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(214) 239-4700 READ MICHAEL'S LATEST BLOG: Nineteen Years Later - September 11

It has been a month since I have written here.

A month that turned from Spring into Summer.

A month that has seen the green shoots of economic revival, and yet today, we are looking at a step backward as we play “Whack A Mole” with COVID-19.

A month closer to being normal?

In our conversations with our clients, no one is sure what normal is or will be.

What they do know is it will be different.

Five Ways to Invest in Your New Normal

  1. Pivot Don’t’ Panic – Jon Acuff said, “That’s what’s so interesting about a crisis; it’s always trying to teach you something you might not have learned voluntarily. “  We have seen clients take the crisis as an opportunity.  A specialty retail store that did not have an online store.  Today, one out of every three sales they have is from their online store.    Give the link a click and listen to Jon’s thoughts.

 

  1. Take care of yourself FIRST. All of us know what we need to be doing for our health.  With COVID-19, the pace has changed, and it has left us unsure without the daily routine of business and hurry up to wait.  Rethink your daily routine.  Working from home was always an option, yet today it is more the norm.  Reclaim those commuting hours for yourself.

 

  1. Give of yourself – Tina Tannery will tell you that her sister Gina is the baker in the family. Before being “sheltering in place” that would have been true.  However, with the help of a friend and her favorite new cookbook Dories Cookies, she has become amazing with her cookies and her new rolling pin.  What has she done with all the cookies she makes?  Tina gives them away to neighbors.  Everybody wins, and it is fantastic to find the cookie plates returned to our porch, awaiting the next batch.

 

  1. Clean house in 4 Steps – Not in the literal sense, although seeing some of your garages, you should be doing that as well. Clean your financial house.  Take the time to download a month’s transactions from all of your bank accounts and credit cards to a worksheet.  Add three columns and label them REQUIRED – OPTIONAL – LUXURY.

 

Step 1  – Go through the 30 days of transactions and put them into each category.

Step 2 –  Label each one of the transactions

Step 3 –  Review the OPTIONAL and LUXURY and ask, “Do I need this?

Step 4 – Total up the savings and use them to create a new financial goal.

 

  1. Plan your Bucket List – A bucket list (in case you did not know) is a list of things you want to do before you kick the bucket.  To me, the most important reason for having a bucket list is to achieve your goals ultimately.  Those memories will be the basis of a life that is meaningful, not for others, but yourself. Always remember, acquiring memories is still better than chasing material possessions.

Do, as Robin Williams said in Dead Poets Society, “Carpe diem. Seize the day, boys. Make your lives extraordinary.”

Ready for a great weekend, and in case you wondered, my favorite cookie is the lemon sugar cookies.

Got something on your mind or have a question?

All of this can occur even at a distance.

Call us 214-239-4700 or click to set up a ZOOM MEETING

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

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The opinions expressed in this material is for general informational purposes only and is not a substitute for professional advice.  Individual circumstances do vary.