Tim Davis
, Certified Financial Fiduciary, Retirement Income Certified Professional
Davis Capital Corp
Are You And Your Money Prepared For The Next Pandemic Or Recession?
"The COVID-19 pandemic and ensuing economic downturn took pretty much everyone by surprise. Are you ready for the next crisis?" Tim Davis
Most Americans were caught off-guard both by the swiftness with which the COVID-19 pandemic arrived and the economic disaster it birthed. While we are just beginning to see some of the consequences of a hobbled economy, most experts agree that the effects will be far-reaching and, perhaps, long-lasting. If you are nearing retirement, now is a perfect time to evaluate and strengthen your financial plan. You will want to discover and plug any potential revenue "leaks," create a safe money strategy to help you survive future economic turmoil, and ensure that you have multiple streams of accessible income. Here are some ways you and your trusted financial advisor can prepare your wealth to withstand future disasters.
- Take another look at your financial goals and priorities.
- How much cash would I need each month to survive?
- How much cash do I have for emergencies?
- How accessible is my emergency money?
- Do I have too much debt? If so, how can I work to get rid of that debt before the next crisis?
- Are there major life events ahead (weddings, retirements, new grandchildren, etc.) for which I need to plan?
- Are the assets in my portfolio properly allocated to reflect my risk tolerance and goals?
- Do I have documents such as wills, Do Not Resuscitate (DNR) forms, and instructions for my family members if I become ill or incapacitated? Do the people involved have easy access to these critical documents?
- Does my family know how to access my financial records, bank accounts, and everything they need if something happens to me?
- Are my electronic records backed up and stored on a separate hard drive?
Tim Davis
Davis Capital Corp
Katy, Texas 77494
tim.davis@retirevillage.com
(281) 665-3133
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