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Half of young Americans describe themselves as financially independent, although, over 60% are concerned they will lose their job due to the COVID-19 pandemic, according to a survey released by TD Ameritrade in May.
About 75% of respondents are "anxious" about how the coronavirus will impact their finances, reports the survey, while six in 10 say the pandemic has "derailed their journey to financial independence." Some respondents said they have postponed starting a family, or have moved back home with their parents due to financial stress created by the pandemic.
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