trends The Pandemic Effect Many have dipped into their retirement savings, and some have even stopped or reduced their contributions. 34% of all age groups have taken money from their retirement account due to the economic effects of COVID-19. Millennials have needed to do so the most. Participants Who Drew on Their Retirement Savings 48% 32% Millennials Generation X 22% Baby Boomers Participants Who Have Stopped or Reduced Their Plan Contributions 50% Millennials 41% Generation X 36% Baby Boomers ... say markets wil remain volatile 67% Source: 2020 Allianz Q4 Quarterly Market Perceptions Study 10 | planadviser.com January-February 2021 ... say the economy will improve 2021 Participant Predictions 72% 66% say the impact of the pandemic on the economy has prompted them to rethink how to protect their retirement savings. 53% ... say the coronavirus pandemic is having a negative effect on their retirement savings. Taking steps to help mitigate these risks now can make a big difference, in both the long-term and short-term, as we wait to see what 2021 has in store for us. Aimee Johnson, vice president of advanced markets and solutions, Allianz Lifehttp://www.planadviser.com