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Is the coronavirus a wake-up call for Americans saving for retirement?
The coronavirus pandemic has served as a cautionary tale for Americans saving for retirement. Nearly a quarter of Americans tapped into, or plan to tap into, their retirement accounts because they lack adequate three to six months of cash savings. This is according to a leading expert, Luke Lloyd, a wealth advisor at Strategic Wealth Partners. Lloyd said, “I think a lot of people did not have those three to six months and now thankfully the PPP program along with the stimulus from the federal government kind of helped bridge that gap, so nobody felt the pain that was really needed.” To read more of why Mr. Lloyd feels the pandemic is a wake-up call to Americans, click here …
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