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Finley Alexander Wealth Management - COVID and 401K

Posted at 2:21 PM, Mar 22, 2021
and last updated 2021-03-22 14:21:08-04

According to a new report, 401k contributions have increased more than 25% over the last year - but only for men. Historically it's been harder for women to save due to pay gaps and other factors, but women have left the workforce en masse this year, making it even harder to save for retirement. As women picked up more responsibilities at home as kid's school and activities were canceled, many reduced hours, shifted responsibilities, or left their jobs altogether

People who stayed gainfully employed during the shutdown were able to save on other expenses like commuting tolls and gas, lunches out, etc, making to easier to maximize or grow their contributions.

Learn more here.