Middle of March Update

Our Thoughts on the Current situation:

Well, it’s been an interesting few weeks!  We have seen some of the largest (some history making) single day moves in the market—- both UP and DOWN.    I had a few things I wanted to share with you now that I’ve had a chance to catch my breath over this past weekend. 

• I don’t know what the market will do in the very short term. Anyone who says they know is not being honest. 
  
• I don’t know what exactly is going to happen with this virus.   Anyone who says they know is not being honest. 
  
• I think people should prepare for the possibility that we may have some sort of quarantine.  Whether the government mandates something or it’s just the result of businesses, events, individuals and social gathering spots wanting to be cautious.  
  

…This leads me to a couple of “Financial 101” points for your consideration. Do you have an emergency fund??  3-6 months of expenses is what I’m always preaching.   If you have some interruption in employment, that’s why we have the emergency fund!!——- Do we need to make some of your investments more readily available to help you fund that?      —— Do you have enough canned goods/frozen food, basic medicine, etc. to get you through a couple of weeks of staying at home??  If not, it might make sense to do so...just in case?  We should all consider taking a few extra common-sense precautions, but not panic.  That won’t help at all.

• Are a good portion of your goals, dreams, and ambitions long term?  Will you need money for retirement, travel, funding a college education, leaving a legacy, etc...5, 10, 20, or even 30 years from now?  If so, we shouldn’t make impulse decisions on our investments with short term information and panicked headlines.  Markets are a lot like the seasons.  Clearly, this is a harsh winter season, BUT I wouldn’t throw away my shorts and flip flops just because we may have a few more weeks of winter. Good quality and well diversified portfolios are built to weather the seasons.   We’ve worked diligently with each of you to construct individualized portfolios that are well suited for you, your family, and your situation and to the best of our ability have prepared for these changing seasons. 
  
• Let’s talk.  My team and I are putting in overtime right now... we are always available and strive to maintain consistent contact during these challenging times. If you need ANYTHING from us before we contact you...call us!!
  
• Lastly, if you have friends or family who need some help during these interesting times, please let us know.  We don’t have all the answers...but we are right here with and for you...or them.  Having guided many individuals and clients through several of these seasons (2000-2002 Tech Bubble, 911 Terrorist Attacks, 2007-2009 Financial Crisis, etc.) we understand the concerns folks are having and are plenty equipped to deal with the situation at hand. 
  

I appreciate you and we take the trust you’ve placed with us seriously. Remember—- Buy low, Sell high. 

Talk to you soon--

Keith

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