The Covid 19 pandemic may have a big impact on your retirement plans

We are being asked to stay home thanks to the COVID-19 pandemic. This disease may be forcing many worker to stay home for much longer than they want, perhaps turning a layoff into a forced retirement.

Some of you may be counting the days until you can retire. Others may be getting a test run of what retirement could be like as they work from home, thanks to the coronavirus pandemic. Under normal circumstances, millions of Americans have had to retire early. With the economy at a near standstill due to the COVID-19 stay-at-home orders, many workers may be forced into early retirement.

Most people think the full retirement age is 65. However, those looking to get their full Social Security retirement benefit will need to work until they have reached the ages of 66 or 67. Seventy is the target for those looking to get the absolute largest monthly retirement income from Social Security. In case you didn't know, 62 is the earliest you can claim Social Security benefits for retirement. Medicare benefits kick in a 65.

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