The good thing about being retired is that our pension income is not affected. My wife also has an independent contractor gig and her income from that has been cut in half, but we’re still keeping our heads above water. The downside is we’re part of that vulnerable population. So all of our grocery shopping has been done via curbside pickup for the last month.
Maybe?
Although if States start filling bankruptcy 30 days from now. That could trigger a domino affect that could endanger your pension.
I’m retired too, but I’ve lost about $10K in income and my capital is down $400K. I expect it to come back within a year.
“The good thing about being retired is that our pension income is not affected.”
Read about what happened to the pensions of Russians after the Soviet Union collapsed. Pensions are only as solid as the economy that supports them. You might not believe it but your pension is entirely dependent upon America doing well and your sense of complacency may not be justified.
If this lockdown continues too long the financial repercussions could lead to many pensions getting cut.