Today we awaken to a changed world. An uncertain world. And dare I say it, a world of possibility. We haven’t received a single worried client call through this crisis, yet clients have reached out asking how we are — which is a testament to the fortitude and kindness of our clients. We cherish each one of you!
I’m writing today to say that we’re here. Please call if you need us. I’m not on vacation in Africa, as originally planned (thank goodness!). Alice, Henry and I are right here in the office, available to you through this challenging and disorienting period. We’re fortunate to be able to control our environment, keeping it sanitized and low-traffic. It’s perfectly suited to times like this. Moreover, we have the ability to work from home if we need or want to.
Here are some things I learned in the Great Recession, which are applicable now:
- You can try to anticipate investment markets, but ultimately, that time is wasted. Uncertainty is what it is, uncertainty. Even the best research out there can only come with probabilities.
- Times of change can represent opportunities. Rather than obsessing about what might go wrong, we are better served and motivated by focusing on the intersection of what we have control over and what is important. With extra time on our hands, we can get that estate plan done, do our taxes (ugh), work on that book, learn a new skill, reach out to loved ones, or reinvent our businesses and our lives.
- Focus on self-care and emotional health. Exercise, meditation, extra sleep, eating well are obvious choices.
- Finding ways to help others. Honestly, I’d be at a loss if I didn’t have my clients to care for. My work gives me meaning and purpose. Your local communities need you. Can you take food to an elderly person? Volunteer on a help line? Help out with your unique expertise?
- Cut down on your consumption of news. Our brains and our emotions need rest. It’s so easy to get caught up in endlessly scrolling through our feeds on our phones and pads. We have to build relaxation response muscles.
- Just keep showing up and doing what you can, day by day, whether at work, at home, or in relationships. One foot in front of the other. Things will get better. Sooner or later, government, local and private efforts will begin to bear fruit, and the prevalent mindset will shift. At that point, markets and the economy will begin to improve. It may take awhile, but it can happen fast. Will you be ready?
Whatever you want your life to look like, we’re here to help you create it. Many days will just require patience. But at times, there will be opportunities. We’ll be writing to you about that, soon.
— Peter W. Johnson, Jr.