It’s hard to believe that its only been a few weeks since schools abruptly closed and the markets began their rapid descent. It is still unknown how much longer we will be hunkered down. For those of us in Dallas, we received news on Friday that our stay-at-home order has been extended until April 30th… for now.
Below are some of the lessons we have found useful during this time.
Take care of YOU – Put your oxygen mask on first!
Only then can you adequately take care of others. Keeping ourselves mentally and physically healthy is especially important during times of uncertainty. Not only do we feel better, but we also improve our ability to deal with stress.
Social interaction is important…even if it is 6 feet apart!
Virtual meetings and podcasts have really helped us stay in touch and maintain our sanity during this time. A new podcast that is quickly becoming a favorite is “Unlocking Us” by Brené Brown.
This one has a great message: Brené on Comparative Suffering, the 50/50 Myth, and Settling the Ball
Give yourself grace and focus on what matters most.
Nurturing the mental health of ourselves and those we love is especially important during this time. I recently heard about a message that one of our great teachers sent to her parents. Whether you have children of your own, the message is one we all want to remember as we navigate these stressful times.
"Don’t worry about them regressing in school. Every single kid is in this boat and they will all be ok. When we are back in the classroom, we will all course correct and meet them where they are. Teachers are experts at this! Don’t pick fights with your kids because they don’t want to do math. Don’t scream at your kids because they don’t follow the schedule. Don’t mandate two hours of learning time if they are resisting it.
If I can leave you with one thing it is this: at end of all of this, your kids’ mental health will be more important than their academic skills. And how they felt and were loved by you during this time will stay with them long after the memory of what they did during those four or more weeks is long gone. So keep that in mind, every single day."
Focus on what you can control.
Dwelling on things that we can’t control only increases anxiety. And as the markets have shown us of late, anxiety leads to fear, panic and increased volatility. Take a step back and be thankful for what we have. Let go of what is out of our control.
FINANCIAL HEALTH REMINDERS:
Opportunities surface during disruptive times.
It’s sometimes hard to see the silver lining during times of uncertainty. We may not know how the future will unfold, but we do know that we are resilient and we are survivors. When we look back, the opportunities that presented themselves will seem much more obvious – whether it’s investment opportunities or successful new careers.
Beware of unscrupulous opportunists.
Unfortunately, it’s not just good people who are looking for ways survive right now. Scammers are trolling for ways to defraud and cyber criminals are hard at work. Be cautious when looking at emails and be on high alert for fraudsters in search of unsuspecting victims. The IRS and Social Security office will never call you to ask for confidential information over the phone. During times of heightened feelings, our ability to think clearly and process information can become impaired.
We keep abreast of technical issues so you don’t have to.
Especially now, there are lots of legislative changes happening. We are happy to delve into details with you. Rest assured that we will be monitoring changes and bringing relevant provisions to your attention as warranted.
Stay healthy and safe,
The Paradigm Team
Paradigm Advisors is a fee-only financial planning firm based in Dallas, Texas and Fayetteville, Arkansas. Paradigm Advisors provides comprehensive financial planning and investment management services to help clients organize, grow and protect their wealth throughout life’s journey. Paradigm specializes in advising young professionals and entrepreneurs in the early stages of life and well-established career executives through financial planning and investment management. As a fee-only fiduciary and independent financial advisor, Paradigm never receives commission of any kind. Paradigm is legally bound by certification to provide unbiased and trustworthy financial advice.