Are Financial Supports Available For Physicians In Canada?

I woke up this morning, made my coffee and headed down to my new workspace in my basement. What an easy commute. When I’m hungry I pop upstairs and grab a bite to eat, say hello to my family and head back down. My life is very different today than it was just a few weeks ago. So many of us are living new realities. Yet I feel guilty in the comfort of my home.

Most of our clients are front line healthcare workers. I speak to them every day by phone or video conference. Every interaction starts with a very human conversation about families and about staying healthy and well. We discuss this new world of COVID-19 and adjustments that are being made at home.

And then I ask them how they are doing? How has their job been affected? How is their stress level?

“It’s the job we signed up for.” “If we don’t do it, who will?” “We are better off than our colleagues south of the border.” These are selfless individuals that put themselves directly in harm’s way to serve and protect the sick – and they are incredible. They don’t admit their stress and fears until pushed to do so in a conversation. For the many who lived through SARS, memories are fresh and the reality of danger is very present.

These are stressful times for many. Individuals have lost their jobs and their income. Business owners are facing bankruptcies. Families are juggling having the added stress of having children at home or older family members living on their own. People are getting sick.

Health care workers are facing a financial hit, have the same family dynamics, and are putting their lives at risk to help the rest of us. While we always owe them a debt of gratitude – during times like these, we are truly grateful for all you do.

With all the government supports available, we have put together this reference guide for physicians at different stages of their careers to navigate potential supports.

We encourage you to discuss these with your Tall Oak Private Wealth Team, your banker and your accountant.

As always, we thank you for the trust you have placed in us to steward your portfolios. We continue to work hard on your behalf to ensure that we are managing your assets through these challenging times.

We welcome you to reach out to us to discuss how this impacts your personal portfolios as we remain just a phone call away.

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