‘How to Plan for an Emergency’: A webinar, part of Financial Literacy Month
I’ve been using Reuters news and terminal products since 1982; I still do. The company has now rebranded itself as Refinitiv – Financial Solutions-Advanced Tech, Data, Expertise. Owned by the London Stock Exchange Group since 2018 when Thomson Reuters sold its 45% stake and Blackstone Group LP its 55% holding, it employs 18,500 people worldwide (2018 figures) and is still a commanding presence in its field. www.Refinitiv.com
More recently they’ve moved into educational videos, conferences and a whole host of innovative subsidiaries, including FXall and Refinitiv Lipper. The latter invited me recently (28 April) to watch a presentation with the above title. Presented by Reuters Special Projects Editor Lauren Young, with an introduction by Vishal Jain, Head of Wellness Strategy at Prudential, the three panellists were a breath of fresh air dishing out a whole load of common sense and encouraging tips and tactics.
Some STA members might find the presentation too basic for their needs, but I pass it on as I have a funny feeling that it’s exactly the sort of thing their offspring might find handy – especially as it’s not coming from family with hints of parental disapproval. Also coming from a United States perspective, it helps keep the subject at arm’s length from UK-centric issues.
Did you know that 46% of US households are struggling financially? That 42% of these today earn less than they used to? That the Covid-19 pandemic has put 8 million Americans into poverty? I’m sure you know that here in Britain many have had to resort to food banks and that free school dinners are a key element in a household’s finances.
The video also gives tips on how employers, family and friends can help those trying to move on to a more secure footing. ‘’Nothing helps you sleep at night [than] knowing you’ve got some money tucked away. A small amount of savings – like $250 – can make a big change to someone’s life’’, says Gary Cunningham, CEO Prosperity Now. The speakers suggest one should save enough for 3-6 months’ worth of regular expenditure; the self-employed 9-24 months.
Employers can make this as easy as possible, automating the process, by setting up several savings accounts for separate purposes. Needless to say, financial advice is worth a lot in terms of staff loyalty.
Tags: emergency, investments, planning, Savings
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