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Study: Americans are cautiously confident on their retirement plans, despite pandemic

Published: Apr. 6, 2021 at 5:23 PM CDT
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WAUSAU, Wis. (WSAW) - More than 8 in 10 (82%) of Americans say the events of the past year have impacted their retirement plans, with one third estimating it will take 2-3 years to get back on track, according to Fidelity Investments®' recent State of Retirement Planning study.

Here’s the good news: the vast majority of American retirement savers are still confident they will be able to retire when and how they want. And, 36% are now even more confident in their retirement plans than they were before the events of the past year.

One important factor in going from scared to prepared when it comes to retirement: planning. In fact, the planning effect can be significant, with the study showing people with a firm retirement plan in place have greater peace of mind they can handle the unexpected and greater confidence in facing the future, compared to those who don’t. Even better, you may be farther along with the planning process than you realize.

On, Tuesday, Melissa Ridolfi, senior vice president of retirement and cash management at Fidelity Investments joined NewsChannel 7 at 4 to discuss the findings of this new study, including how people can quickly figure out where they stand.

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