Reflections on a Pandemic
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The pandemic has profoundly changed our lives, sometimes in unexpected ways. I wanted to share some of my personal experiences with you in the hope you might find them useful.
Fragility and perspective
The pandemic brought home the fragility of our lives. It seemed like everything was going great and then – in an instant – the world was on the brink of devastation.
If there ever was a time when good financial advice proved its value, this is it. Investors in an appropriate asset allocation, who “stayed in their seats” have been fine – financially.
Yet no amount of financial planning could prepare us for the emotional trauma of COVID-19, with all the uncertainty it brought.
Our personal planning (and I suspect many of your clients feel similarly) went from the theoretical to the practical. We wondered how our heirs would cope in the event we both died within a short time of each other. This is our new reality. We’re in the demographic of those likely to suffer serious complications if we are infected.