3 Ways Your Social Security Checks Could Be Reduced by COVID-19

Tens of millions of Americans have been laid off or furloughed, investors have watched their portfolios take a tumble, and older workers have been forced to adjust their retirement plans. Many retirees head into their senior years expecting Social Security to help them make ends meet, but there are a few ways COVID-19 could reduce your future monthly checks. The Social Security Administration (SSA) is currently experiencing a cash shortage because the money that's coming in from payroll taxes isn't enough to cover the amount paid out in benefits.