Covid-19 Derails Retirement Plans of Older Small-Business Owners

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Covid-19 Derails Retirement Plans of Older Small-Business Owners
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“I can’t throw everything I worked for under the bridge.” Small-business owners whose nest eggs have been hit by closures face financial and emotional crossroads.

Dennis Dreibelbis bought the G-Lodge Restaurant in eastern Pennsylvania in 1984, hoping it would eventually support him in his retirement.

In mid-March, when Pennsylvania, like much of the rest of the country, told residents to stay home and ordered non-essential businesses to shut down, Mr. Dreibelbis, now 69 years old, closed his doors. He still comes to his diner in Phoenixville nearly every day, along with his terrier, Cagney, to sort through bills and make sure his kitchen equipment is working. He arrived one day to find...

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