Laid Off? Many Boomers Are Headed Into Forced Retirement

Many baby boomers who are losing their jobs due to the coronavirus' economic fallout are coming to the realization that this constitutes the end of their working career, reports Forbes . For those suddenly retired, columnist Robin Ryan writes that there are a number of coping strategies. Boomers are recommended to grieve over the loss until they accept it, asking friends or spouses to support them. Boomers also should consult with their financial planner, who may advise that they establish a budget and reduce expenses as they weather the economic storm. Financial counseling will give boomers the knowledge they need to manage their lives once the pandemic is over. Boomers also should formulate two plans — a short-term plan and a long-term one — on how to live during and after the crisis.