It’s spring, and we want to go out and get back to “normal,” but as Dr. Fauci says, the virus sets the timeline. At least 25% of our economy requires people to show up to deliver services such as transportation, dining, and events. Even with potentially $10 trillion or more of government support, we don’t know what the future holds.
I often write about controlling what you can control. There is plenty you can do without perfect knowledge of the future. Please know we are here for you, whether it is to make sure your plan is in order, maintain liquidity, to tax loss harvest, determine if you should rebalance, understand the Cares Act, fund your retirement plans or how to give yourself a paycheck and more.
Everyone’s financial situation is unique, and the best answers depend on knowing what is most important to you. Take comfort in your careful, recent and ongoing planning, and the diversification in your portfolios. It is good to have confidence in your plan even during the darkest of days. We are here to help you manage risk and opportunity as carefully and comfortably as possible.
We are already entering the next phase of the pandemic and market mayhem. With unprecedented job losses, the markets will continue to be rocky and the way out of this may be long. But your life will go on whether you are retired or retiring, planning graduations, weddings, and reunions, raising children or enjoying grandchildren. There is joy to find every day if you are open to it. And it’s comforting to know that the whole world is in this together.
Protecting the planet is the annual charge of Earth Day. So we’re having a virtual meeting on April 22nd at noon, the 50th anniversary, to explore why investors may wish to consider aligning capital with sustainable value.
Bill Davis, Founder of Stance Capital, will share the evolution of responsible investing, the relationship between climate change and global pandemics, and will provide a framework for how investors can influence corporate behavior through their holdings. Please respond to the invitation below by email.
Additionally, I have selected the following for you:
- Fresh Journey Team Photo April 2020
- Coronavirus: 5 predictions for how the economy might recover
- Target-Date Fund limitations via Market Watch
- When can we go out again per the MIT Tech Review
- Working from home tips from Huff Post
Please take great care of your whole self; we all need to remain strong, healthy, and hopeful.
I want to thank the Journey team, Aimee Plouffe, Janice Swenor, and, Neil Collins, for their caring efforts as we sail these turbulent seas together. It takes a skilled crew.
I believe we will adapt and be stronger for this crisis. My heart is heavy for those who are no longer with us, and those suffering from illness or loss. I have infinite gratitude for all those on the front lines taking care of us every day.
Only now am I socially distant and as always, as close as a phone call.
I can’t wait to see you in person again.
Peggy McGillin, CFP®