| | | | |

Is This March Madness?

You hear from me usually every Friday… but have I ever asked

“Are out of toilet paper?”

If you have not seen the store, there is a run-on toilet paper.

This is March Madness.

We are no longer in a bull market.

US stocks are down 20%+ from their highs… which by the “official” definition, snaps their longest-winning streak in history.

The news coming out today about the coronavirus is surreal…

 

The NBA, MLB, NHL all just postponed its season

March Madness aka College Basketball Championship has been canceled.

Grocery stores are emptying out…

Concerts, festivals, and conferences across the world are being canceled.

No inviting 501 of your closet friends to dinner in NYC or going to Broadway for a show.

And several cities, including Seattle, look like ghost towns after being put on “lockdown.”

Every time you turn around something else has been canceled or closed.

It leaves you with the feeling of what’s next.

And yes, they canceled the Kenny Chesney concert today.  (I heard Tina UGH all the way back in my office)

If you’re feeling nervous or flat out scared, you’re not alone.

But as novel as the novel coronavirus is, there is nothing new about trouble and challenge.  The future always presents us with uncertainty.  In the last 100+ years, we have had World War I accompanied by the Spanish Influenza of 1918/19, followed a decade later by the Great Depression.  Then the destructive World War causing a change that lasted until the fall of the Berlin Wall.

Followed up in more recent times by the dot.com crash and the 2008 Financial Crisis.

Despite all the depressive thoughts it is more important than ever to stick to our risk management policies and our plans.

You have to be disciplined in times like this.

Everyone’s situation is different and impacts us in our own way.  If you have a question about what you need to be doing in this crisis or want to understand more about how we manage and our approach to risk then give me a call.

Or if you want to talk about your personal account.

214-239-4700

Michael Tannery CPA CDFA® AIF® ● CEO
Registered Principal | Tannery & Company

Subscribe here to our weekly blog

Be A Financial Olympian™

Similar Posts

  • |

    Wasted Time

    What is wasted time?
    Unscheduled, unplanned time doing the simple things of life
    As kids out summers were spent riding our bikes, playing in the creek or playing any game we could make up. All of this was outside and required very little parental supervision.
    Ain’t it funny how the best days of my life was all that wasted time
    – lyric from Keith Urban’s song – Wasted Time
    Today, I observe adults and children over scheduled with activities and over connected with every electronic device possible. Wasted time is where creativity is created.
    We are the “Attachment Generation”.
    Based on my observation about us becoming the “Attachement Generation”, I began to pose this question to friends and clients in my conversations.
    “What is your daily routine and how connected are you”.
    The #1 answer was – immediately when I get up or I take my phone to bed with me.
    I would get the answers and ask my favorite question – why?
    Why do you have to keep your phone with you, even taking it to bed?
    Why do you immediately look at it when you wake up, no matter the time of the night?
    They answered with various reasons that attempted to make the attachment to their phone seem normal.
    This simple idea of not having your smart phone with you 365/24/7 caused people stress.
    “When people are so plugged into their devices around the clock, they often lose the ability to be fully present to themselves and to other people,” says Jeffrey Rossman, Ph.D., director of Life Management ar Canyon Ranch in Lenox, Massachusetts. “It negatively impacts our peace of mind and relationships with others.”
    When is the last time you had “Wasted Time?”
    If “I can’t remember” is your answer then you have become part of the Attachment Generation. It is time for a digital detox and some “Wasted Time”.
    Take my seven steps toward finding your Wasted Time.
    1. Let go of the phone – start with taking it out of the bed. Your phone needs to sleep in the other room, not in the bed or on the bedside table. I made this change and the results are positive. (the phone was on the bedside table)

    2. Don’t touch your phone for the first 30 minutes of your day. Let your mind and your body refresh from the night’s sleep.

    3. Eliminate all of the “push” notifications on your phone and your desktop. This also includes your watch. I see many people distracted and looking at their smart watch for the text notifications during a meeting. It is unprofessional and inconsiderate.

    4. Drive your car without looking at your phone at stop lights. (No texting should not even be mentioned)

    5. Stop using your phone to occupy all of your free time. If you are standing in line at the grocery store, it is Ok to let your mind be unoccupied.

    6. Meals are Digital Free.

    7. Plan some wasted time each day without a screen in front of you. That includes a TV. Go workout, take a walk or have a conversation with your spouse, your children or take a bottle of wine and go visit a neighbor. I prefer reds however a chilled white will work this summer.
    Be honest
    You probably use your smartphone way more than you should, but you’re far from alone. It’s addictive checking social media, playing games and of course just staring down at it when you’re in a socially awkward situation.
    Try either taking the Apps off your phone or try one of these six apps to break your addiction.
    Tell me about your results of finding your Wasted Time.

  • | | |

    I’ll Show You Mine, if You Show Me Yours

    According to Wikipedia, “I’ll show you mine if you show me yours”, is a game in which young children compare…. Well you know what I am talking about. “It is driven by curiosity and the thrill of breaking the taboo.” Just the title of the article either made you giggle or be slightly outraged. That…

  • | |

    Why is “The Bachelor” such a popular TV Show?

    Is it the ability to live in a fantasy world versus the reality that shows a record amount of unmarried adults today in their 20’s and early 30’s ? Today’s young men and women are independent, college educated, and unmarried versus earlier generations of American men and women in their age group. If the trends…