COVID-19 Has Forced 16 Percent of Baby Boomers to Delay Retirement

A recent TD Ameritrade survey found that 16 percent of baby boomers have delayed their retirement because of COVID-19 while 21 percent are considering it, reports the Mooresville Tribune . Postponing retirement carries several benefits, including giving savings time to recover and avoid locking in permanent losses. A second advantage to working longer is the opportunity to save more and build up the nest egg — a bulwark against unexpected financial stress. A third advantage is an opportunity to delay filing for Social Security benefits, which grow 8 percent each year, up until age 70.