By Professor Anthony Rivieccio MBA PFA
I try very hard to make any decision, whether for myself or clients, as Joe Biden , or I am sure Dr Fauci would say ” by the science”. In economics or simple math, it is all about the percentages.
Now, I am not as scientist but I what I do remember was that when we were at a 1.9% COVID rate, last year, we were ( at that time) debating 2.0% as the close down number.
That was last year. Today, a year later, we are at 1.8%!. Has anything changed in a year?
Oh yes!!. Were trying to open schools!. And in NYC, without a remote option.
Joe Biden wanted us to open America! Like the old Independence Day movie, walk free and give us our victory. As long as you get vaccinated, go out , feel free to fill up the diners, the bars, the baseball stadiums!.
During the first week of June 2021, we were looking ( at a 7 day avg) of 257 cases. This was from a previous high of 1552 on May 1st . Right now, it is 1034 cases a day. On July 1st it was 245 cases.
So simple math:
From May 1st to June 1st: -17%
June 1st to July 1st. -5%
July 1st to Today. +24%
So it seems we lost all the gains from MAY on.
So now , with conflicting information, from Mr Fsuci, to The Biden Administration to members of Congress to vaccine manufactures who seem to be ( justifiably) seem to be getting it wrong, to the CDC that’s now says, mask up! Vaccinated or not!. Let’s be frank!
No one seems to know ( yet) what they are doing. We do not even know if this is a real virus. Now it’s called a mutant. A varient I say , in economic terms, we call this EXTREME RISK. The risk of safety first, which will eventually effect other parts of your life.
So whats the solution. Well I am a financial doctor not a medical one but I do know two things: One the COVID numbers ( to me) shows that once people go out in mass, the rates spike up. This will be very troubling, especially now for September school openings. Secondly, if you have not already it is indeed time to put together a sound COVID budgeting plan for yourself . We believe the off , now on ( and soon after , off) life confusion will show that we will be living with this ” virus” until 2023. Many others could still be effected. The current unemployed will need renewable help. Watch those pennies!. This time I don’t think the stimulas checks are coming anytime soon.
Professor Anthony Rivieccio, MBA PFA, is the founder of The Financial Advisors Group, celebrating its 25th year as a full service financial planning & investment firm. Anthony is also owner of Rivieccio Financial Advisors, a virtual only financial advisory firm, opened in 2021. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Co-Op City News, The Bronx News, thisisthebronX.info and The Bronx Chronicle. Mr. Rivieccio also pens a financial article called “Money Talk”. Anthony is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. For financial assistance, Anthony can be reached at (347) 575-5045. Have Facebook? My personal page is: