As some provinces head into a second COVID-19 lockdown, some people are asking the question: Why bother investing for the long term? For many, especially Millennials, the task of building financial wealth and security looks increasingly hopeless. Even the most prudent small business owners were caught short during the lock down in the spring and many are now facing the prospect of permanently closing their companies.
"This is the last time I'm starting a new year saddled with credit card debt," says Tiffany, a 48-year-old computer analyst. "I've said this every January for the past five years. This year, I've got to keep this promise to myself. I don't want to spend another 12 months catching up, only to fall behind all over again. I can't take this stress anymore."
While the world is not out of the woods going into 2021, we sure are looking forward to saying goodbye to 2020. We don't expect a light switch to just be flicked in January; We've got some dark days ahead of us. The good news though, is there is so much optimism going into the New Year. A number of vaccines were introduced at the end of last year and we're seeing millions across the globe getting vaccinated for COVID-19. This should mean some extremely needed immunity which will slowly open up the economy. So many small business owners need this so bad.