WIFS West Florida luncheon, March 8th

Behind Closed Doors: The Financial Burdens of the Opioid Epidemic-Do you really “Know Your Client”?

As the opioid epidemic continues its devastating course across the US, the financial toll has reached alarming heights, causing an economic loss exceeding $1 trillion. The staggering impact of opioid use disorder (OUD), overdoses, and deaths poses a significant threat to the economy, careers, family finances, and retirement dreams.

OUD affects millions of Americans and their families, yet it often remains an unspoken challenge in conversations with financial clients. While financial professionals are well-prepared for life’s uncertainties, from unemployment to medical crises, the unique complexities of substance abuse are often overlooked. Families grappling with the financial and life-threatening implications of opioid addiction require thoughtful planning to avoid costly mistakes or the inadvertent passing of a challenging legacy to heirs.

The financial devastation encompasses challenges such as bill payments, asset liquidation, bankruptcy navigation, treatment affordability, life insurance coverage, missed contributions to savings, IRA and 401k accounts, and the potential for financial fraud or elder financial abuse within families dealing with addiction-related issues. The shame and secrecy surrounding addiction further complicate matters, compelling many families to conceal its true costs.

In this timely presentation, Cheryl Canzanella, CLU, ChSNC, LUTCF brings her expertise and life experience to the forefront. Cheryl has prioritized educating financial professionals to empower them in aiding clients facing financial burdens due to the opioid epidemic. Her recent collaboration with the Securities Commissioner and Governor of Ohio on the Recovery Within Reach Campaign underscores her commitment to addressing this crisis.

March 8, 2024 – JW Cole, 4301 Anchor Plaza Parkway, Tampa FL 33634.

$20 for members and $30 for non-members.

View full event and register here