You’ve seen the news online or on the news programs – The Corona Virus. My memory harkens to Black Monday in October of 1987. That day, I remember really well; because I had been into my financial services career been only three weeks. I can remember thinking to myself at that time, what did I get myself into.
As I write this blog, I am actually in a self-imposed, self-quarantine after returning home from a winter vacation to the Island of Sicily, which is a couple miles off the boot of the mainland of Italy. We decided to make this excursion last fall when I began pricing out winter get-a-ways to Hawaii. The flights were just as long, but the prices to be there were going to be about half. What’s not to love about that. When we arrived in Palermo, we thought that the coronavirus was just a China thing. Imagine our surprise when our plane was met by two security workers in red hazmat suits and thermo guns to read our temperatures from a distance. Yet, after this initial shock, we were on our way for the next several weeks to enjoy all Sicily had to offer – history, food and wine. It wasn’t until the return flight did the news begin to escalate on the rampant increase in Italy’s corona cases. In fact, we literally got out of the country before it was pretty much shut down.
According to the CDC, the wise thing to do upon an arrival home was to self-quarantine for fourteen days. We’re feeling fine and are both working from home.
But, here’s the thing, it’s always something. The market, as is life, is not a straight line. Whether it’s Black Monday from 1987 or the Technology bubble from 1999 or planes purposely being flown into the twin towers in 2001 or the double-whammy of the credit crisis and stock market retreat of 2008 which help to cause the great recession; it’s always something.
The question is, are you prepared? Are you focusing on the end game or the day-to-day fears of what’s in the news right now at this very moment? Do you have a plan or is your plan a plan of reaction?
For the next week, I am still working virtually with clients. What does that mean? If you have an appointment at our office, I’ll be visiting with you by computer screen. I have a great staff that will assist with any paperwork. We’re all hands-on deck to do what needs to be done.
In the future, if you’re ill or if you just wish to keep healthy through social distancing, you can schedule an online appointment with my staff and I virtually right from your home. If you have a computer, you already have all you need to make it happen. Once a visit is set all we need to do is to send you a link. This isn’t new to us. We have actually been working with clients throughout the country for years. This is just an additional unique service most advisors are just considering adding to their practice.
During these difficult times, reach out to us with any questions and concerns you may have.
And here’s just one last suggestion, like your mother always told you – Wash your hands and cover your mouth.
Thank-you and be well.
[This information has been gathered from sources believed to be reliable, but Brooklight Place Securities, Inc. cannot guarantee the accuracy of this information or the reliability of these sources. This information in this Blog is not intended as legal or tax advice, consult your attorney or tax advisor regarding such matters.]