Beyond The Stethoscope: Panel on Debt & Finances During COVID19

Panel on Debt & Finances During COVID19

Jun 23, 2020

Favorite quotes of the episode:

“It’s ok if you are in financial survival mode right now but remember that it’s a temporary situation.”

“Make sure your emergency fund is somewhere you can access in the middle of the night.”

“COVID19 has exposed the need for an emergency fund, but make sure your cash that’s just sitting around waiting on an emergency is earning interest for you. For example, there are high-interest savings accounts earning over 1 percent.”

Episode Overview

In this episode, I talk with Meredith Jones, DVM, Financial Coach, and co-founder of the Veterinary Financial Summit and Isaiah Douglass, a fee-only certified financial planner and founder of ID Financial Planning & Wealth Management. We discuss both the debt and income sides of the equation as well as resources that are available to business owners to get through the COVID-19 pandemic.

TOPICS

There are a lot of moving pieces of the financial puzzle right now, where do we start?

Debt, where do we start and how do we navigate this new dynamic?

Telehealth

Will we resume business as usual or has business changed for the future?

Good time to revisit your budget (cash flow plan)

Financial planning areas to work on right now

How big should an emergency fund be and where should you house it?

Student Loan Forgiveness: The Tax Bomb

Recent changes to the Paycheck Protection Program (PPP)

How COVID is affecting employees vs. business owners

New flexibility around retirement accounts