Coordinating A Safe and Wise Return to Work

Financial tips

Coordinating A Safe and Wise Return to Work

Posted by Infinite Wealth Advisors, LLC
4 months ago | June 1, 2020

As states continue to reopen for business, many of you might be feeling anxious or perhaps even excited about the return to normal life. Each state, and even each employer, will employ different practices in order to help workers feel safe. But here, we can review some of the basics regarding what you can reasonably expect.

Extra “pandemic” unemployment benefits end July 31. Currently, the extra 600 dollars per week, provided to those on unemployment during the pandemic, is set to expire on July 31. Unless something changes, unemployment benefits will then revert to their usual amounts.

Employers who have laid off employees will likely feel motivated to recall them to work, if possible, by that end date. If that looks unlikely in your industry, and you have been drawing unemployment benefits during this time, July 31 is an important date to keep in mind with regard to your income.

You could receive extra accommodations. Many employers are allowing workers to continue tele-commuting, when possible. This is especially likely if you fall into one of the Covid-19 high risk groups, or you have young children at home whose daycare or school is closed. If tele-commuting is possible for your job and you need this accommodation, it is important to communicate with your employer before your company’s reopening date.

Many companies will follow CDC recommendations for reopening. Guidelines are suggestions, but not dictates. Pay close to any communications from your employer during this time, so that you learn which CDC guidelines they intend to enforce. Coronavirus testing might be requested or required, face masks could be suggested or mandatory, and self-monitoring of potential symptoms such as fever will be important. Those who are concerned about recent coronavirus exposure might be able to continue working from home for a two-week period, but again, this will be dependent upon workplace policy.

Take a closer look at your financial position. Employment situations aren’t the only major change happening right now. If you’re concerned about retirement planning or anything else related to your finances, we are available for consultation. If you need to make any changes to your financial plan, we can help you navigate those decisions and choose an appropriate path.

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