American workers are re-evaluating how they want to spend their working lives as they navigate a once-in-a-generation pandemic Via forbesadvisor
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.is well underway. American workers are re-evaluating how they want to spend their working lives as they navigate a once-in-a-generation pandemic.
“Are you going to be unemployed for six months or a year?” asks Russell. “You’ll no longer be paying into Social Security during that time.”in retirement will be determined by your earnings history and how old you are when you apply for the program.
“Social Security is based on current workers paying benefits for current beneficiaries,” Russell notes. “If we have a large number of people resigning, it could affect Social Security numbers.”might run out faster or taxes might need to be raised sooner to make up the difference between taxes paid in by current workers to the amount of benefits paid out to beneficiaries each year.It can be tempting to tap your retirement funds as you tap out of a job.
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