3. Older workers whose hours are cut may claim Social Security because of it

If you’re one of the lucky few who still has a job, albeit with reduced hours, you might be (rightfully) worried about the size of your paycheck.

If you’re unsure how you’re going to make ends meet but you’re at least 62 years old, you should know that you’re eligible to receive benefits, regardless of your employment status.

As mentioned earlier, this means you’ll be getting a lifetime reduction though if you have no other ways of staying afloat, this edition should take you through the hardest of times if your wages have been cut. Once you’re back to working full time you can begin working out a plan that should set you back on track.

Furthermore, some benefits might be withheld if your earnings exceed a certain threshold, which is why you should make sure your retirement won’t suffer further if you chose this approach after the pandemic passes.