MONTGOMERY – As of June 2020, the national unemployment rate was 11.1 percent. For many who were laid off, furloughed, or experienced a reduction in hours due to the pandemic’s harsh effects on businesses, this experience has raised questions regarding job hunting, unemployment insurance, healthcare, and retirement plans. Walden Investment Services**, located at Walden Savings Bank, offers guidance to help those reeling from the devastating financial impact caused by COVID-19.
While COVID-19 has caused a global health crisis, it has also caused severe economic fallout. The financial impact has been felt far and wide, leading individuals of all ages to be concerned about financial security. The team of financial professionals at Walden Investment Services offers personalized financial planning advice, including retirement, insurance, education savings, investment options, business advisory, and estate planning strategies.
Those who lost a job and subsequent income may be wondering what to do with employer-held retirement accounts. Typically, people leaving an employer have several options regarding retirement plans, but it is not an all-or-nothing decision. Depending on the situation, it may be possible to engage in a combination of options.
High-school and college students who depend on work to afford education-related expenses may also be worried about affording future costs or the lack of job prospects due to the cancellation of internships and hiring freezes. While these are short-term concerns for families with college-aged students, many others may be worried about saving for their young children’s future educational expenses. College plans, or tax-advantaged investment accounts for higher education, are just a few of the strategies available through Walden Investment Services.
In addition to COVID-19, interest rates, inflation, and geopolitical risks have led many individuals who have investment accounts to fear a volatile financial market. However, the overwhelming uncertainty that many experienced in the early weeks and months of the pandemic has greatly diminished, and the stock market has stabilized. In fact, analysts predict that the market will continue to rebound over the coming months. Walden Investment Services’ team of financial professionals uses principles and strategies to develop an investment portfolio that reflects the individuals’ risk tolerance, time horizon, and financial goals.
The team at Walden Investment Services consistently monitors for fluctuations in the market, and watches for the evolution of long-term trends that may impact a client’s portfolio and financial goals. Together, the team of professionals at Walden Investment Services and its clients work to develop, implement, and monitor a tailored strategy that can alleviate short-term challenges and achieve long-term financial goals.
For more information or to schedule a complimentary appointment with a Walden Investment Services financial advisor, call us at (845)457-8250 or visit waldeninvestmentservices.com.