fbpx

Financial Literacy Month, Coronavirus and Financial Resilience

Beginning 16 years ago, April was declared Financial Literacy Month as part of a strategy to enhance and increase nationwide financial literacy. It was implemented with the hope that it would lead to increased government advocacy of financial literacy programs, as well as spark more interest in programming already offered through schools, non-profit organizations, and businesses.

The creation of a month-long focus on financial literacy was a pointed acknowledgment of its importance in helping Americans gain necessary financial knowledge – knowledge that proves integral during a time of crisis like we are facing now with the COVID-19 (coronavirus) pandemic.

Though prevention is always preferable over a cure, it’s never too late to learn more and change your financial behaviors. Doing so can help you become more resilient in the face of financial adversity during times of personal or worldwide crisis. So, here are three ways you can personally celebrate Financial Literacy Month this year:

Know and Understand New Government Measures

Public health concerns often disrupt financial markets for investors, but the widespread nature of coronavirus and government directives to stay at home and shelter in place are affecting many Americans on a very personal, individual level. Take time to learn all you can about the CARES Act and what it means to individuals and businesses. You may qualify for benefits that can make you financially stronger during this trying time.

Educate the Children in Your Life

Shockingly, only 21 of the 50 states require students to study financial literacy in high school. This leads to generations of adults who do not know how to handle a financial emergency, which we will all face from time to time – and which many people are experiencing as a result of coronavirus and associated job or income losses. As we practice social distancing and many people are homeschooling their children due to school closures, we have some flexibility in the curriculum. It’s a great time to talk with the children in your life about the basic principles of personal finance and to build resilience into their money mindset. You can find a host of resources on the U.S. Department of Education’s Financial Literacy for All website.

Have an Emergency Plan

You may be plugging right along with your retirement savings in tax-advantaged accounts, but financial crises like the coronavirus pandemic show that smart retirement planning simply isn’t enough. It’s crucial for every American to have robust emergency savings to provide needed resources in volatile economic times. Putting savings strategies into place – and making them automatic whenever possible – is an important step to take if you have not done so already. Make sure you are informed and educated about resources available to you, including any emergency funding opportunities made available through your employer.

Financial Literacy Month is an excellent time to focus on your personal finance know-how, to share important information and resources with family and friends – including children – and to set yourself up to be resilient in emergency financial situations. If there is one thing the coronavirus epidemic is teaching us, it’s that basic skills and preparation can help us navigate turbulent times and remain on the strong financial ground despite challenging circumstances


ALL INFORMATION PROVIDED IS FOR GENERAL EDUCATIONAL, INFORMATIONAL, AND ENTERTAINMENT PURPOSES AND IS NOT INTENDED TO GIVE YOU SPECIFIC TAX, INVESTMENT, REAL ESTATE, LEGAL, ESTATE, RETIREMENT, OR FINANCIAL ADVICE, BUT RATHER TO SERVE AS AN EDUCATIONAL PLATFORM TO DELIVER INFORMATION OF HOW THESE PRINCIPLES GENERALLY MAY APPLY; NOR IS IT INTENDED TO SHOW YOU HOW THE STRATEGIES PRESENTED CAN SPECIFICALLY APPLY TO YOUR OWN TAX, INVESTMENT, ESTATE, FINANCIAL, OR RETIREMENT POSITION, AND DOES NOT CONSTITUTE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SECURITIES, INVESTMENTS, INVESTMENT STRATEGIES, OR INSURANCE PRODUCTS. THIS DATA IS FURNISHED WITH THE UNDERSTANDING THAT THE SHOW AND PRESENTERS ARE NOT ENGAGED IN RENDERING YOU LEGAL, REAL ESTATE, ACCOUNTING, ESTATE, INVESTMENT, TAX, FINANCIAL, RETIREMENT, OR OTHER PROFESSIONAL ADVICE OR SERVICES THROUGH THIS PROGRAM. NOTHING IS DIRECTLY OR INDIRECTLY GUARANTEED BY THIS INFORMATION.
ALL RESEARCH INFORMATION PROVIDED IS PUBLIC SOURCE MATERIAL. THIS MATERIAL MAY ALSO INCLUDE ADDITIONAL REFERENCES TO ARTICLES, NEWS, COMMENTARY, OPINIONS, VIEWPOINTS, ANALYSES AND OTHER INFORMATION DEVELOPED BY PEAK FINANCIAL FREEDOM GROUP AND/OR AFFILIATED AND/OR UNAFFILIATED THIRD PARTIES, WHICH IS SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE.  INFORMATION AND OPINIONS PROVIDED BY THIRD PARTIES HAVE BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT ACCURACY AND COMPLETENESS CANNOT BE GUARANTEED. PEAK FINANCIAL FREEDOM GROUP AND ITS AFFILIATES ARE NOT RESPONSIBLE FOR ERRORS OR OMISSIONS IN THE MATERIAL AND DO NOT NECESSARILY APPROVE OF OR ENDORSE THE INFORMATION PROVIDED. THIS INFORMATION IS PROVIDED “AS IS” AND NO PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THIS INFORMATION. PEAK FINANCIAL FREEDOM GROUP, LLC AND ITS AFFILIATES DO NOT WARRANT THE INFORMATION PROVIDED TO BE CORRECT, COMPLETE, ACCURATE OR TIMELY, AND IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS IN THE INFORMATION OR FOR ANY INVESTMENT DECISIONS, DAMAGES OR OTHER LOSSES RESULTING FROM, OR RELATED TO, USE OF SAID INFORMATION. THE IDEAS, THOUGHTS, AND STRATEGIES PRESENTED HERE ARE THOSE OF OUR MANAGEMENT TEAM AND PROVIDE AN INSIGHT INTO OUR VIEWS ON PEAK FINANCIAL FREEDOM GROUP, LLC AND ITS AFFILIATES. EVERY DETAIL PRESENTED HERE IS SUBJECT TO CHANGE WITHOUT NOTICE AT ANY TIME.
Peak Financial Freedom Group
2520 Douglas Boulevard, Suite 110
Roseville, CA 95661

DISCLOSURE: All presentation data is provided and intended to be used for general educational purposes only and is not intended as a solicitation for you to buy or sell any financial product. None of the material in this presentation is intended to give you, nor are the presenters engaged in giving you, specific tax, investment, real estate, legal, estate, retirement, or financial advice, but rather to serve as an educational platform to deliver information; nor is it intended to show you how the strategies presented can specifically apply to your own tax, investment, estate, financial, or retirement position, but rather to offer an idea of how these principles generally may apply.

Stocks, bonds, or mutual funds have risks and can lose principal, even with a stop loss, and there is no guarantees of gains, as past performance is not indicative of future positive investment results. The sale or liquidation of any stock, bond, IRA, certificate of deposit, mutual fund, annuity, or other asset to fund a new portfolio and/or annuity may have tax consequences, early withdrawal penalties, or other costs and penalties as a result of the sale or liquidation. You can’t invest directly into a stock market index. A fixed index annuity with an income rider can protect your savings from losses and provide you guaranteed lifetime income, but you could incur surrender charges, gains aren’t guaranteed, you’ll pay a fee, and guarantees are backed by the financial strength claims paying ability of the issuing annuity company.

Illustrations/projections displayed within this presentation are hypothetical in nature and should not serve as the sole determining factor in making financial decisions. Consult with a qualified investment, tax, legal, and/or retirement advisor before making any decisions. By contacting Peak Financial Freedom Group, you may be offered additional information regarding the purchase of financial products. Seminars, radio shows, TV productions, book releases, magazine and book promotions are sponsored, promoted and paid for by Peak Financial Freedom Group, LLC. If you place assets under management with our firm, we are paid an advisory fee, and if you purchase an annuity from our firm, we are paid commissions from an insurance company.

Investment Advisor Representatives of and Advisory Services offered through Fiduciary Solutions, LLC, a Registered Investment Advisor. Peak Financial Freedom Group LLC is primarily a fixed insurance sales organization and provides no Advisory Services. PFFG Insurance Agency LLC, CA License #0N14103, is a licensed insurance agency and provides no Advisory Services. Peak Financial Freedom Group LLC, PFFG Insurance Agency LLC, and Fiduciary Solutions LLC are separate affiliated entities. Insurance products and services provided by PFFG Insurance Agency LLC and independent agents.

Jim Files CA Insurance License #0F06511 Dan Ahmad CA Insurance License #0732913

© 2020 Peak Financial Freedom Group