COVID-19 and your Finances

COVID-19 is a disease the likes of which no one alive has witnessed or has any real recollection of.  While we’re Attorneys here and not Doctors, we know that COVID-19 has a real impact, not just on people, but their finances as well.  Many Americans don’t have paid sick leave and if they do, perhaps they don’t have enough.  Many people work in industries that often shut down when they don’t have enough visitors like hospitality, the restaurant business, lodging and seasonal jobs that depend on foot traffic.  Let’s be honest, I don’t know about you, but I do know that I’ve been out and about and all I can say is, foot traffic is at a minimum to say the least.  Additionally, with schools and businesses closed, many of the industries that support these large employers like parking attendants,  dry cleaners, sanitation workers, janitors and custodians as well as hourly secretarial staff are all seeing hours cut back or eliminated period.  A recent CNN article suggested that more than half of all jobs in America are at risk.  The author states, “Nearly 80 million jobs in the US economy are at high or moderate risk today, according to analysis in the last week from Moody’s Analytics. That’s more than half of the 153 million jobs in the economy overall.” We could potentially take years to get back to where we are today if the worst case scenario materializes and for many, that is simply too long.  Thousands of small businesses will be affected by the economic downturn and millions of people will experience furloughs, layoffs and closures.  That said, we are here to help.  Harmon and Gorove has successfully helped people navigate economic downturns and have assisted them in making their financial situation work for them, even in the worst of times.  We understand that no one ever expects to be here, but don’t worry, we are here to help in a compassionate and judgement free way.  If you’re suffering from job loss, or simply just having your hours cut, contact us today for a free, no obligation consultation to learn how we can help you navigate the most recent economic downturn.