139th News

Coping with Financial Issues of COVID-19 - Part 1

  • Published
  • By Randy Gerard, Personal Financial Counselor

The following information is being provided in hopes of answering questions you may already have or heading off questions yet to happen. I am available Monday-Friday from 0730 to 1630 during this crisis by phone, email, text or virtually through Zoom or FaceTime. Don’t hesitate to contact me outside of the stated hours and I will respond at my earliest chance. Be safe, socially distant and healthy!

I. Families First Coronavirus Response Act – signed into law 18 March 2020

II. Retirement Savings Plans – Evaluate your ongoing contribution rate in view of your cash flow needs, and consider reducing or stopping contributions for the next few months. Your TSP is also a potential source of emergency funds if absolutely needed (note next item on tax implications):

III . Important Tax Information on Payments from Your TSP 

IV. Forbes Article on Potential Mortgage Forbearance

V. Dave Ramsey emailed article – What to do If You’re Out of Work

If you need help with any of these or anything else, contact me so I can help!

Cell: (573) 415-6934

Office: (816) 236-3659