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Long Covid: Human Capital Destruction at Scale, Consequences & Actions to Take

Large scale events have long tails, never return to “normal” quickly, and are never predictable! 

Covid has already destroyed human capital on a global scale. With over 6 million deaths and 460 million reported cases, its scale equates to major wars and famines. 

That may just be the beginning. Research early in the pandemic indicated that 30% of Covid cases (80 million in the US) may have long-term debilitating symptoms.  We know past viruses like HIV debilitated people for decades, symptoms of others like SARS turn up years after the fact.  It is far larger than a patient-doctor issue when the scale is this large. It is an economic issue that directly impacts both basic forms of capital – Human and Financial. Covid amplified the relationship between and accelerated the process of inextricably weaving them together. 

Individuals are not immune: It triggered reviews of every financial plan, formal or informal. It compelled revisions, rebalanced priorities, and redefined legacy — whether advisors were aware of it or not. 

Investment portfolios are not immune. The rules changed abruptly. Supply chains crumbled globally. Well positioned investments prospered from sudden swollen demand, others failed as supply or demand evaporated. 

Macro-economic adjustment was fast and large. Liquidity was ratcheted up with monetary and fiscal actions to provide an unprecedented “bridge loan” for the economy to get past the initial waves of the pandemic. The immediate “symptoms” were ‘cured’, but at the risk long-term asset bubbles and inflation. 

Putting Covid in the rearview mirror is premature.  The questions are – How will financial advisors and financial firms help their clients and customers:


  • See and appreciate the many long financial tails of Covid?
  • Understand the permutations and consequences for their financial plans, goals, security, and legacies?
  • Navigate the client’s and customers best path forward to achieve their goals?


For our White Paper, use the form below. 

Long Covid: Human Capital Destruction at Scale — Consequences and Actions to Take

Long Covid is the topic of the WHEN “Drill Down” Discussions May 24, 26, and June 1 (via Zoom)

Long Covid: Impacts from Population Health to Human Capital, and Implications for Financial Products and Services

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