What the Coronavirus Reminds Us: It’s Never a Bad Time to Plan
Submitted by Brookhaven Wealth Management on February 7th, 2020
News of the Coronavirus epidemic in China is everywhere right now. And it really has us thinking about the benefits of planning ahead.
In China, many companies have had to deal with a quarantine of their employees, and schools have been closed. Hopefully we won’t find ourselves in a similar situation in the U.S. But then again, you never know. It’s hard to prepare for what you can’t predict.
As employees, business owners, and heads of your households, how might you plan ahead?
What if the company you own/manage/work for had to deal with a quarantine of its employees at home, or if the schools were closed and you as a parent had to stay at home for the next month with your kids?
It might make sense to use this opportunity if you’re a business owner/manager to discuss how you might enable teleworking if employees weren’t able to come to work. Could they still do their jobs from home? Are there plans for this?
If you’re a parent, which parent would stay home with your children? Could you still work from home? Would your employer allow you to? Having these conversations now as a family, a business, with your employer/employee/spouse/children makes sense. You won’t want to have to react in a panic heaven forbid this or some other emergency pops up in the near term or distant future.
Planning and risk management in the financial realm are at the core of the work we do with our clients. We thought this was a good opportunity to remind everyone that it’s never a bad time to plan.
If you'd like to learn about our advice and planning tools don't hesitate to contact our office by phone or schedule a time to talk via our online calendar below.
