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COVID-19 has changed everything in this country. We’re all talking about the impact—the impact on financial markets, businesses, and people who may lose their jobs. How do we come back from that?
“We’re not just in the middle of a typical financial recession or market correction. This correction, this recession, is driven by a specific event. It’s unclear how that event is going to unfold and how quickly people’s financial situation is either going to deteriorate or improve from where it is now,” says Certified Financial Planner™ professional Will Stone of McMullin Stone and Associates.
In order to address those concerns, Stone has created a presentation called The Road to Recovery. He explains, “The goal of our Road to Recovery presentation is to help people assess where they are, what type of road they’re on, and some tangible steps that they could take to get back on track.”
Nearly a decade ago Stone, his wife, and their four daughters dealt with the aftermath of a fire at their home caused by lightning. Both for having lived through unexpected difficulty and because of his professional experience, Stone is especially qualified to speak to this. “For the past 15 plus years, I’ve been working with clients to help them understand how the different pieces of their financial life fit together and to map out a path for them to follow to accomplish the goals they have for their life, from a financial standpoint.”
Stone sees people at different parts of their Road to Recovery. “We have situations with clients who range in all different levels of severity: some that have lost their jobs, some where their income hasn’t really been impacted, but everyone is going through a reassessment. Even though the circumstances that have created this event are unprecedented in our lifetime, the way that we work through the financial evaluation and designing a way onward is not unique. Those are the things that we do all the time at McMullin Stone.”
Stone says that they focus on those broader-based issues, show how they are all interconnected, to help people assess where they are, and figure out how to move forward.
“I’ve had several conversations recently with clients who are still working and approaching retirement. What they’re most concerned with now is, ‘Has retirement been pushed out? Can I still do this in the next couple of years?’ That’s a question that a lot of people have and it’s not a cookie-cutter answer. It depends on their personal situation and how their income is holding up now, how their portfolio is holding up now, if their cash reserves are in place.”
Over the course of an hour, The Road to Recovery webinar will begin to answer questions about that. The presentation touches on information about the personal stimulus checks, unemployment benefits, and homeowner protections, but the heart of the discussion focuses on current options for retirement plans and the decisions and repercussions from disbursing money from IRA’s, 401k, Employee Retirement Plans, and other financial instruments.
Will Stone also talks about some basic COVID-19 money management ideas—practical ways to conserve cash and to leverage options the government is currently offering.
“An hour-long webinar is probably not enough time for someone to get the answer to personal financial questions like ‘Can I still retire on time?’, so we are also offering in-person consultations, after the webinar or by directly contacting our office. No one should feel uncertainty or that they are alone in figuring out their financial future. We are here to help,” said Stone.
The Road to Recovery will be presented on Wednesday, May 6 at 5 p.m. Click here to register for The Road to Recovery
This next week, Will Stone will also be offering a second webinar, “How to Navigate a Bear Market” for both clients and guests on Thursday, May 14 at 5 p.m. Click here to register for How to Navigate a Bear Market
To schedule a one-on-one virtual consultation via Zoom with one of McMullin, Stone & Associates’ Financial Advisors to discuss your Road to Recovery, contact Client Service Associate Melissa Harvey at melissa.harvey@mcmullinstone.com or 770-471-6674. You may also visit mcmullinstone.com for more information about the firm. The office is located at 101 Devant Street, Ste 903 Fayetteville GA, 30214.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. McMullin Stone & Associates is not a registered broker/dealer and is independent of Raymond James Financial Services.
