Matt Reiner, Benjamin CEO, was recently featured in an interview with Forbes. In the article, Matt shares thoughts about the impact that the current global health pandemic is having on our financial futures.
In the article Matt shares, “This is a ‘forced change. Companies are going to realize that they are able to get things done from home and via video conferencing; thus, maybe not have to have such a high travel budget. Potentially, businesses will see more remote work makes sense, which means less office space will be needed or their pool of potential new employees is expanded outside of their current local city.”
An excerpt from the full Forbes article can be found below.
How Does Your Financial Future Change From These Unexpected Good Things That Will Come Out Of This Crisis?
One day this will all be behind us. And when it is, we may just discover some good has come of it.
“Anytime you go through a once in a 100-year event you will learn things and be better for it,” says David S. Richmond, Chairman & Co-Owner, Richmond Brothers, Inc. Jackson, Michigan. “That is true individually, collectively and as a government. So we will learn all kinds of things from being more prepared (financially) to new ways to do things. There will be consequences for each of these learnings and out of that will rise a new normal.”
If you’re like many others, you may be having second thoughts on your financial priorities right now. That’s a good thing. It signals a return to fundamentals. And fundamentals are a necessary component for building a strong future.
“The best thing that I see coming out of this crisis is that everyone is realizing that it’s not just rhetoric to have three-to-six months of savings on-hand for a rainy day,” says Michael Gerstman, CEO of the Dallas-based financial planning firm, Gerstman Financial Group, LLC. “With so many people being stuck at home, laid off or furloughed, their income has come to a grinding halt for the time being. This is proof positive of the truth behind saving for a rainy day.”
How do you save more when things are tight to begin with? Well, it starts by taking a look at what has been constraining your net cash flow.