Coronavirus Impact on your Financial Situaton? - Page 2
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  1. #26
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    Quote Originally Posted by Peter P. View Post
    Many of us will not be impacted financially by the pandemic, including myself.

    So if the federal government comes through with relief checks to all Americans, is it wrong to spend it frivolously?
    Shouldn't the money go WHERE IT'S NEEDED vs. just a giveaway? Should there be a better determination of who's in need of assistance?
    Yeah, as much as I want a pair of new wheels of Apple gizmo, I feel like throwing it at large corporations is not right from a moral perspective. I'd much rather cut some of that check to my daycare, or a local restaurant.
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    LOLOLOL

  2. #27
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    Quote Originally Posted by Devastazione View Post
    I own a coastside camping/resort here in Italy and season was supposed to start in a month. If things will turn bad we won't open at all,if things should veer towards a more positive outlook we may be able to open by late June,ready to face a very challenging and short season and operating without some of our facilities. The thing is 90% of our clientele are foreigner Europeans, while here in italy we're sadly getting used to this pile of terror and deaths, the worst is yet to come for France, Germany, UK etc etc.
    If we won't open we will plunge into high exposure and hold our breaths until 2021,but by then we may become easy targets for aquisitions at a fraction of our real value. We are a family owned business since 1983 and that would probably kill my dad . It's bad and it looks bad.
    My wife is front desk manager in another resort in the area,her daily job from home right now is dealing with guests cancelling their reservations for May,every single day she has tons of them. Our area is renowed among world's top billionaires and even that ancillary sector would take a hit. Just to give you an idea about our area,20 years ago during winter we would sneak into Bill Gates's private park to smoke joints,winter is a true paradise of solitude here,we love it.
    Reality is the economic aftermath now looks way scarier than the virus itself.

    My prayers goes to those who have been affected. I live on a island wich is now shut down,but the rest of my relatives all live on mainland and each and everyone of them know somebody that lost somebody.
    Your username is (sadly) ironic. And I donít mean that to be snarky. Hang in there!

  3. #28
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    Quote Originally Posted by rideit View Post
    Your username is (sadly) ironic. And I donít mean that to be snarky. Hang in there!
    I wonder how Lake Como Cycling is fairing in these times. Pietro is a great guy.
    "That pretty much sums it up. I'm 43 and my max is ~178-180. If that HR chart was mine or Froome's, we'd be on the verge of death. But for you it probably looks like a normal workout." -TLG

    LOLOLOL

  4. #29
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    As a home improvement contractor I have no idea what the long term outlook is going to be for me. As of right now I have no work and I donít know when I will. I really felt a crash was coming and got rid of my house last year and moved back closer to my parents in the middle of PA. Now now Iím just waiting to see what happens next and just how bad this is going to be.

  5. #30
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    Quote Originally Posted by Peter P. View Post
    Many of us will not be impacted financially by the pandemic,
    That's funny.
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  6. #31
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    Quote Originally Posted by Peter P. View Post
    Many of us will not be impacted financially by the pandemic, including myself.
    Well la di Da

    Have a nice quarantine bro

  7. #32
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    Quote Originally Posted by 10ae1203 View Post
    Well la di Da

    Have a nice quarantine bro
    I didn't mean my comment in a snarky or "in your face" manner.

    It's just I don't expect MY JOB to be affected financially by it, therefore, why should I receive free money? I feel the money could be better directed by the government to people who it would benefit more as their finances suffer from the crisis.

    There are many such jobs-firefighters, policemen, local government workers, and more I'm sure.

  8. #33
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    Quote Originally Posted by Peter P. View Post
    Many of us will not be impacted financially by the pandemic, including myself.

    So if the federal government comes through with relief checks to all Americans, is it wrong to spend it frivolously?

    Shouldn't the money go WHERE IT'S NEEDED vs. just a giveaway? Should there be a better determination of who's in need of assistance?
    In this case I agree with you, especially after your follow up post. The people who are not losing hours at work do not need any assistance. The money would be better off put into unemployment insurance and a special fund to cover the medical costs of those affected.
    Life is short... enjoy the ride.

  9. #34
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    Quote Originally Posted by bradkay View Post
    The people who are not losing hours at work do not need any assistance.
    I expect a lot of cutbacks for hourly workers that have not yet happened. I can also foresee salaried employees being cut to 80% or less as work needs go down, and to try to get some businesses that are on the edge to avoid failing.

    IOW, many who don't have a cut to income now may see that in a week or two.

    Sending everyone money is FAST to do. Means testing it takes more time. And a fast $1000 will calm a lot of worries.

    It is not the best way to get the most stimulus bang for the buck, no doubt. But there are still reasons to do it NOW because a month from now starting the process will do far less good overall.

    All that said, I think local Meals on Wheels could use some donations, as could many other services in your local community that will step in to help those in need. If you don't need it, put it to good use for those near you who do.
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  10. #35
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    Quote Originally Posted by QuiQuaeQuod View Post
    I expect a lot of cutbacks for hourly workers that have not yet happened. I can also foresee salaried employees being cut to 80% or less as work needs go down, and to try to get some businesses that are on the edge to avoid failing.

    IOW, many who don't have a cut to income now may see that in a week or two.

    Sending everyone money is FAST to do. Means testing it takes more time. And a fast $1000 will calm a lot of worries.

    It is not the best way to get the most stimulus bang for the buck, no doubt. But there are still reasons to do it NOW because a month from now starting the process will do far less good overall.

    All that said, I think local Meals on Wheels could use some donations, as could many other services in your local community that will step in to help those in need. If you don't need it, put it to good use for those near you who do.

    Depends on the industry.

    March Madness, regular season sports, and NBA for example. BBall arenas "independent contract" a small army of on-call hourly cleaning staff to clean up the disaster area mess left by fans after every game through all hours of the night. All those people now no longer even get their 0-10 hours/week from that gig. It similarly takes a crew of 50 bodies to put-down/put-away a basketball floor to go from BBall to a band-concert. Those guys, also, are also on-call-hourly. Same drop in the bucket.

    The entire entertainment industry is at a stand still. When Colbert, Oliver, etc all cancelled their on-set TV work this week, NVM broadway closing down completely...Things repeated everywhere else in the world.....it sent a ton of people home, not to get an income. Local TV news isn't as effected--because they're bare-bones minimally staffed due to operating budgets.
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  11. #36
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    I work for an engineering firm and I have transitioned to working from home, we have lots of work so I don't see my job being affected. My wife still has to go to the office each day (law firm), I think they have a good backlog of work but if this goes on for too many months I guess their may be some chance of her running out of work.

    My college age daughter has moved home since the college has closed, she is getting a lot of hours at her part time job at a nursing home, that makes me a little nervous. My daughter in HS is just being a bum at home, waiting to see if they are going to do some sort of online schooling.

    My retirement accounts have lost about 100k, but I'm about 10 years out from retirement so there is plenty of time to recover.

    It will be interesting to see how the "government checks" get handed out.
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  12. #37
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    Quote Originally Posted by Peter P. View Post
    Many of us will not be impacted financially by the pandemic, including myself.

    So if the federal government comes through with relief checks to all Americans, is it wrong to spend it frivolously?

    Shouldn't the money go WHERE IT'S NEEDED vs. just a giveaway? Should there be a better determination of who's in need of assistance?
    That's a good point, people obviously need it to varying degrees and some not at all. The idea of donating it to a needy organization has merit for sure if you don't need it. On the other hand, its intended to stimulate the economy so spending it frivolously will do that.

    I do think that everyone in the world will be impacted by this financially, some directly through loss of work, other's through less directly through lost investment growth and increased taxes at some point to pay for the stimulus.

    It's definitely going to impact everyone's quality of life.
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  13. #38
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    had to shutter my biz and lay everyone off. that means a multiple tens-of-thousands drop in our income per month, well into negative income. Savings portfolio obviously down by 6 figures. I am in Canada so our dollars buy less on the global market now.
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  14. #39
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    Quote Originally Posted by Peter P. View Post
    I didn't mean my comment in a snarky or "in your face" manner.

    It's just I don't expect MY JOB to be affected financially by it, therefore, why should I receive free money? I feel the money could be better directed by the government to people who it would benefit more as their finances suffer from the crisis.

    There are many such jobs-firefighters, policemen, local government workers, and more I'm sure.

    Maybe. Maybe not. There will always be police and fire and other government jobs but those are pretty far from being immune to staff reduction, decreased pay and decreased benefits even in the best of times never mind this time when tax revenue must be way down and need for it elsewhere way up.

  15. #40
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    Have not been affected YET but boss is worried that Austin may go the way of California and lock down everybody. Told us to take our computers home over the weekend just in case so we can work from home next week if it comes to that.

  16. #41
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    That really sux, I don't know what to say. My wife runs a small business with 5 employees, she is really nervous about being out of work for a couple of weeks much less shutting down. Just a month ago everything seemed so rosy...



    Quote Originally Posted by BCSaltchucker View Post
    had to shutter my biz and lay everyone off. that means a multiple tens-of-thousands drop in our income per month, well into negative income. Savings portfolio obviously down by 6 figures. I am in Canada so our dollars buy less on the global market now.
    "I felt bad because I couldn't wheelie; until I met a man with no bicycle"

  17. #42
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    Quote Originally Posted by davesupra View Post
    I work for an engineering firm and I have transitioned to working from home, we have lots of work so I don't see my job being affected. My wife still has to go to the office each day (law firm), I think they have a good backlog of work but if this goes on for too many months I guess their may be some chance of her running out of work.

    My college age daughter has moved home since the college has closed, she is getting a lot of hours at her part time job at a nursing home, that makes me a little nervous. My daughter in HS is just being a bum at home, waiting to see if they are going to do some sort of online schooling.

    My retirement accounts have lost about 100k, but I'm about 10 years out from retirement so there is plenty of time to recover.

    It will be interesting to see how the "government checks" get handed out.
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  18. #43
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    Spinoza's intelligence, who speaks with so much assurance

    Quote Originally Posted by rideit View Post
    There will be IQ tests to determine eligibility. Trump supporters, by default, do not qualify.
    To speak about intelligence is absolutely unintelligible


    Long story.

  19. #44
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    The more the merrier.

  20. #45
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    Not on sbject.

    Americans, from these united states of america are amazing.

    Last edited by EverydayRide; 03-21-2020 at 04:09 PM.

  21. #46
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    Quote Originally Posted by EverydayRide View Post

    The more the merrier.
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    Quote Originally Posted by rideit View Post
    I would pet her bobcats.
    My wife would say know moore.

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  24. #49
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    I'm retired, so it has no financial impact on me at all....The only impact it has on me, is that I'm almost positive that my three week cruise, at the end of next month, will be cancelled.
    If your opinion differs from mine, ..........Too bad.
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  25. #50
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    Quote Originally Posted by MR_GRUMPY View Post
    I'm retired, so it has no financial impact on me at all....The only impact it has on me, is that I'm almost positive that my three week cruise, at the end of next month, will be cancelled.
    If the cruise weren't cancelled would you go? Since all of this, I dont think I will ever take a cruise

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