In recent weeks, as it has become clear just how devastating the financial impacts of the Covid-19-related shutdowns and shelter-in-place orders have been, and likely will continue to be for some time, we have been trying to figure out how we might best be positioned to help some of those who are being hit the hardest. And with the numbers out this week, which indicate that as many as one in four American workers have filed for unemployment benefits, we felt the time had come to do something, anything, to try to help some of those folks in our community.
Many people are now facing economic hardship, and struggling to put food on the table, pay their basic expenses or keep a roof over their family’s heads, while those on the frontlines such as healthcare workers and first responders are hard pressed to find the time to focus on their finances at the moment. In light of that economic reality, we will be offering pro-bono financial advice to anyone who has been negatively impacted by the current situation and is referred to us by any one of our clients, family or friends.
While most people facing economic hardship are not in need of the type of comprehensive financial planning that we engage in for most of our clients, we feel that having access to professional help or advice could benefit many folks in navigating this difficult time, and hopefully help to relieve at least a small amount of stress related to the financial realities so many are now facing. If you know someone who has no other access to professional help and is in need of advice – whether it be questions about how a short-term job loss might affect long-term plans, how the tax consequences of taking an early distribution from an IRA or 401(K) plan have changed, how some of the relief programs such as the PPP (paycheck protection program) work, or anything else, please feel free to give them our contact information, and we will do everything we can to try to help, free of charge.
We talk a lot about being part of this community, and we take that responsibility seriously. And being part of a community, like being part of a family, isn’t just about being there for them in the good times, but also when things get hard. As such, we hope that, in this small way, we can do our part to help some of those in need get through this difficult time and come out on the other side when the good times return.