Will the COVID-19 Crisis Derail Your Retirement?
COVID-19 has turned life upside down for millions of Americans, and with people being told to self-isolate, it means many won't have the option to go to work for the foreseeable future. And that could throw your retirement planning off-course.
After all, without an income, you won't have the option to keep funding a retirement savings plan. And if you rack up debt in the course of paying your bills, you'll have a harder time finding money to fund your long-term savings once you are back to work, as your income will suddenly be monopolized by debt payments.
All of this is a very scary notion to contemplate. But here's some good news: If you make the right decisions in the coming weeks or months, the upheaval caused by COVID-19 won't have to ruin your chances of retiring when you want to.
Source Fool.com
