Stick to Your Financial Plan Through the Pandemic
Neil Smith - Apr 21, 2021
People who work with a Financial Planner have a written financial plan, savings and are better prepared financially and mentally for emergencies like a pandemic.
On the one-year anniversary of the COVID-19 pandemic FP Canada took a new survey of the pulse of Canadians called the “Tale of Two Pandemics Survey”. It shows the past 12 months have been difficult both personally and economically.
People have worked from home, struggled through lock downs, juggled personal responsibilities and some people were pushed out of the work force. That’s had a very significant impact on personal finances and mental health.
The survey found 2/5 or 39% of those surveyed working at the start of the crisis lost their jobs, took a pay cut or had their hours slashed – with 1/6 Canadians and nearly 1/5 women forced out of the labor force entirely. You can click on this link to see the results of the survey, Tale of Two Pandemics Survey 2021 (fpcanada.ca)
Those working with a Financial Planner were more than twice as likely to have at least a years’ worth of expenses to fall back on but that was only 30% of Canadians. The rest of Canadians need to start working with a Financial Advisor so a plan can be built, followed, reviewed and adjusted as you go through your various stages of life. That way you are ready for the next pandemic or extreme event when it happens.
Go to my web site www.neilssmith.com today and contact me to book your free initial interview so you can join the 30% of Canadians who are working with a Financial Planner and the benefits that come from having a written financial plan and getting professional advice.
I am a Certified Financial Planner. Everyone needs a financial plan regardless of your net worth. I help individuals and families reduce their number one stressor, financial worry by working together to build their goals based financial plan to protect and grow their net worth for themselves, their family and their legacy.
Information was sourced from the FP Canada web site WWW.FPcanada.ca 2021.