It’s no secret that Covid-19 has affected everyone and everything, and we’ve been keeping tabs specifically on the impact it has had so far on retirement plans. Without boring you to tears with all the statistics, we have cherry-picked data points from some of our retirement plan recordkeeper partners to demonstrate the current state.

Everyone has a struggle bus fueled by Covid-19. In the midst of the abrupt life changes we are all experiencing and the struggle and adaptation they inevitably cause. I offer three thoughts about this pandemic and how to approach retirement. As Joseph Campbell said, “It is by going down into the abyss that we recover the treasures of life.”

Financial fragility was found to be connected to how a person feels about their chances of being infected by COVID-19 as well as their beliefs about the spread of the disease. If financial fragility (AKA financial wellness) can influence behavior and beliefs on non-financial topics, perhaps employers should examine the role that financial wellness plays within their organization and benefits package. This article offers guidance.