap  elementor-element-populated\">\n<div class=\"elementor-widget-wrap\">\n<div class=\"elementor-element elementor-element-a212333 elementor-widget elementor-widget-text-editor\" data-id=\"a212333\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<h2><br \/>SimplyWise conducted its November 2020 Retirement Confidence Index online, as a random sample survey of 1,090 Americans aged 18 and above. The survey was fielded November 8-10, 2020. It was intended to explore how citizens are looking at retirement, Social Security, and savings today, particularly in light of the coronavirus pandemic and political uncertainty. Explore results from previous Indices below:<\/h2>\n<h2><a href=\"https:\/\/www.simplywise.com\/blog\/may-2020-simplywise-retirement-confidence-index\/\">May 2020 Index<\/a><\/h2>\n<h2><a href=\"https:\/\/www.simplywise.com\/blog\/july-2020-simplywise-retirement-confidence-index\/\">July 2020 Index<\/a><\/h2>\n<h2><a href=\"https:\/\/www.simplywise.com\/blog\/september-2020-simplywise-retirement-confidence-index\/\">September 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-96e3a78 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"96e3a78\" 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-401aa7b\" data-id=\"401aa7b\" 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-319a3b7 elementor-widget elementor-widget-template\" data-id=\"319a3b7\" 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>November 2020 With a politically polarized nation and COVID-19 cases surging around the country, uncertainty has become the new normal in America. While jobless claims have recently dipped slightly, the unemployment rate and 11 million jobless workers reported in October are both approximately twice pre-COVID levels. A majority of citizens remain paycheck to paycheck, unable [&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-1167","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 November 2020 SimplyWise Retirement Confidence Index found that 71% of Americans aged 70+ are concerned about Social Security drying up...\" \/>\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\/november-2020-simplywise-retirement-confidence-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retirement Confidence Index - 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