1-in-5 Younger Workers Are Making This Huge Investing Mistake Due to COVID-19
The COVID-19 pandemic has prompted some younger workers to make a change that could cost them. As many as 21.1% of workers who are 10 or more years from retirement have suspended contributions to their retirement accounts, according to a new study from financial management site Personal Capital.
For some, this makes sense. If you've suffered a job loss or cut in income and are worried about paying bills, retirement investing should be on the back burner. And if you don't have an emergency fund, you may want to focus on building one during these turbulent economic times, even if retirement saving has to wait.
But if you've pulled back on investing out of concern about what the stock market will do during a COVID-19 recession, you may want to rethink that because suspending or reducing your contributions right now could be very costly.
Source Fool.com
