Losing your job is emotionally and financially difficult. You have important decisions to make, and you may be facing a very different short-term income picture. That’s why we designed a new experience specific to the COVID-19 crisis to determine what current and near-term resources may be available to help, as well as guidance and education to maneuver through this challenging time. This new tool is free, and may qualify you for a free financial plan with SAVVI. If you have yet to use it, click here. Once you have, our full SAVVI experience can help you gain even more clarity, confidence and control.

With the SAVVI platform, you have access to a tool that can help make sense of your financial position, now and in the future. You can login at any time to check your net worth, see where you can make smart choices, and create or rerun your financial plan. It can be comforting to know your net worth (assets and liabilities), that you’re still on track–or to have a sense of how to get back on track. If recent market declines have put your goals on a different trajectory, history tells us that markets get back on track over time, but you’ll want a disciplined plan moving forward. Here’s how the different parts of SAVVI can help along with our COVID Relief Guide.

The Organize function allows you to link all your financial accounts together in one place. At any given time, you can see your household balance sheet: your assets, liabilities, income and net worth. This section also helps you unite your workplace benefits–like HSAs and 401(k)s, with your personal finances–like checking accounts and student loans. Here you can assess your cash cushion, debts and other investment accounts that you may need to access to provide income before you’re back to work.

The Understand function gives you a sense of where your money goes. If you’ve previously had a SAVVI plan with your income, this is certainly a different situation with work income changing to unemployment insurance income. We give you a high-level look with the Big Picture; then specific Insights into your debt, savings, housing costs, and cash reserves. Here you can help make sense of committed expenses and to think about areas where you might be able to improve your spending until you’re back to work.

The Plan section of SAVVI is where you receive actionable, tax-smart insights about your money. Where to save, how much to save, and how to achieve your goals, can all be gleaned from this part of SAVVI. It’s understandable that long term goals like retirement are not as strong a near term priority as before, but it does still matter. SAVVI’s advice considers all your goals together, and your SAVVI plan will be there to revise when you get back to work and earning an income when those aspirations may be more worth dreaming about.

As part of your overall plan, premium, personal and employee users of SAVVI get detailed asset allocation advice. We help you understand the specific asset classes where you should be invested based on your timeframe and risk tolerance. In addition, you can model the impact of past crises on your plan, like the 2009 financial crisis or the great depression. With the recent volatile market, this can help make sense of how you may want to be invested.

All this can seem daunting, especially at this challenging time, but SAVVI works at your pace. Even devoting a few minutes per session can keep the process moving and give you much needed perspective. Seeing what’s possible long-term can be inspiring, and knowing that you’ll be okay in the short term can be comforting. If we can help in any way during this time, let us know. All of us at SAVVI wish you good health, safety and comfort during and after this trying time. We hope that you’re back to work and that life returns to normal soon.

If you've been financially impacted by the Coronavirus crisis, click here to take advantage of our free interactive tool. The questionnaire will help you determine if you qualify for assistance to maintain financial stability in this time. If you qualify, you will also have access to a free financial plan from SAVVI. Your SAVVI plan will take into account the effects of the current crisis, while helping you achieve your long-term goals.

SAVVI Financial LLC (‘SAVVI’) is an investment advisor registered with the Securities and Exchange Commission. SAVVI does not guarantee investment results and past performance is no guarantee of future results. Information provided is for educational purposes and does not constitute investment advice, which is only provided to registered users who have a valid Investment Agreement in place with SAVVI. No information on this presentation should be construed as an offer to buy or sell any security or insurance product. SAVVI is not a certified accountant, lawyer, tax professional or HR professional. Nothing in this document may be considered as tax, accounting, employment or legal advice. Please consult with your accounting, tax, human resources or legal professionals before taking any action.

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