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The pandemic has shown that long-term financial security is a necessity, not a luxury

The pandemic has shown that long-term financial security is a necessity, not a luxury

  • With the continuing economic uncertainty, now is the time to focus on how best to maneuver through the many financial ups and downs that impact your financial goals.
  • The Covid-19 pandemic has shown us that long-term financial security is a necessity, not a luxury.
  • Kevin R. Keller, chief executive officer of the CFP Board, shares how to find the right advisor.



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As of mid-September, there were 26.5 million Americans on some form of unemployment assistance.  Many families and individuals have been forced to deal with unexpected health costs and uncertain education and day care situations in their communities.

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Many Americans are facing a grave threat of financial insecurity, having lost either their employment or income, or both.

The tragic situation facing many Americans holds an important financial lesson. The Covid-19 pandemic has shown us that long-term financial security is a necessity, not a luxury. And that means competent and ethical financial planning must be a priority.

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When the financial markets plummeted in March and early April, some financial planners began to see an increase in demand for their advice. An April survey conducted by Nationwide found that 1 in 4 Americans surveyed had sought the help of a financial advisor for the first time ever due to the pandemic’s impact. And 64% of advisors surveyed by CFP Board in April said they believe that more Americans will seek professional financial advice in the wake of Covid-19.

With the continuing economic uncertainty, now is the time to focus on how best to maneuver through the financial ups, downs and sometimes sideways paths that today’s

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No Skiing, but Still Mountaintop Luxury at 2021 World Economic Forum Near Lucerne | World News

No Skiing, but Still Mountaintop Luxury at 2021 World Economic Forum Near Lucerne | World News

ZURICH (Reuters) – There won’t be any snow but there will still be a dramatic Swiss mountain backdrop when the world’s elite gather for the World Economic Forum (WEF) annual meeting near the city of Lucerne next year.

Buergenstock, in central Switzerland, has been chosen to host the May meeting of world political and business leaders, over Davos, the Alpine ski destination synonymous with the annual jamboree.

The coronavirus pandemic has forced the WEF to move the meeting from the resort that has hosted the high-profile event since the early 1970s but it said it aimed to return to Davos for the 2022 annual meeting.

The WEF rescheduled the 2021 annual meeting to May 18-21 as a combination of in-person and remote digital events via a network of 400 hubs around the world.

For those Wall Street bankers and Silicon Valley investors able to make it in person, Buergenstock still offers luxury hotels, fine-dining and mountain pursuits – albeit on foot rather than on skis.

“The meeting will take place as long as all conditions are in place to guarantee the health and safety of participants and the host community,” the WEF said in a statement.

The 2021 meeting will be held around the theme of “The Great Reset” to plot a path to recovery from the pandemic “and rebuild a more cohesive and sustainable society”.

(Reporting by Michael Shields; Editing by Toby Chopra)

Copyright 2020 Thomson Reuters.

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