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!