The cornovirus crisis could have a lasting impact on the Boomers' retirement. GettyEventually, the economy and the stock market will recover and COVID-19, the disease caused by the novel coronavirus, will be contained. Late Boomers were on track to save more, the study found, but got slammed by the Great Recession and layoffs in their 40s. Others settled for lower paying jobs without 401(k)s. Alarmingly, for late Boomers in the middle wealth quartile, 401(k) participation was actually lower in 2016 than before the Great Recession. Now, even if the news from that triennial survey is good, it might be just a bittersweet historical footnote—-particularly for any late Boomers who lose their jobs in a coronavirus recession.

Source: Forbes March 16, 2020 15:22 UTC