A business financial advisor can help you avoid costly mistakes and maximize your business returns.
We send our best wishes to you, your family, and friends during these difficult times. We are all in this struggle together and we have to support one another. It’s important to be vigilant when it comes to practicing good health habits, social distancing, and self-quarantine. By implementing these measures, the sooner we will be able to adjust to our new normal.
The recession is here. The questions are for how long and how drastic. It’s still hard to tell at this point. The Coronavirus is something we have never seen before.
For instance, initial claims for unemployment insurance surged in the week before last to 3,307,000. To put that into perspective, the week before claims were 282,000. The historic high (the DOL started tracking the data in 1967) was 695,000 in October of 1982. Even at the depth of the Great Recession the highest number of weekly claims was just 665,000. On the morning of April 2, the weekly number skyrocketed to 6,648,000. Unfortunately, we expect the number to rise even more in the next few weeks as the self-quarantine is expanded and businesses lay off more workers.
The good news is that the government is doing everything it can to help both business and workers during this time.
Congress recently passed the CARES Act which was signed into law on March 27.
The 2 trillion-dollar coronavirus economic stimulus bill is designed to offer relief for businesses, families, and individuals who have been negatively impacted by COVID-19. Read more about the CARES Act here.
Are you on track for retirement?
Making sure you will be ready for retirement can be overwhelming. Funding your retirement accounts over the years is just one part of your journey to the retirement of your dreams. A Certified Financial PlannerTM can help you navigate the complexities of financial planning. Talk to a Financial Planner>
Dream. Plan. Do.
Platt Wealth Management offers financial plans to answer your important financial questions. Where are you? Where do you want to be? How can you get there? Our four-step financial planning process is designed to be a road map to get you where you want to go while providing flexibility to adapt to changes along the route. We offer stand alone plans or full wealth management plans that include our investment management services. Give us a call today to set up a complimentary review. 619-255-9554.