What can I say about COVID-19, the Coronavirus, that hasn’t already been said? The economy has nearly grinded to a halt, markets have declined steeply, and people are left to wonder how this all plays out. Meanwhile, we’re sitting in our homes trying to be patient, while quietly battling anxiety and loneliness. The only solace, it seems, is to be reminded that we’re all in this together. We’re uniquely unified now, only in a type of ‘suffering’ that looks a lot like that vacation from the stresses of daily life that we dreamed of not so long ago. It’s a strange thing, this pandemic.
From a financial perspective, the retirement plans that we build are built for this. A solid and successful retirement plan includes an income strategy that keeps checks rolling in each month so you can pay your bills without concern for the decline in the present value of the stock market threatening your lifestyle. Sure, the market’s woes are painful to us all, but they shouldn’t force a retiree back to work. Using a combination of social security, a pension if you have one, guaranteed annuity income, and income from stocks dividends and bond interest, a retiree can weather the storm in the stock market. If that’s what you have in-place, take a deep breath. If that’s what you would like to put into place, contact us.
One thing we’ve discovered in the midst of all this social distancing and quarantining is how effective virtual meetings can be. While we’d prefer to sit at the same table as you, enjoying a cup of coffee, this unique time has allowed us to learn how great you look on camera! The webcam on your phone or computer has given us a means by which to continue face-to-face discussions in a way that we’re excited about. We use a software called Zoom to allow us to send you a link via email that you click on and connect with us from the safety of your home. It’s really easy and kind of fun.
While the current moment in history is not one we’ll soon forget, we must also remember the fundamentals of successful retirement planning. If we stay committed to the plans we’ve built, we’ll see this through and be even stronger on the other side. While it’s easy to say, “this too shall pass”, it will. You know this intellectually but may continue to struggle with it emotionally. As least that’s how I feel. My thinking can be clear while my heart still races and feels the weight of the uncertainty. I wonder if you feel that too.
As we continue through this challenging time together, please consider leaning on us. We’re committed to serving you through this and will continue to make ourselves available for you, whether it’s through Zoom, email, phone calls, or smoke signals, whichever you’d prefer. We wish for you to remain safe and healthy, both physically and mentally. We can share a discussion over a cup of coffee soon enough. Until then, be well.