A good navy builds strong ships not because they anticipate peace and smooth sailing. They build strong ships because they expect to encounter battle and endure storms. Although we never know the exact timing of future stock market "storms" when building our clients' financial plans and portfolios, we build them with the expectation there will be periods of growth and periods of decline on the
journey together. Our current market environment is just one more storm and we are prepared to weather it.
My team and I continue to monitor each of our clients' portfolios and measure their performance versus the goals they set within their financial plan. It is the financial plan that should drive portfolio decisions rather than emotions and we are actively monitoring our clients' progress toward their goals. This is true regardless of whether markets are up or down. Rest assured, we are not proceeding blindly and I will actively reach out if I
determine any course corrections are necessary to keep you on track. I am also available to listen and welcome the opportunity to discuss your concerns.
A key element of successfully navigating a stressful situation is remaining focused on the things we can control - our actions, thoughts and emotions. I understand controlling one's thoughts and emotions is sometimes easier said than done during periods of uncertainty. The Center for Disease Control (CDC) has provided some suggestions to help individuals manage stress and anxiety as the country works through the COVID-19 situation.
These include:
- Take breaks from watching, reading, or listening to news stories, including social media. Hearing about the pandemic repeatedly can be upsetting.
- Take care of your body. Take deep breaths, stretch, or meditate. Try to eat healthy, well-balanced meals, exercise regularly, get plenty of sleep, and avoid alcohol and drugs.
- Make time to unwind. Try to do some other activities you enjoy.
- Connect with others. Talk with people you trust about your concerns and how you are feeling.
Managing anxiety can be especially challenging for children. The CDC recommends several stress and anxiety management strategies for parents to help young children and teens cope in healthy ways. These and other strategies for maintaining your family's mental and emotional well being can be found via the links below:
As always, I'm happy to review your financial plan together and outline the specific ways my team and I have built your portfolio and your plan to carry you through uncertain times to the future you desire.
