Posted by: jr45
Lost income tsunami - 03/24/20 09:13 AM
An out of state friend of mine was just laid off due to force closer of non-essential stores. This made me think with tens of millions being laid off as we speak and estimates as high as 30% unemployment (higher than the 1930s depression) in the near future, I question how long it would take us to recover. Granted, once the forced business closure ends, many will be back at work however; there will be so many jobs and business that will be lost forever. In addition, most are living pay check to pay check and unable to pay rent and may find themselves homeless.
The markets lost a third or more of it value causing many retirees/soon to be retirees to panic or hold off on retirement. The 1.6 Trillion on dollar relief package working its way through the senate offer $1200 per person? Not sure how long that would cover the living expenses for most folks. How long do you think it will be for us to fully recover from this?
The markets lost a third or more of it value causing many retirees/soon to be retirees to panic or hold off on retirement. The 1.6 Trillion on dollar relief package working its way through the senate offer $1200 per person? Not sure how long that would cover the living expenses for most folks. How long do you think it will be for us to fully recover from this?