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Boomers aren't saving enough & other sobering facts about retirement

Mediafeed Logo By Dr. Francesca Ortegren of Mediafeed | Slide 1 of 26: What will retirement savings look like in a post-pandemic environment? The financial effects of COVID-19 have been widespread and varied. In 2020, there were high unemployment rates, historically low mortgage rates, and an increase in housing prices, including an average of $5,749 in closing costs. There was also a rise in the number of Americans deciding to withdraw from their retirement accounts either to make ends meet or to make large purchases (e.g., a new house).Although Congress has passed measures such as the Setting Every Community Up for Retirement Enhancement (SECURE) Act to address a wide variety of issues affecting Americans before and after retirement, it has already been deemed inadequate and in need of expansion. This article will cover 24 things to know about retirement savings in 2022 so that you can better prepare for your future. Related: The Pandemic Is Still Destroying Americans’ Retirement Savings: 2021 AnalysisSPONSORED: Find a Qualified Financial Advisor1. Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now.

25 Things to Know About Retirement Savings in 2022

What will retirement savings look like in a post-pandemic environment? 

The financial effects of COVID-19 have been widespread and varied. In 2020, there were high unemployment rates, historically low mortgage rates, and an increase in housing prices, including an average of $5,749 in closing costs. There was also a rise in the number of Americans deciding to withdraw from their retirement accounts either to make ends meet or to make large purchases (e.g., a new house).

Although Congress has passed measures such as the Setting Every Community Up for Retirement Enhancement (SECURE) Act to address a wide variety of issues affecting Americans before and after retirement, it has already been deemed inadequate and in need of expansion. This article will cover 24 things to know about retirement savings in 2022 so that you can better prepare for your future. 

Related: The Pandemic Is Still Destroying Americans’ Retirement Savings: 2021 Analysis

SPONSORED: Find a Qualified Financial Advisor

1. Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.

2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now.

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