Retirement as a Last Resort: How Americans Cope with Financial Need

2020 was not an easy year for anyone, and the COVID-19 pandemic increased financial strain on many Americans. Together, a survey by The Harris Poll and Empower Retirement data show how consumers respond to difficult economic times, and how the pandemic could impact their retirement plans.

The research shows that most people see removing money from their retirement account as a last resort for cash. Interestingly, employees who are provided retirement advice by their employers are more likely to protect their retirement accounts and continue making during lean times.

For more information, read the Empower Institute’s full research paper.