As Georgia now becomes one of the harder hit states, we are all doing everything we can to help our neighbors and remembering we are all in this together. In times of crisis we typically see the country put differences aside for the greater good and nowhere is that becoming more apparent than in some of the news we are seeing.
• The human spirit is strong and it feels like the country is rallying around our healthcare workers and first responders. In Midtown Atlanta residents are cheering healthcare workers from their balcony each evening at 8PM (Video).
• Along roads in Atlanta, signs are posted saying “Thank You” to the teachers and administrators trying their best to work virtually with students to continue their education. • We are hearing heart-warming stories from our clients about their efforts to help by donating to local food banks and charities.
• Our FIT™ Perspectives Team shares the latest podcast episode entitled “Stimulating – A Discussion of the 2020 CARES Act,” which was recorded to explain a few of the key provisions that might impact your wallet, and maybe even your financial independence moving forward. You can listen to the FIT™ Perspectives Podcast episode here.
• The Kraft family, which owns the New England Patriots, purchased more than 1 million N95 masks and sent their plane to China to pick them up.
• Dolly Parton has donated $1M to Vanderbilt University Hospital to assist in their efforts to develop a cure.
• Families are finding new ways to connect, we have heard about families having group Zooms, Google Hangouts, and heard about grandparents interacting with their grandchildren by reading them stories and playing board games via FaceTime (one advisor’s daughter is undefeated in Facetime Candyland).
• Companies continue to innovate as drugs work through clinical trials and companies have developed tests which can provide results in 15 minutes.
• In corporate America, companies that are traditional competitors are collaborating like never before to make personal protective equipment and other needed supplies.
From an economic standpoint, the government seems to have a “whatever it takes” mindset to bridge the economic gap for families and businesses until this crisis is over.
• Individuals and families that qualify should begin receiving their stimulus payments in as soon as 3 weeks (much faster than the 2008 financial crisis).
• While businesses are hurting and some permanently close, the government is set to start processing loans under the Paycheck Protection Program today with payments to be issued as quickly as possible.
• Student loan payments are being deferred and many banks are working with homeowners to provide mortgage relief for those unable to pay.
We would love to hear from you and how you are filling your time during social distancing as we all navigate the new normal!