Man holding coin jar Despitetheir optimism, non-retirees may be thinking a bit more aboutsubsidizing traditional retirement income streams with part-timework. (Photo: Shutterstock)

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As COVID-19 impacts jobs and investments around the country, youwould assume that Americans are worried about how this pandemiccould impact their financial plans for retirement. But according toa new Gallop poll, the majority of Americans say they are not thatconcerned.

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According to the 2020 installment of Gallup's annual Economy and Personal Finance survey, conductedfrom April 1-14 of this year, non-retired Americans still believethat the income sources they have traditionally relied upon inprevious years to financially be able to retire, are still ontrack. The poll shows that as high as 88% of the responders to thesurvey are still comfortable relying on Social Security as aprimary source of retirement income, and 80% on their 401(k)payout. These numbers echo the poll's numbers from last year, prethe COVID-19 pandemic.

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Related: How employers, advisors, and the CARES Act combineto reassure retirement savers

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And it may not just be based all on positive thinking. Accordingto a Wealthramp survey that polled more that 100-fee-onlyfiduciary advisors, eight out of 10 advisors within the networkreported that more than 75% of their clients can still afford toretire on time despite the economic turmoil caused by the pandemic.And according to that financial advisor referral services company,if clients do need to adjust their timeframes, 63% of theiradvisors are recommending they extend it only by 1-2 years.

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Another indication that the COVID-19 economy isn't worryingAmerican's long-term financial outlook comes from non-retirees'estimate of the age at which they expect to retire, which currentlyis averaging at 66. The poll reports that this is similar to theaverage expected age of retirement recorded each year since2009.

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With all that said, the Gallop poll did indicate thatnon-retirees may be thinking a bit more about subsidizing thosetraditional retirement income streams with part-time work. Over 70% said that part-timework will be a major or minor source of retirement income, a riseof 6% year-over-year. And there was a similar increase from 68% to73% on the reliance on personal savings accounts or CDs.

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It is important to note that it remains to be seen how thispandemic will affect people financially down the road. Per thepoll, most Americans have not taken a significant hit to theirincome and have yet to personally experience the economic effectsof the COVID-19 crisis.

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Because we are in the early stages of this financial crisis, thepoll shows that Americans express far more concern about theirfuture finances than not meeting retirement needs. A majority saidtheir financial situation is getting worse rather than better.Also, 25% of workers now think they could lose their job in thenext year, up sharply from 8% a year ago. If that comes tofruition, the results of this poll may look very different. In themeantime, Americans' outlook for their retirement income remainsvery confident.

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Heather Nevitt

Heather D. Nevitt is the Editor-in-Chief of Corporate Counsel and Global Leaders in Law.