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Has the Pandemic Shifted Your Priorities? Time to Adjust Your Financial Plan Too

Posted on: June 30, 2021

Has the Pandemic Shifted Your Priorities? Time to Adjust Your Financial Plan Too

There is no question that the challenging events of the last year have had people worldwide reconsidering their priorities. After months of quarantine and isolation, we’ve all had ample time to contemplate the parts of our old life we took for granted and the things we want to do when the pandemic is over. But now that the vaccine rollout is picking up, it’s time to put those months of contemplation to good use. If the pandemic has shifted your personal priorities, it’s important to make sure your financial plan reflects that. Here’s how:
If you questioned your career during the pandemic … ramp up your retirement planning.
Since last fall, there has been a surge of early retirements across the country for various pandemic-related reasons. Many Canadians were forced into early retirement because of lost work and a poor job market. For others, the pandemic showed them the possibility of more time at home with the family, pushing them to reconsider their work-life balance. Whether it’s a shift in priorities or a fiscal concern to save early, now is the perfect time to look at your retirement plan and beef up your annual contributions.
If you wanted to give back more during the pandemic … increase your charitable giving.
With so many people and businesses struggling through the pandemic, your philanthropic efforts could have a significant impact on those who need it most. Whether you want to set up a charitable gift annuity or create an endowment or foundation, at Bongard Wealth Advisory, we can help you make meaningful contributions to causes you care about.
If you are worried about your family being taken care of during the pandemic … consider estate and legacy planning.
Whether the pandemic kept you distanced from your family or brought you closer together, it has made us all think more about the health and wellbeing of our loved ones. Although estate and legacy planning can be an uncomfortable topic to contemplate, the earlier you start planning, the better prepared you can be to take care of your family after you’re gone. Our team is prepared to help you every step of the way.
If there’s a silver lining to all the hardship that the pandemic has brought, it’s that it has shown us what really matters. As we move forward, instead of going back to business as usual, we have a unique opportunity to reprioritize our lives and put ourselves and our loved ones first. If you want to learn more about bettering your personal values with your financial plan, please don’t hesitate to reach out for a call with our team.