How to Avoid Retiring Early Due to the Coronavirus Crisis

An estimated 15% of people who have lost their jobs in the course of the pandemic are now planning to retire earlier than initially anticipated, according to the SimplyWise September 2020 Retirement Confidence Index. If you retire early, you may be forced to claim Social Security early, thereby slashing your monthly benefit for life. Secondly, retiring early could mean falling short on savings and having to constantly cut corners in retirement to compensate.