What We Have Learned During This Year’s Crisis

I’ve always been trained by my mentor, father, and other coaches to “never let a crisis go to waste”, meaning we must reflect and find new lessons learned to help guide us forward for our clients, families, and future events.  Otherwise, what a shame to fast forward and keep your head in the sand (or under your desk) and miss out on some powerful growth opportunities.

That being said, here are some of those thoughts and lessons that I’ve gathered the past few weeks (several simply reiterated) I wanted to share:

• The market can never be timed, as evidenced by a 34% drop in the S&P 500 in just 33 days, the fastest drop ever. Here we are today nearly back to where we started in record time!
• Declines of this size- not necessarily this speed- are as common as dirt
• We never know how the market crisis will end, but history shows us that they WILL end
• Equities remain the only way most of us will ever achieve our goals (look at bond and CD rates now, near zero!)
• Optimism remains the only realism. Without hope and moving forward, we are paralyzed and a victim of fear.
• Wealth, properly managed, ought to function as a river, widening and deepening as it falls down through generations. Our job as wealth managers is to help grow and preserve the legacy you have worked hard to build.

I could go on and on, but for now, I’ll stop there for the simple reason we are all busy and the longer emails I send, the less people will start or finish reading! 😊 If some of the quotes look familiar… you can tell we’re fans of Nick Murray!

As always we are here to help and educate in areas we can!

Past performance does not guarantee future results. Investing involves risk and you may incur a profit or loss regardless of strategy selected. The S&P 500 is an unmanaged index of 500 widely held stocks that’s generally considered representative of the U.S. stock market. You cannot invest directly in any index.