3 Tips to Stay on Track Financially if You Are Forced to Retire Early
About half of all Americans retired earlier than they expected and, of that number, 34% did so due to an unexpected job loss, according to the Retirement Risk Readiness Study 2020 released by Allianz Life Insurance.
As the survey was conducted in January, before the COVID-19 pandemic hit and caused millions of people to lose their jobs, the number of people forced to retire early will surely rise over the next few years. "Many Americans are in need of a wake-up call about the very real possibility that their retirement start date might not be when they want it to be, particularly given the recent turmoil," Kelly LaVigne, vice president of Consumer Insights at Allianz Life Insurance, a subsidiary of Allianz Group, said.
LaVigne offered three tips to help people stay on track for retirement if their plans are derailed into a forced early retirement.
Source Fool.com
