IRVINE, CA – MARCH 30: Credit cards are cut in half during a shreading ceremony at Christ Our … [+]
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If every older household had little or no debt and a large savings account to cushion the shock of a sudden furloughor worse, job loss and involuntary retirementwe might not expect lifelong financial disappointment due to the pandemic. But millions of older households entered the Covid-19 recession with a pre-existing condition ofwhat economists call financial fragility.
Our research at the Schwartz Center for Economic Policy Analysis at The New School shows that financial fragility comes …
Read the full article at: https://www.forbes.com/sites/teresaghilarducci/2020/06/26/older-workers-turn-to-debt-and-false-hope-in-covid-19-recession/
