Most of us are now home for an uncertain period of time. No doubt that these can be tough times. Many of you are concerned about cash flow and your investment accounts. For some, there will be government assistance to bridge the gap until life returns to normal. Pay attention to when this is announced. For others, we need to understand how our portfolios will endure and relate to our needs. We need to maintain perspective.
It is in these challenging moments that it’s important to remind ourselves about what really matters in life. Here is a checklist to help you:
Family- What a great time to spend quality time with the ones you love the most. Take advantage of the special opportunity to bond closer and appreciate each other. Make the most of this unique point in time. We’d love to hear what you’re doing. Maybe somebody else could benefit.
Connecting with others- There are many ways this can be done such as by phone, Facetime, Skype, email or texting. Reach out to others to make sure they are okay. Reconnect with longtime friends. Stay in touch with those whom you see regularly. Some may be struggling with the concept of social distancing and the isolation that comes with it. These emotions may grow stronger over time and lead to feelings of loneliness to depression. By reaching out to others continuously, you can be a positive influence in more ways than you could ever know. Help others get through this and others will help you as well.
Your health- Exercise, sleep, nutrition, meditation and managing stress are always important to maintaining good mental and physical well being but it is even more critical during this crisis. The better you take care of yourself, the more you will be able to help others. Understand there is a lot of noise coming from traditional news sources and social media which may elevate your stress level. Minimize your exposure to this. Remember that there is disinformation and conflicting and inaccurate reporting. So learn to tune out the noise. Choose your sources of information carefully.
Self-improvement- What a wonderful time to learn a new skill, start a new hobby, read some good books, plan for the future (there will be one) and to revisit who you are and what you can become. Let us know what you come up with! This may be directly related to your financial goals as well, we’d love to know!
Gratitude- Make the decision to be grateful; stay positive, keep your head up and take the high road. It’s far easier to complain, finger point, be negative or go down a dark path. Resist that urge and check yourself if you find yourself thinking or talking this way. Be a good role model. Focus on gratitude for what you have as opposed to what has been taken away. It’s helpful to also stay humble, calm and kind through all of this.
Compassion- It’s normal to empathize and feel sympathy for others who are not as fortunate as ourselves. We are all compassionate and caring people. Use faith and prayer as needed.
Laughter- It’s healthy and contagious. It’s free therapy for all of us. You will be happier when you lighten up. It’s a better way to live your life anyway, but we all need to laugh now to get through this. Share good humor with others. As always, we want to remind you that our firm is here to support you! Contact us when you are nervous, want to review your accounts or just need some reassurance about what is currently happening. Sometimes just talking and hearing a deeper perspective can be calming. Yes, these are extraordinary times. Uncertainty can genuinely lead to angst if you allow it. Remember to stay positive, be there to help others and just breathe!
Our country has been through really difficult events before and we will all get through this together! We are going to be okay!
Barry E. Moschel, RICP®, CLU®, ChFC®, CPA
Adam L Schwartz, CFP®, NSSA®
Tom Manno, CFP®