Delayed Retirement May Be the New Normal

With unprecedented levels of unemployment and businesses shuttered during the Covid pandemic, one-quarter of Americans say they will be delaying their retirement plans and call it “the new normal.”

Brett Goldstein isn’t buying the package. “Everyone is using the term ‘new normal’ but this concept of delayed retirement has been the new normal for a while. It’s really brought it more to the forefront I think.” Goldstein is Director of Retirement Planning at American Investment Planners. You may have seen him on Fox Business Network, or read his articles in Kiplinger’s, Forbes, the Wall Street Journal, and other publications. Goldstein says Americans normally aren’t very good at preparing for retirement, and current disruptions are only exposing weaknesses more than creating them.

For an in depth view of how Covid 19 has changed people’s retirement plans, Forbes Magazine commissioned a YouGov survey and found it may not be as much as originally speculated, and the new normal isn’t much different than the old normal. Younger people were the most likely to have to tap into savings, and less concerned about retirement concerns. You can read the article here.

photo by getty images

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