COVID-19 and Coronavirus – financial issues and impact

I got an email from Allworth Financial this morning that linked to a great new resource page on their website. On their website they have a great page dedicated to the financial implications of COVID-19. I am calling this the financial issues and impact caused by COVID-19 and Coronavirus. I encourage you to check out their webpage to learn more. Here’s a link.

Here’s a sample from their website in response to the query Will the economy recover from the pandemic?

Almost certainly, but a precise timeline for the recovery is not yet known. It is our complete, fervent and unshakable belief that both the U.S. and the global economies will fully recover from the economic impact of the coronavirus pandemic. This is based on our experience dealing with the last four economic downturns, our confidence in the overall economic system (especially here in the United States), and our intimate knowledge of the motivations and hopes and dreams of the people we serve. All of this, along with our underlying general sense of optimism, combines to infuse us with the confidence that our economy will recover from the impact of our response to the coronavirus pandemic, and emerge stronger than ever before. Everyone at Allworth Financial believes this in the most uncertain terms.

As stated earlier, the duration of what is transpiring – be it a prolonged recession with drastically higher unemployment, the containment or spread of the virus, the introduction of cures, treatments and vaccines, and how long it takes for us to implement and respond (and whether we respond too quickly or two slowly) – all will impact the speed at which our economy recovers. And while it might not be easy or immediate, we are all supremely confident in our belief that our economy will fully and completely rebound.

I should add that Allworth Financial (formerly Hanson McClain) is a top notch financial planning firm with offices throughout the United States.

Stay safe and healthy my friends.

-John Palley


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