October 19, 2020
Dear Client Family and Friends,
We are 7 months in from when most of us dramatically changed our lives because of the Coronavirus Pandemic. I pray that you have adapted well to your changing reality and that all the people you love are safe and well. Gratefully, we are all well and still working remotely for the most part. We are, however, considering plans to gradually reopen the office. Time will tell.
I think “exhausted” could describe how many of us are feeling right now and that most of us are looking forward to more “normalcy” in 2021 with the hope of a proven vaccine that is readily available and therapeutics that can be used successfully to help those who test positive for the virus to recover quickly.
Despite COVID-19 – life moves on. The election is about 2 weeks away and the political rhetoric has hit crescendo levels. I don’t know about you, but I will be happy when the election is behind us. Nevertheless, I’ve received a few questions related to the election so I’m attaching a piece from American Funds about how elections move the markets. I hope you find it of interest. And I’d be remiss if I didn’t encourage you to vote.
I’ve said it before, and it bears repeating. Don’t let current news events – good, bad, or indifferent – dictate your long-term financial strategy. I understand you want to know what is going on in the world, but a steady diet of noise – breaking news, financial data, differences in opinion (politically and economically), and a bouncing stock market – creates an environment ripe for making mistakes that can result in lower long-term returns and disappointing financial plans. A great way to minimize the noise might be to limit your “device” time. That may seem impossible in this working remotely world, but I think it may be an essential prescription for the sake of our physical, emotional, and financial wellbeing.
As always, please remember, you only have 168 hours to live your life this and every week. Spend your 168 hours doing the things that only you can do – the things that are really important to you. Spend more time with the people you love. (And tell them you love them, too.) Do activities to help improve your health and fitness and spiritual life. Engage in activities that give joy to others (and see how much you benefit, too). Laugh out loud. Express your creativity. Play a game. Take a friend to lunch, even if it is via Zoom. Donate your time to a worthy charity. Change your routine. Live a high-performance life!
If you have any questions or concerns, please reach out to me or Danielle (954-983-5600 ext. 154).
Stay physically distanced but socially connected. Stay safe and be well.
Gratefully,
Luana
Luana Mobley Corral, CFP®, CFS™, CLTC™, BFA™
Click here for a copy of the article: How Elections Move Markets in Five Charts