Kiplinger

Don’t Have a Pension? The SECURE Act Could Help

Americans have been facing greater pressure to shoulder the responsibility for their own retirement. The safety net is shrinking, as fewer workers have access to guaranteed pension plans when they retire, funding for Social Security has come under threat, and costs for everything from housing to health care to long-term care continue to rise. Now, with the economic fallout from the pandemic, the uncertainty is growing.

According to Nationwide’s sixth annual , powered by the Nationwide Retirement Institute, roughly three-fourths of investors (72%) say the COVID-19 pandemic has had a negative impact on how long they are able to live off their current retirement savings. Nearly two-thirds of investors (63%) expect to require 20 to 30 years of income in retirement — but less than half (47%) think they can live off their savings

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