Helping clients emerge from the pandemic

March 1, 2021

By Tracy Stewart, CPA/PFS/CFF, The Tax Adviser

The coronavirus pandemic has turned lives upside down. School, work, medical care, travel, birthday celebrations — everything has changed, including people's financial circumstances. Many Americans have seen their incomes drop and, at certain points, their investment account balances plummet.

These dramatic changes are reflected in household budgets and financial plans. Many younger families have delayed the purchase of a home or reduced saving for their child's college education because of the income interruption. For those close to retirement, the pandemic may have pushed back their timeline, keeping them at work for a few extra years. Finally, for those already in retirement, the economic impact of COVID-19 may have required a change in spending habits.

The good news is that CPA financial planners have an opportunity to step up and deliver client value on a different scale. Here are nine conversations to consider having with clients as the nation begins to emerge from the pandemic.

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