You, your financial position, and COVID - 19

26 March 2020

A virus of pandemic proportions that is unprecedentedly strong in our existence, and thus on our society. Now more than ever, you should have your financial plan looked at.

By our partner YourFinancials

What a state. A virus of pandemic proportions that is unprecedentedly strong in our existence (comparisons with the Black Plague and influenza centuries ago are made) and thus on our society. However, beautiful things also come from fear, ignorance, uncertainty and suffering. Citizenship, practical help without immediately sending an invoice,m attention, help, and determination to get out of this stronger again.

You have already seen many reports that there is unrest, that suffering is taking place on a medical and social level, and that the economy is gradually coming to a standstill. You may have a mortgage, savings and investments. We think it is important you refresh your view on your financial position in view of new options.

We recommned you take a view on income and expenses for the next  three months, for the rest of 2020 and later. The Dutch government has issued an unprecedented support package aiming to protect work/income continuity, and several financial institutions (banks, insurance companies, pension funds) provide relief in the form of payment delay possibilityies. The package is there but you have to take the initiative to get what you need and are entitled to.

We are not going to give a thorough analysis of what is affecting the recovery of the real economy and thus developmentsi n the money and capital markets .The latter determines how sustainable your financial plan is and how it affects your recommended product. We don't do that because we can't do that now. And we can't because there's still a lot of movement in all directions; identifying a means is impossible. Looks like it's going to take time before a real direction is found.

In times like these, where maintaining "socail distance" is key, the importance of being financially close is super important. We work together with reliable business partners for financial products. We chose them with care. THey understand their craft, are keeping promises (even now!), try to bring the best solutions to a challenge and communicate a lot right now. At times like these, financial partners delivering on promises to keep your interest at the centre of their universe is key for you.

If you have any questions about your flan, your mortgage, your insurance, your investment, or anything else please contact your financial adviser, knowing the Dutch state relief programme should you need to use part of it.

Advisers, just like you, are careful with visits. Modern technology can help to bring more than just an encouraging, understanding, or other compassionate sounds via the phone.

These are special times for everyone. We wish that the health of you and your loved ones is not affected or is not at risk.