The Upside of the COVID-19 Pandemic

31
Aug

The Upside of the COVID-19 Pandemic

The COVID-19 pandemic has pulled the rug out from under just about everyone on every continent. 

This pandemic has understandably had a dramatic effect on the everyday lives of most people across the globe. With stay-at-home orders to work remote and children distance-learning this past school year and possibly this fall, many cannot wait for 2020 to be over. 

However, there are several ways these dramatic day-to-day life changes are benefitting us: 

More Family Time

With businesses, stores, and public places still closed in many areas of the country, and families are spending more quality time together. Additionally, employers provide employees with more flexibility enabling parents to be more present and involved in their children’s lives. This flexibility is a welcome change for workers who juggle a career and family amongst their other responsibilities. 

Saving Money

As a result of more people working from home, less spending on commuting, vacationing, and eating out – has turned into significant monthly savings for some. This positive change means more money in your pocket for emergencies, home improvement, or investing for future retirement savings. 

Rest and Relaxation

While traveling outside of the country may be on hold for the near future, many people enjoy their vacation home or cabin to escape their regular routines. For those who can work remotely from their second residence, this equates to more use of the property than usual.

Road Trips

2020 is the year of the road trip as more people vacation close to home, helping boost their local economy while keeping them less exposed to COVID-19. With safety in mind, RVing and camping have taken the top spot for many Americans’ summer vacations.

Have your financial goals changed?

If your financial situation has changed for better or worse during the COVID-19 pandemic, I can help you plan for your short- and long-term financial goals. 

SWG 1253815-0720e

In conclusion at Waterhouse Financial, we truly enjoy helping people make smart financial decisions. In addition, we look forward to learning more about you, your priorities, and your goals.  Contact us today to discuss your retirement strategy.