According to the StreetWise Retirement Confidence Index released in May, 26% of respondents said they would postpone retirement due to the coronavirus. That will enable you to add $130,000 to your retirement portfolio by working and contributing for an additional five years. Later Retirement Means Delaying Retirement Plan WithdrawalsThe flipside to having additional years to make contributions to your retirement plan is you’ll also avoid taking withdrawals. That can be an especially important strategy for making an underfunded retirement portfolio last longer. This will be especially necessary if your retirement portfolio is already a bit on the short side.

Source: Forbes June 26, 2020 15:33 UTC