Prosperity Now: Responding to Client’s Now, Soon, and Later Needs (Webinar)
February 2 @ 8:00 am - 5:00 pm
One event on February 2, 2021 at 8:00 am
One event on March 3, 2021 at 8:00 am
Prosperity Now is hosting a webinar on Responding to Client’s Now, Soon, and Later Needs on Tuesday, January 19th, Tuesday, February 2nd, and Wednesday, March 3rd, at 2:00 PM.
The pandemic has proven the need for emergency savings, even those who had savings and were formerly financially stable have been pushed to the brink. At the beginning of 2020, about 37% of U.S. households—over 45 million households total—were found to be liquid asset poor. Over half of all households (52.8%) didn’t have enough saved in bank accounts or cash on hand to meet this emergency savings need without having to access or leverage their retirement savings—or falling short of meeting that need entirely. During the pandemic, savings increased with the passage of the CARES Act—specifically because of the $1,200 Economic Impact Payments (EPI) and the weekly $600 Pandemic Unemployment Insurance (UI). Although the EPI and UI were inaccessible to many and insufficient for those who needed them the most, savings still increased. According to one study, “the unemployed roughly doubled their liquid savings during the four-month period between March and July 2020.” Despite gains in savings, LMI people are still in a precarious situation, it is vital to provide flexible savings solutions that address immediate needs, while also leading to long-term savings.
Click here to learn more and register.