A Crisis Is A Terrible Thing to Waste

I’ve been reading a book called, “The Road Less Stupid” by Keith J. Cunningham and the title of this blog is taken from one of his chapters. When I turned the page and saw those words, I had to stop for a minute to process how the words made me feel. I don’t like the word “crisis”, because it represents a time of intense difficulty, trouble or danger. I mean, who likes trouble or difficulty – especially if it’s intense?

As much as I hate to admit it, the current situation with the Coronavirus feels like a crisis. There’s been a lot of uncertainty, both medically and economically. But, while I’m not sure how long this period will last in terms of depth (number of virus cases) or duration (amount of time until we’re able to get out and about like normal again,) I am sure that it will end.


The question I’m asking myself now is, “What am I learning from this?”

So far, I’m learning a lot. Here are just a few of my observations:

  • My family is resilient. My wife, Trish, has kept everyone in our home on track and all of our boys have adjusted to online school with minimal complaints.
  • Our team is flexible. The way they’ve adapted to continue serving you without interruption has been awesome to be a part of.
  • Our clients are amazing people – checking in on us and one another with many serving in the local medical facilities.
  • There is no amount of “stuff” that can take the place of people. I have plenty of things in my home, but they don’t make up for the people I don’t get to physically spend time with.
  • I take a lot for granted. See all of the above 😉


I’ve spoken to some clients who have learned that they:

  • Feel comfortable with some cash in the bank.
  • Didn’t have as much tolerance for risk as they thought – which is totally understandable (that’s why we design our Signature Life Plans to help you achieve your goals with as little risk as possible).
  • Need a financial plan, so that they can have some measure of confidence in trying times.


Whether it’s about you personally or about you as an investor, what are you learning from this crisis?

It’s been said that we continue to receive lessons over and over again until we learn from them. We’re all working our way through this current crisis, and while I hope we never see another virus like this, it won’t be the last time that we will face a crisis together as a society.  I encourage you to make notes of the things you’re learning about yourself as a person and about yourself as an investor, in the midst of all the chaos. We’ll overcome the crisis – but let’s not waste it!





Opinions expressed in the article are those of the author and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Shares acquired via an exercise of employee stock options are subject to resale restrictions. Restricted stock is nontransferable and must be traded in compliance with special Securities and Exchange Commission (SEC) regulations. Holding stocks for the long-term does not insure a profitable outcome. Investing in stocks always involves risk, including the possibility of losing one’s entire investment.
While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

About Chip Munn

Managing Partner, SWS Senior Wealth Advisor, RJFS Chip is a Magna Cum Laude graduate of Clemson University, where he earned a degree in education and was selected as an Academic All American by USA Today. He began his career in finance as a financial consultant with Wheat First Union in 1998. He specializes in retirement and education planning and the transfer of wealth among generations. Chip lives in Florence with his family. Follow Chip on LinkedIn.