Financial Havoc Caused by the Coronavirus
It should come as no surprise that the coronavirus pandemic has left many individuals in dire financial straits. Many Americans who have lost their jobs, or other sources of income, have very little in savings as a backup.
A study was done by Simplywise.com, a technology company that provides free services to assist people in making sound Social Security decisions. They discovered that about 38% of individuals who lost their job, or had a drop in income due to Covid-19, had total savings that would barely last for a month.