The COVID-19 pandemic has made a mess out of many Iowans’ retirement plans. A study by an investment advising firm shows the average Iowans’ retirement savings balance dropped from 423-thousand dollars in January to 367-thousand at the end of March. That’s a 13-percent drop over three months. Michelle Brownstein, vice president of Private Client Services at Personal Capital says the firm’s report shows Iowa ranks 12th out of the 50 states for the highest retirement savings average. As of June 30th, the average retirement balance for Iowans was a little over 415-thousand dollars, according to the report. Still, Brownstein says it’s more important to compare how your -own- account looks versus how Iowa ranks against other states.

The Personal Capital survey found 89-percent of respondents said they’re worried about the financial impact COVID-19 is having on their retirement.