The Daily Money 08-04-20

Happy Tuesday, Daily Money readers. It's Brett Molina returning with another round of Money and Tech headlines.

Although $100,000 is a lot of money, it's still not enough if you plan to retire. Yet as of April 2020, 43% of adults 60 and older had less than $100,000 in retirement savings. Here's what to do to help bolster your financial security for retirement.

As we all navigate through the COVID-19 pandemic, financial security has emerged as one of the biggest concerns, especially for millennials and Gen Zers. A report from TD Ameritrade found 59% of young Americans say the pandemic has derailed their goal of becoming financially independent.

Finally, the economic effects of the COVID-19 pandemic will likely linger for years to come, and the fallout will extend beyond just job losses.

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Brett Molina, Money/Tech editor