Part of what makes the coronavirus pandemic so stressful is how dramatically it has upended our sense of overall well-being. The most serious global health crisis in more than a century is also causing widespread economic trauma as businesses shut down, millions of workers go unemployed, and financial markets reel.
Despite COVID-19’s unprecedented impact on multiple aspects of day-to-day life, we don’t have to let it stop us from taking care of ourselves and others. Many of the same basic ways that we manage our physical, mental, and emotional health during stressful times can also help us keep a healthy outlook on our finances.
When current events start knocking your wellness out of balance, you can use these techniques to regain control of both your physical and financial health:
We’ve built Mercer Advisors on a foundation of empowering people to manage their financial well-being and achieve Economic FreedomTM. In every season, we start by helping clients establish a written, long-term financial plan that can withstand market volatility and other unexpected setbacks like those brought on by COVID-19.
During this crisis, we want our clients to have reliable guidance on staying physically and financially safe. Find updates on how the coronavirus pandemic is affecting financial markets and our recommendations here.
“It’s been important for me to stay active,” says Dane Sauer, a Mercer Advisors financial planner based in Dallas, Texas. “With all the gyms shut down, I’ve had to get creative—whether it’s doing something inside my home or going for a run outside.”
Dane adds, “I’ve always believed in the value that we as financial advisors provide to our clients, but I think it’s multiplied in times of crisis. This experience has really validated why I got into the profession: to help other people and put their interests ahead of my own.”
“I have been so impressed by how people are working hard to take care of each other. When I hear stories from clients about how they are giving to charitable organizations or their personal efforts, or my own neighborhood group helping elderly neighbors during this time, it is very inspiring,” says Kara Duckworth, an advisor at Mercer Advisors based in Newport Beach, CA.
Kara adds, “As advisors, we are digesting the newest market, stimulus, financial planning, tax and estate planning information that is rapidly changing from day to day and working to apply this to client’s long-term plans. It has helped me, at the end of each workday to step away from my computer screen and take a few minutes to be grateful.”
“My four year-old loves to point out all the rainbows painted in our neighbors’ windows when we get out for fresh air in the evenings. We talk about hope and gratitude and what he is thankful for,” says Jessica Caruso, branch manager for the San Francisco Mercer Advisors office.
Jessica adds, “In the midst of so much stress and uncertainty, I am thankful for extra time with my family, our health, and a career that I love.”
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