Joshua, a 60-year-old political consultant, experienced financial instability after his employer retired at the end of his sixth term during the COVID-19 pandemic. Despite maintaining an appearance of wealth through high-end cars, a home in an exclusive Washington, D.C. suburb, and private college tuition for his children, he and his spouse were forced to liquidate retirement accounts after six months of unemployment. The couple faced difficulty finding new work due to the pandemic and employer preferences for younger, less-costly employees, increasing the risk of default on their mortgage and car loans.

Authors

• Person: Not available Organization: Colorado State University’s College of Business
  Financial vulnerability could affect more consumers than previously ...

Sources

• Financial vulnerability could affect more consumers than previously ... biz.source.colostate.edu Colorado State University’s College of Business via serper

Referenced by nodes (2)

• COVID-19 pandemic event
• Washington D.C. location