Your Money Your Health: Managing Money in 2021 & Beyond

As the COVID-19 pandemic continues to produce new challenges for world economies and healthcare systems, easy access to the information you need to make educated decisions is more important than ever. To answer your timely questions, Investopedia and Verywell, a leading health and wellness publisher, hosted a free, virtual conference for our readers on Sept. 21, 2021, at 1 p.m. EST. 

The leaders of Investopedia and Verywell spoke to industry experts to explore topics including what long-term economic recovery looks like, how to manage financial stress, and the future of investing. The goal was to help you feel mentally, physically, and fiscally prepared to take on the months and year ahead.

Conference Day Expectations

The virtual “Your Money Your Health” event was an afternoon of 45-minute discussions with panelists and audience Q&As hosted by Investopedia’s Editor-in-Chief Caleb Silver, Verywell Mind’s Editor-in-Chief Amy Morin, and Verywell Health’s Chief Medical Officer Jessica Shepherd, M.D. 

Guest panelists included: 

• Erik Anderson: President of Global Services, Hologic Inc.
• Melynda Barnes, M.D.: Chief Medical Officer, Ro Health
• Mike Bayer: Life coach, best-selling New York Times author, and founder of CAST Centers
• George M. Blount, D.B.A.: Financial therapist & founder, nBalance Financial
• Ethan Harris: Head of Global Economics Research, Bank of America Merrill Lynch Global Research
• Haesue Jo, LMFT: Head of Clinical Operations, BetterHelp
• James L. Madara, M.D.: CEO & Executive Vice President, American Medical Association
• Carolyn McClanahan, M.D., CFP: Founder & Director of Financial Planning, Life Planning Partners Inc.
• Jim Merlino, M.D.: Chief Clinical Transformation Officer, Cleveland Clinic
• Liz Ann Sonders: Managing Director & Chief Investment Strategist, Charles Schwab

The first half of the day included panels on how to heal the economic scars of the pandemic, how to manage financial and mental stress during a complicated time, and how to pay for the future of care. The afternoon included discussions about how the healthcare system will move forward and how to invest through a tumultuous time.

Why Now?

In 2021, the COVID-19 continued to present unheard-of challenges for Americans, the U.S. economy, and healthcare systems across the United States and around the world. While Investopedia was focused on answering questions about finances, the stock market, and the global economy, a few timely themes emerged in the fall of 2021, indicating that, in many ways, the recovery from the pandemic had just begun.  

Financial Stress Runs High

The pandemic brought financial stress in the form of job loss and unexpected expenses to many Americans, and many are still feeling the burden, according to the latest Verywell Mind Mental Health Tracker. According to our readers, financial troubles are even more stressful than the COVID-19 pandemic.

To arm readers with tools to combat and prevent financial stress, Amy Morin, Editor-in-Chief of Verywell Mind, and Caleb Silver, Editor-in-Chief of Investopedia, explored this topic with mental health and financial therapy experts at the “Your Money Your Health” conference. 

Investor Sentiment Waivers

After a year of continued record highs for the U.S. stock market, investors may be less inclined to take risks in the back half of 2021, according to our latest newsletter reader survey. 

In Aug. 2021, individual investors expressed growing concerns about government spending, inflation, and cyberattacks alongside the spread of COVID-19 variants. Projecting lower market gains, most survey respondents said they don’t plan on increasing their investments over the next 12 months. 

Investopedia’s Caleb Silver and Liz Ann Sonders, Managing Director and Chief Investment Strategist for Charles Schwab, discussed how the pandemic has shaped investor behaviors and markets and what that means for building wealth in 2022.

All Eyes Are On the Economy

COVID-19 quickly brought many segments of the U.S. and global economy to a halt shortly after March 2020 as businesses, travel, and hospitality industries shut down. Early measures of the economic fallout are on par with the initial declines of the Great Depression, but 2021 showed the economy was on a road to recovery—but that road is not without bumps and turns.

With so many moving parts, reports of lower economic confidence, and further recovery on the horizon, Investopedia’s Silver and Ethan Harris, Head of Global Economics Research for Bank of America, discussed where the U.S. economy stands today, the long-term global impacts of the COVID-19 pandemic, and what it all means for consumers and individual investors going forward.

Keep Reading to Learn More

To learn more about some of the topics industry experts explored at the virtual conference, read the articles in this content series: