COVID-19 Archives

What the Pandemic Can Teach Us About Life Insurance Demand

A person holding documents labeled "Life Insurance" and "Vaccinated" with a large shield in the background, representing protection and security.

COVID-19 surprised everyone by confronting them with both health and financial shocks, forcing consumers to reassess their own vulnerability and, potentially, their need for life insurance.

“The COVID-19 pandemic was catalyst for an unprecedented convergence of health and financial risks, forcing consumers to reexamine their vulnerability and, potentially, their need for life insurance. A new study investigates how these shocks influenced consumer demand for life insurance. Report by Abigail Hurwitz, Olivia S. Mitchell at the University of Pennsylvania, and Orly Sade of the Hebrew University of Jerusalem. Via RetireSecure blog.…Read More

A retirement mystery: How did workers keep saving through the pandemic?

A pink piggy bank wearing a blue surgical mask, symbolizing financial protection or caution during a health crisis.

Despite job losses, COVID’s effect on retirement savings was inconsequential – unlike the Great Recession – explains John Sabelhaus from the Brookings Institute via FinancialPlanning.…Read More

Americans’ Economic Security Improved Early in the Pandemic

A person placing or removing a blue surgical mask from a wallet containing various cards.

Early pandemic stimulus increased financial stability for the economically vulnerable. However, causality, stability dissipation rates, and long-term pandemic effects remain important questions explain Marco Angrisani, Jeremy Burke, and Arie Kapteyn via RetireSecure blog. …Read More

Retirement Security in America and COVID-19: The Outlook

An elderly person wearing a blue medical mask, standing indoors, looking out of a window. The reflection of buildings and a street can be seen on the glass.

COVID-19 changed Americans’ lives and created much uncertainty. Greater retirement system challenges will follow, explains Anna Rappaport via the RetireSecure Blog. …Read More

Why the COVID-19 Pandemic Will Depress Retirement Saving and Income Outcomes

Two people wearing face masks are sitting on separate benches in a park, with trees and natural light in the background.

The COVID-19 pandemic will likely have longer-term economic effects, as people fearing financial fragility are less likely to save more for retirement or to annuitize their retirement savings: new research from Abigail Hurwitz, Olivia S. Mitchell, and Orly Sade.…Read More

Retirement in the wake of Covid-19

An elderly person sits on a park bench beside a bicycle, surrounded by greenery. The individual appears relaxed, enjoying a peaceful moment outdoors.

Many retirement systems were struggling even before the pandemic, but aging populations and COVID’s impact require reforms even more urgently, notes Wharton Prof. Olivia S. Mitchell; see the AP7 2020 Annual Report here.…Read More

Why Early 401(k) Withdrawals Are a Bad Idea

A small group of people seated in a professional setting, likely attending a seminar or classroom session. Some are taking notes or holding documents.

Early 401(k) withdrawals can drastically reduce retirement assets; if need be, borrowing from a retirement account can be a safer option, explains Wharton Prof. Olivia S. Mitchell. Via Knowledge@Wharton.…Read More

Olivia S. Mitchell on Wharton Business Daily

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Congress removed some penalties from early withdrawals from retirement savings, but taking money out early can dramatically reduce one’s retirement assets, cautions Wharton Prof. Olivia S. Mitchell speaking with Dan Loney on Wharton Business Daily. …Read More

Here’s a New COVID-19 Nightmare, for You

Two people wearing masks interacting in an outdoor gym area, with one sitting on a bench beside a dumbbell and the other standing.

The COVID-19 pandemic is eroding retirement saving habits and long-term financial strategies of those already financially vulnerable, report Wharton Prof. Olivia S. Mitchell, & Profs. Abigail Hurwitz and Orly Sade of the Hebrew University of Jerusalem, in their new study via NBER.…Read More