{"id":389,"date":"2020-03-30T12:46:33","date_gmt":"2020-03-30T16:46:33","guid":{"rendered":"https:\/\/www.cannonclientsupport.com\/?page_id=389"},"modified":"2020-04-01T09:12:15","modified_gmt":"2020-04-01T13:12:15","slug":"cannon-immediate-action-tips","status":"publish","type":"page","link":"https:\/\/cannonclientsupport.com\/cannon-immediate-action-tips\/","title":{"rendered":"Cannon Immediate Action Tips"},"content":{"rendered":"

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IMMEDIATE ACTION TIPS\u00a0<\/span><\/h4>\n

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As your partner, we at Cannon Financial Strategists want you to be as financially healthy as possible during good times as well as the challenging times. Below you will find tips and articles for investment guidance and what to do if you have had a financial loss within your family. Look for links throughout for more detailed guidance.<\/p>\n

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<\/a>\u00a0CAREFUL CONSIDERATIONS BEFORE TOUCHING INVESTMENTS<\/strong><\/h2>\n

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Remember your long-term financial plan. Almost every financial advisor source will give you this same advice when it comes to long-term investing as there is a history of markets rebounding after periods of uncertainty. As COVID-19 becomes manageable in the U.S. and globally, markets will rebound to correct fear driven-losses. While no one can predict when that will be, we can all play a part by remaining calm and focusing where we can help. As always, reach out to your financial advisor if you are uncertain about your current long-term plan.<\/p>\n

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CONTACT YOUR FINANCIAL ADVISORS<\/h2>\n

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Schedule a call<\/a> with your Cannon Financial advisor for information and advice on your retirement plan as well as overall financial wellness support.<\/p>\n

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TAKE ADVANTAGE<\/h2>\n

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Take advantage of the\u00a0custom resources<\/a> compiled for Cannon clients and their families, including financial guidance, crisis management tips, news and local resources.<\/p>\n

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NAVIGATING FINANCIAL UNCERTAINTY OR LOSS OF INCOME<\/h2>\n

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If you\u2019re concerned about finances due to the COVID-19 pandemic, consider creating a temporary emergency budget <\/a>to help better understand your financial position and guide daily decisions.<\/p>\n

Make a list of all your daily, weekly, monthly and annual household expenses, separating them into six categories (add a seventh category if you have a family owned small business that impacts family finances). For each category, consider which expenses can be reduced permanently or temporarily.<\/p>\n

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Required Services<\/strong><\/h3>\n

(rent, health care, auto\/home\/life insurance, utilities)<\/p>\n

Review all required services and contact the providers to discuss your situation, as well as possible flexibility in payment schedules. A lot of providers will even negotiate your monthly costs if you ask.\u00a0Learn more<\/a>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=”1\/6″][vc_icon icon_fontawesome=”fas fa-shopping-basket”][\/vc_column_inner][vc_column_inner width=”5\/6″][vc_column_text]<\/p>\n

Required\u00a0<\/strong>Expenses<\/strong><\/h3>\n

(need such as groceries, fuel, phone, dependent care)<\/p>\n

Review each item in this category for excess and make adjustments based on the current circumstances (ie. elimination of childcare costs due to parent at home or closures).<\/p>\n