WASHINGTON CROSSING, Penn. – Over 3 million people in the U.S. have recently filed unemployment claims as a result of the severe economic impact of the coronavirus.
Some of those suddenly jobless have limited financial resources besides unemployment benefits. Others are fortunate to have emergency savings or investment vehicles they can draw from such as a 401(k). Then there are those who are still working, but feeling the effects of business slowing down.
“Overall, the pandemic has put many people in a weakened financial condition that they didn’t expect,” Steve Kruman, a financial planner and investment adviser at Bryce Wealth Management, said. “And there are some lessons in there that could better protect them and their loved ones going forward.”
Kruman offered tips