Good Financial Reads: Managing Your Money Amid COVID-19

2 min read
May 15, 2020

Managing Your Money Amid COVID-19

Financial Planning in an Uncertain World

by Riley Poppy, Ignite Financial Planning, LLC

In an uncertain world with layoffs, shaky markets, and a global pandemic, what role does financial planning play?

Financial planning is ultimately resource management. It’s figuring out how to leverage your financial resources in order to achieve your life's goals. Here's an important truth about financial planning: A great financial plan is dynamic and may need adjustment during times of uncertainty. Money moves in motion and now is a strategic time to review your plan.

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Will Social Security Survive This?

by Craig Joncas, Penobscot Financial Advisors

Social Security, in its current form, is in trouble. This should not be newsworthy to anyone who pays attention. When I first started in this industry during the last century, the Social Security Advisory Council warned that the Social Security Trust fund would run out of money in the 2030s, and that at that point, they would only be able to pay benefits from revenue (which at that point would only be about 75 percent of promised benefits.)

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Student Loan Payments in the COVID-19 Crisis

by Craig Joncas, Penobscot Financial Advisors

Student loans are a big part of the financial picture for a great many people. After the current pandemic started spreading in the US, it became clear that fighting the spread of this virus was going to come at a great economic cost, and one of the earliest steps taken on March 13 was the announcement that federal student loan payments could receive forbearance.  

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The Bullish Case for Stocks

by Scott Arnold, IMPACTfolio

The COVID-19 pandemic and oil price war between Russia and Saudi Arabia have delivered a combo knockout punch to the global stock market and traditional safe-haven investments.  The global equity markets are down year-to-date as follows (data provided by Kwanti, ending March 19, 2020):

US Large Cap Stocks (S&P 500) -25.09%
US Small Cap Stocks (Russell 2000) -36.35%
Foreign Developed Stocks (MSCI EAFE) -31.85%
Emerging Market Stocks (MSCI EM) -31.07%

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For more on financial considerations during the coronavirus pandemic, check out these articles from Good Financial Reads series:


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