Some encouragement from our financial advisor:
As I always try to find the silver-lining to life's challenges, over the next few weeks we will all have the opportunity to connect more with our family. A client told me recently that, because she is working more from home, she is spending more time with her husband and that “he seems like a nice guy”.

Humor aside, I want to be clear that I understand the severity of our situation and I am truly empathetic to your concerns. It is surreal to see so many empty shelves at Target, Ralph’s, Costco, etc. To me, this serves as proof that uncertainty leads to fear. Fear leads to panic and panic leads to bad decisions. I believe that in times like these, it is important to avoid trying to predict the immediate future. Rather, while understanding that there is much at stake, in this process we must remain calm, pragmatic and laser-focused so that we may make good decisions.
It is important to maintain perspective as it relates to economic uncertainty and stock market volatility:
1. Have we seen stock market declines of 30% - 50% before?
YES! We saw the market decline like this in 2000-2003 (-52%) and in 2007-2009 (-58%). This happens all the time [on average, once every 7-10 years]. It doesn’t feel good, however market corrections/bear markets are normal.
2. Did the market eventually recover?
YES! After every one of the stock market declines we have seen in this country, the stock market fully recovered.
3. Did the market then reach new highs?
YES! Every single time the market recovered and reached new highs, without exception.
4. Is it ‘different’ this time?
NO. THIS TIME ISN’T DIFFERENT! (The circumstances that create the crisis are different). This time it is the Coronavirus. Last time it was the housing market. The time before that was technology, corporate accounting scandals and 9-11. The time before that, it was something else, and so-on and so-on. Remember, "Those who cannot remember the past are condemned to repeat it." – George Santayana
As I mentioned in my last note on March 2, 2020, “…most of us, depending on our investment goals and asset allocation, are currently ‘under-allocated’ stocks anyway.” If we have not yet spoken regarding a systematic strategy to gradually increase your stock market exposure through this volatility, that conversation is certainly overdue. Please contact me at your very earliest convenience so that I may explain why increasing stock market exposure now makes sense for most people. I forget who said it, but it is true: We make most of our wealth in bear markets. We just don't realize it at the time…
If you've read this far, congrats! You are almost done…
I want to sign-off with a final thought that a colleague recently shared with me: Gratitude involves noticing the goodness in the world and in the midst of negativity, gratitude ensures that we do not lose sight of what is good. The more space gratitude is allowed to take up, the more it will expand itself and make way for other positive emotions, like happiness, appreciation, and even joy. Let us reflect on what is truly important to us and, as we move forward, remember that fear and faith both believe in a future that hasn't yet happened. Fear believes in a negative future. Faith believes in a positive future. I choose to believe in the latter and I have faith that this too shall pass!
Stay healthy and positive. We live in the greatest country in the world and, together, will we will overcome this challenge and emerge stronger than ever before!