The Covid pandemic has made us reevaluate nearly everything in our lives – from our jobs and where we want to live, to our relationships with others and the best way to educate our children. It is also changing the way we think about our money, both in the present and in anticipation of an uncertain future. If, like many, you’re thinking it has never been a better time to take a more hands-on approach to estate planning, here are some thing to consider.
Building Wealth: Covid has changed the daily needs of the public, which in turn has affected financial markets and created opportunities for investors to grow their private wealth. For example, gaming, already a popular activity, has increased dramatically during the pandemic, when people were largely confined to their homes. This has caused a huge uptick in users and investments in gaming companies such as Roblox, which has recently reported having 115 million monthly subscribers and is about to go public.
Sharing Wealth: Covid has also presented new opportunities to give back. In a previous post, we talked about how wealthy families are utilizing their private wealth investing in innovative new companies – particularly those founded upon a socially conscious mission – that are struggling due to the pandemic. If you’re looking to contribute directly to Covid relief efforts, you might also look into one of the many organizations assisting people who have lost