The Daily Money 11-20-20

Good morning, Daily Money readers. You did it. You made it to Friday! It's Josh Rivera here bringing you the top Money headlines.

Let's start with a fun fact: The average American (aged 55 to 75) has $920,400 in retirement savings, according to a Charles Schwab survey.

"Socking away close to $1 million may seem like a difficult task. But actually, if you start early enough, you may be surprised at how seamlessly you reach that goal," says Maurie Backman of The Motley Fool.

Speaking of personal finances, we're in open enrollment season. So make sure you know your deadlines and review your employer's options for 2021. Here's what else you need to know.

And in hopeful news, a team of University of Michigan economists sees encouraging signs that could bring economic life close to normal by the end of 2021 given that we get a vaccines by the summer.

"Regardless of what happens in the near term with the virus, I think the recovery will be pretty vigorous once we get a wide rollout of a vaccine," Daniil Manaenkov, U.S. forecasting specialist, said in a statement to Paste BN Network columnist Susan Tompor. 

Finally, if you haven’t received your $1,200 stimulus check, there’s still time. But you better act fast. And by fast I mean tomorrow 3 p.m. ET. Paste BN reporter Jessica Menton has the details.

— Josh Rivera, Money & Tech NOW editor