Senior citizens are increasingly finding themselves with new responsibilities and a lot of hard choices because of the coronavirus pandemic.
Those who have savings have to decide if they should dip into their accounts early, potentially eating away at funds they’d earmarked for later. Others are having to calculate how starting to receive their Social Security payments earlier than planned could reduce their checks in the future.
“Who can even think about it — your retirement? If you’re struggling to put food on the table today, you’re going to do whatever you have to do that’s legal to be able to maintain yourself and your family,” says Beth Finkel with AARP New York.
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