How Covid-19 Will Change Retirement and Aging

Dec 8, 2020 / Amanda Chase, Horsesmouth Assistant Editor

As the pandemic wreaks havoc on our mental and physical health, it is also quietly reshaping how Americans will face retirement and old age in the years to come. Some changes in store will be stressful. Rising government deficits and falling bond yields are creating so much uncertainty about financing retirement that most people who can continue to work will—and for as long as possible. Lessons learned from the virus may even help us combat ageism. Surveys and studies indicate that older adults are coping emotionally better than younger generations. Here are 10 ways aging and retirement are likely to change:

  1. More will age at home.
  2. Older people will benefit from a technology boom.
  3. Lifespans will decline.
  4. We will have a better handle on what we want to do with our time.
  5. We will plan for death.
  6. We will embrace healthier lifestyles.
  7. We need to save more to retire.
  8. The 401(k) will morph into a multipurpose account.
  9. We will work longer.
  10. Our views on aging will change.

You can find the full article at The Wall Street Journal.

 

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