poll-was your family affected (not) economically by Covid 19?

[elaine]

wondering from our cross section of TUG--who's been economically affected by shut downs. As many on TUG are retired--let's include immediate family, esp. adult kids.
Us in DC area: DH is retired, now working 5X/month. He was volunt. "off" for 2 months due to slow-down at veterinary practice. I telework during C19, same salary.
OTOH, DS35 is an accountant in hotel group. Salary cut 20% and might lost his job if company goes bankrupt. DD22 just found a job at $10/hr for when things open back up. DS19 had paid internship cancelled for summer 2020, can defer to 2021.
Brother (50 ) engineer at big manuf/electronics--job in jeopardy.

 

[slip]

Me, my son and Daughter have all not been affected at all. My wife is retired. We are all very lucky, my son and I are in Food distribution in Hawaii and Wisconsin and my daughter is in Healthcare in Denver.

 

[Rjbeach2003]

We have three offspring. All are still working, part at home, part at job( one day care connected to hospital) (DIL an RN in labor and delivery). Though drawing SS and State Retirement, I am still working, as a salesman from home. I sell primarily to tourist accounts, so business is nil. Trade shows cancelled. I don't need the income since my wife is also drawing same type of retirement benefits as I am. We are actually saving money, with no eating out and no vacations. Also we are getting 7 weeks on a tank of gas.

 

[TravelTime]

I have been economically affected by Covid. I have a small business and business has slowed down dramatically and we have lost clients and not been replacing them like before. My DH is working from home and he has not been affected. No one in my family has been affected yet. I think we are just at the beginning of this crisis and we will see more economic fall out over the next year.

 

[Karen G]

We're retired so we haven't been economically affected in the short term. Our investments have been affected in a big way, but we hope that will change in the longer term. We've saved money because there aren't any Las Vegas shows to attend! Our other activities have certainly been affected. We stay home most of the time, and we're doing our church services and small group gatherings online. Our three adult children have been affected. Our daughter was working from home before CV-19 for a web development company that is totally remote with folks around the world working on various projects. Her husband is a mortgage broker and has been doing a lot of his work at home. Having their two kids, ages 7 & 5, at home has made it more challenging but they seem to be managing things okay.

Our son works in the hotel industry in Las Vegas and has lost his job, but hopes to be rehired. He finally started receiving some unemployment benefits so that helped immensely. Our other daughter in the Seattle area works for a car/truck rental business & so far has been able to keep her job though bonuses have been eliminated.

So far everyone is healthy and we're thankful for that.

 

[Brett]

I think everyone was affected economically, either by job loss or investment decreases in 401k, brokerage accounts, etc
Fortunately for us it was just the investment "loss" - and inconveniences, and not seeing my mother in nursing home)

 

[TravelTime]

I think everyone was affected economically, either by job loss or investment decreases in 401k, brokerage accounts, etc
Fortunately for us it was just the investment "loss" - and inconveniences, and not seeing my mother in nursing home)

This is true. I was not even thinking about stock losses and other losses we have had from Covid. There are many others losses that I did not include.

 

[x3 skier]

Other than the paper losses in my retirement accounts, no affect.

Cheers

 

[slip]

I think everyone was affected economically, either by job loss or investment decreases in 401k, brokerage accounts, etc
Fortunately for us it was just the investment "loss" - and inconveniences, and not seeing my mother in nursing home)

I just checked my 401k last night and I am now higher than pre-Covid all time high. Strange and the market isn’t anywhere near the previous highs. But the funds so am in have adjusted.

 

[Luanne]

No changes in income for any of the family. Dh and I are retired, both dds are still working. IRA took a hit, but it seems to be rebounding.

 

[Panina]

Me and my other half are ok, just investments down so have to hold off on extras. My Bil is working at full salary at home. My sister works for a dentist part time who closed the office temporarily and she is actually making more because of the extra unemployment the federal government is giving. My niece has been temporarily been furloughed by the company and is ok because of the extra unemployment from the federal government. Her fiancé works from home at full salary. Another Bil works for UPS and is making overtime money.

 

[JohnPaul]

We own and live in a tri-plex. Feel fortunate that our tenants are able to work from home and don’t seem worried about their jobs.

Our savings have taken a hit but currently 8 to10 % not the 30 % it was initially.

We are retired so no direct job impact.

 

[DannyTS]

We seem to be doing well, depending on several circumstances we may be ahead when it is all over. However I am felling terrible for people in other countries that are devastated by this. In Mexico for example 10 million more people will cross the poverty line. We are trying to help relatives in other countries more than usually, especially since our expenses are way down and they need it more than ever.

 

[dsmrp]

DH's company is going to reduce staff by at least 10%, and offered voluntary layoff with up to 6 months severance. He decided to take it after emotionally accepting the idea that it's about 1+ years earlier than his original retirement plan.

I work for the largest (I think) healthcare organization in my metro area. They just announced yesterday plans for voluntary and involuntary furloughs. And some layoffs, altho' in my dept they stressed it would be mainly furloughs. I'll find out by early next week if I'll be laid off; hopefully not.
DS still has his work from home job; pays little more than minimum wage.
DD had her hours reduced at the small mental health clinic where she works; they have a small clientele. Lately tho' she says it's been getting busier from more (self)referrals. There's always a lack of mental health physicians, and COVID with SIP is just broadening the demand

 

[WinniWoman]

My husband and I are ok. A bit concerned about our investments as we are retired and living off our cash right now. Not collecting SS and no pension income. We are disappointed that this is how our retirement has started. We just moved finally and after all that work and stress, here we are like this- stuck. Plus still having issues with the builder- as recent as yesterday - and I am now in a major funk- so much so that I am depressed and wishing I was back in my other house. My husband says it is just a house, but to me I need it to be a home- it is not just a house. It is like part of me- my shell so to speak.

Then add in that we have not had our son to the house since all this started- inside I mean. I do not understand how other people have their adult kids and grandchildren over, yet are afraid to go to the grocery store. It's like they don't worry because they are family. I hear this a lot. Even my brother allowed his daughter from NYC to stay with them. One of my future neighbors says she always sees her kids and grandchildren- herd immunity- yet she distances from us when she comes up here. Weird.

Our son was laid off almost immediately from both jobs. His full time job as an account rep. for an embroidery thread company and his part time gig at a brewery.

He had one week of working from home and then they laid off most of the staff at his full time job.

He is 32 years old. Right now on weekends he is volunteering/helping out the owners at the restaurant/brewery take out, makes some food like pizzas and helps with the making or canning and selling of beer. Gives him something to do and he always loved working at the brewery anyway, though behind the bar, not like this.

Things are slow there mostly, especially when the weather is not good.

His employer is thankfully covering the health insurance until the end of June. They keep moving it forward each month, but still no word about returning to work. Initially they thought it would be June, but nothing is decided yet.

This company depends on other companies to order from them and if they are not open and needing their products then the company has no business.

He is thankfully getting unemployment and did get the stimulus money. We also gave him our stimulus money.

But it is not good for a young man to be home all day doing nothing. He went from working 6- 7 days per week to just a few hours at the brewery. He does cook and food shop more he says.

I feel for these young people with their lives on hold right now. I know our son wants to meet a woman and get married, etc. We were hoping maybe we could push him to buy a condo instead of paying the high rent for the crappy apartment he has. Help him move forward Now- forget it.

It's all such a shame.

 

[Sugarcubesea]

I feel so very blessed, as I have been thru the Great Depression in 2008 that pretty much wiped us out financially. I'm still working and feel so thankful to be working. We still have our middle son and daughter living with us.

• I'm still working from home and getting my full salary, my company furloughed 25 employees at our plant, but no one at HQ where I'm at.
• Son, graduated from college, late last year and it took awhile to find employment, he is in healthcare and has been actually given a raise while this has been going on. He is now making $18 an hour and saving like crazy.
• Daughter, suffers from ADD, anxiety, & Type 1 Diabetes. College did not work for her and she is also in health care and works with brain injury patients., she just got a raise to $14 an hour
• Hubby got furloughed after working 2 weeks from home. His company tells him they want him back but they have zero business right now and hope that the company will still be there when we come out of the pandemic.

The only thing we are spending money on is the essentials, food, gas, & household bills.

 

[TravelTime]

My husband and I are ok. A bit concerned about our investments as we are retired and living off our cash right now. Not collecting SS and no pension income. We are disappointed that this is how our retirement has started. We just moved finally and after all that work and stress, here we are like this- stuck. Plus still having issues with the builder- as recent as yesterday - and I am now in a major funk- so much so that I am depressed and wishing I was back in my other house. My husband says it is just a house, but to me I need it to be a home- it is not just a house. It is like part of me- my shell so to speak.

Then add in that we have not had our son to the house since all this started- inside I mean. I do not understand how other people have their adult kids and grandchildren over, yet are afraid to go to the grocery store. It's like they don't worry because they are family. I hear this a lot. Even my brother allowed his daughter from NYC to stay with them. One of my future neighbors says she always sees her kids and grandchildren- herd immunity- yet she distances from us when she comes up here. Weird.

Our son was laid off almost immediately from both jobs. His full time job as an account rep. for an embroidery thread company and his part time gig at a brewery.

He had one week of working from home and then they laid off most of the staff at his full time job.

He is 32 years old. Right now on weekends he is volunteering/helping out the owners at the restaurant/brewery take out, makes some food like pizzas and helps with the making or canning and selling of beer. Gives him something to do and he always loved working at the brewery anyway, though behind the bar, not like this.

Things are slow there mostly, especially when the weather is not good.

His employer is thankfully covering the health insurance until the end of June. They keep moving it forward each month, but still no word about returning to work. Initially they thought it would be June, but nothing is decided yet.

This company depends on other companies to order from them and if they are not open and needing their products then the company has no business.

He is thankfully getting unemployment and did get the stimulus money. We also gave him our stimulus money.

But it is not good for a young man to be home all day doing nothing. He went from working 6- 7 days per week to just a few hours at the brewery. He does cook and food shop more he says.

I feel for these young people with their lives on hold right now. I know our son wants to meet a woman and get married, etc. We were hoping maybe we could push him to buy a condo instead of paying the high rent for the crappy apartment he has. Help him move forward Now- forget it.

It's all such a shame.

Hi @WinniWoman I am sorry you are having such a hard time. I want to address your comment about people having family over. What some people are doing is they have created a bubble with intimate family members and/or close trusting friends and they all agree to follow certain rules about who they have contact with, social distancing, masks, etc. This is a concept being adopted in Canada, New Zealand and other countries. It does not eliminate risk 100% but it mitigates risk substantially while allowing people to have some social contacts. It may or may not work for you and your son But just thought I’d mention it.

 

[turkel]

DH and I are both first responders so no financial hit, other than my 401k. We both had to continue going to work.

DH DD#1 May loose her internship that starts in August, DD#2 worked for Disney was furloughed for 2 weeks then let go. DD#2 had just bought a house she has filed for unemployment.

My 2 kids 24 and 20 both work in the restaurant industry hours have been severely cut. DD is fine as she lives at my home and I pay all her essentials. DS says he has savings and can make it till July.

 

[nomoretslt]

Other than a hit on our 401ks and other investments, we’ve been okay. The hit was not as bad as I thought it would be, although I wouldn’t even look until last week. I figured we lost 2.75. %. We had moved most of our stuff to stable market funds. We haven’t touched those funds yet, as we are doing okay with my social security and husbands pension. And he will also apply to social security later this year. I took mine at 62 since I had not been working since I started caring for my mom, and just never went back after she passed. Our accountant told us at that time it wasn’t worth it, as it would put us in a higher tax bracket ( at the time husband was retired and collecting pension from his first career and was working full time at his second career). That was fine by me. In exchange, I did all the upkeep on the house and grounds, didn’t buy anything I didn’t need, planned all of our great Disney vacations and also did all the running back and forth to mother-in-law’s when she started to decline health wise.

We are fortunate that we have healthcare and prescription coverage through his first career.

Both our kids are still employed...law enforcement and teaching. Although virtual teaching is becoming more difficult....these kids really need classroom structure but they won’t be returning for the rest of this academic year.

That being said, I definitely need a spouse break!

Oh, and about families still visiting. Daughter still comes for dinner, but we hang out on the deck with masks on and eat at our large dining room table...she will sit at the other end, will load her own dishes into dishwasher, etc. A friend of hers was doing family gatherings with NO protection. Two weeks ago, the dad got it, he was sent home to recuperate but got worse...he’s now in a special pressurized room of some sort...and now the mom has it and their 3 adult kids. The little kids are fine. He is still in danger. He has asthma and so does his one daughter, my daughters friend. She’s doing okay so far.

 

[geekette]

Yeah, my freelance income opportunities went away for an unknown amount of time. Not a big deal, I am really good at cutting expenses. I could gain more income if I got into a pinch but intentionally laying low. I am putting off some home repairs, there's a limit to how long I want to do that, but, I'll wait it out.

I've had a few dividend cuts, Boeing suspended, but these aren't damaging to me. Small positions among dozens of companies, and I'm not living off of dividends. Further, other companies are raising their divs, so it all washes.

Compared to so many others, I am barely harmed. I definitely have nothing to whine about.

Good luck to all!

 

[WinniWoman]

Hi @WinniWoman I am sorry you are having such a hard time. I want to address your comment about people having family over. What some people are doing is they have created a bubble with intimate family members and/or close trusting friends and they all agree to follow certain rules about who they have contact with, social distancing, masks, etc. This is a concept being adopted in Canada, New Zealand and other countries. It does not eliminate risk 100% but it mitigates risk substantially while allowing people to have some social contacts. It may or may not work for you and your son But just thought I’d mention it.

Oh that I get. But these people are just enjoying each other’s company like they did pre virus. No masks or distance. Eating together in the homes and all that.

We have seen our son at a distance. We stay in the car, or he stays in his, etc. We also walk with a small group of people each day. Supposedly we distance but people start talking and forget. No masks.

But I am talking these people are together like nothing is going on. With babysitting grandchildren even.

 

[Panina]

Hi @WinniWoman I am sorry you are having such a hard time. I want to address your comment about people having family over. What some people are doing is they have created a bubble with intimate family members and/or close trusting friends and they all agree to follow certain rules about who they have contact with, social distancing, masks, etc. This is a concept being adopted in Canada, New Zealand and other countries. It does not eliminate risk 100% but it mitigates risk substantially while allowing people to have some social contacts. It may or may not work for you and your son But just thought I’d mention it.

Not easy to do. My step daughter is now at her moms house. Wants to spend half the time here. Unfortunately she already saw a few friends in person, hanging out, the last 2 weeks. Her mom works at a grocery and my step daughter normally works there in the summer. She decided to work now too. She doesn’t need the money, her dad asked her not too, explaining her mom has no choice but she does and it brings double the risk back home and her moms other half is very high risk. Seems her mom actually encourages it. So sadly that puts us in the position that she can’t stay here and that is her dads position. I didn’t have to get involved.

 

[turkel]

Other than a hit on our 401ks and other investments, we’ve been okay. The hit was not as bad as I thought it would be, although I wouldn’t even look until last week. I figured we lost 2.75. %. We had moved most of our stuff to stable market funds. We haven’t touched those funds yet, as we are doing okay with my social security and husbands pension. And he will also apply to social security later this year. I took mine at 62 since I had not been working since I started caring for my mom, and just never went back after she passed. Our accountant told us at that time it wasn’t worth it, as it would put us in a higher tax bracket ( at the time husband was retired and collecting pension from his first career and was working full time at his second career). That was fine by me. In exchange, I did all the upkeep on the house and grounds, didn’t buy anything I didn’t need, planned all of our great Disney vacations and also did all the running back and forth to mother-in-law’s when she started to decline health wise.

We are fortunate that we have healthcare and prescription coverage through his first career.

Both our kids are still employed...law enforcement and teaching. Although virtual teaching is becoming more difficult....these kids really need classroom structure but they won’t be returning for the rest of this academic year.

That being said, I definitely need a spouse break!

Oh, and about families still visiting. Daughter still comes for dinner, but we hang out on the deck with masks on and eat at our large dining room table...she will sit at the other end, will load her own dishes into dishwasher, etc. A friend of hers was doing family gatherings with NO protection. Two weeks ago, the dad got it, he was sent home to recuperate but got worse...he’s now in a special pressurized room of some sort...and now the mom has it and their 3 adult kids. The little kids are fine. He is still in danger. He has asthma and so does his one daughter, my daughters friend. She’s doing okay so far.

It’s a negative pressure room I am sure. Used for isolation. It’s not giving him a treatment of any kind.

 

[TravelTime]

Not easy to do. My step daughter is now at her moms house. Wants to spend half the time here. Unfortunately she already saw a few friends in person, hanging out, the last 2 weeks. Her mom works at a grocery and my step daughter normally works there in the summer. She decided to work now too. She doesn’t need the money, her dad asked her not too, explaining her mom has no choice but she does and it brings double the risk back home and her moms other half is very high risk. Seems her mom actually encourages it. So sadly that puts us in the position that she can’t stay here and that is her dads position. I didn’t have to get involved.

I am sure you know this. The family and friends bubble concept only works if everyone in the bubble agrees to the same rules. But even when they do, there are still risks. Someone has to go shopping, home deliveries still occur, people may still need to go to work if there is an essential worker in the household, doctor visits may still need to happen. Bubble cheating may occur but if trust exists within the bubble this is something bubble members should discuss. The bubble is not zero risk. New Zealand and Australia are thinking of starting a travel bubble. Many other countries are considering travel bubbles. So the concept extends beyond families and friends.

 

[dioxide45]

Is there supposed to be a Poll in this thread? I don't see one at the top of the page.