Published by Kerry Meath-Sinkin
I just got a call from a family member who wanted to get hand sanitizer, found out it was out, looked up how to make their own, and ended up buying a small bottle of rubbing alcohol for over 20 dollars, AND it was almost sold out at those prices on amazon. People are scared, the markets are scared, and no one really knows exactly what to do.
I think about the implications of the virus both through my lens of being a financial adviser, and also through my public health and Ayurvedic medicine training. I find myself reading about the virus, hoping for some nugget that will protect me, but the reality is that no one has answers right now. When I think about my family and traveling, I go from thinking it’s not a big deal and we shouldn’t worry, to feeling nervous and scared. But when I think about the markets and take a step back, I understand that these kinds of events happen and it is good to not overreact. Ironically this not only keeps me moderated for investments it also reminds me to take a step back personally and to follow sound principles that I know from times when I am not stressed or overwhelmed.
All of this is to say your anxiety might be high, you might be feeling more stressed, and less settled in different areas of your life from your health to your wealth.
First, step back, take a deep breath…. Breathe all the way down to your belly…
When you are breathing shallow into your chest you are in your fight or flight response. When you start to get into your belly, or your core, you start to move into the rest and relax response, which is where you want to live most of the time. If you want to learn more tips to help yourself lower anxiety, check out my blog here.
From the financial side, a well-grounded plan for both your long and short-term investments makes a huge difference. Now is not the time to act without sound investment principles or to react purely from fear. Volatility is not new to the markets, we have gone through plenty of ups and downs in the last few decades. If you have a plan in place for yourself, and understand your time frame for given investments, riding the waves gets easier. Where a lot of people go wrong is, they make knee jerk reactions bred out of fear during times like this, instead of going back to planning principles. Click here for some recent thoughts from my Dad, and here for some other key points to keep in mind around the markets.
It’s normal to be scared and anxious, but like everything planning and good self-care helps. As always, thank you so much for reading.
Love and blessings,
Kerry Meath-Sinkin, CFP®AIF®, is a wealth advisor based in Minneapolis. She graduated with honors from Brown University, and works with clients in the Twin cities and nationwide. Kerry believes in a holistic approach to finance. Kerry also has a passion for healthy living, is a certified Ayurvedic practitioner, and public health educator. Click here to learn more about Kerry.