With four more months left in 2020, we will likely see a lot more volatility as we head into election season and continue to work through dealing with COVID-19. Our mission is to help you preserve your assets and protect your lifestyle. While we cannot control what happens in the future, we can help educate you, plan, and provide thoughtful investment management that is focused on you and your goals.  In this month’s newsletter, we provide some interesting market perspectives from our partners at Astor Dynamic Allocation. We also discuss my journey with COVID-19, and provide a great article to help you as you start thinking about tax planning for 2021. 

This Is Life - COVID-19 and Me

Clearly, COVID-19 is at the forefront of everyone’s thoughts and concerns. In the vast majority of the conversations I have experienced over the last few months, very few people I spoke to directly knew of anyone who had contracted the virus. There was part of me that wondered why? Is it as serious as one hears in the media? Is it being used as the proverbial “political football” of this election?  Do we truly need to wear face masks? Well…..that personally changed three weeks ago for me as I walked off a golf course.

I felt a little soreness in my muscles. Nothing unusual or out of the norm. There have been many times I headed home, soaked in the hot tub, and took a couple of Tylenol for the pain. Problem solved!  But this time….because of the almighty COVID-19 environment….I decided to take a trip to the Urgent Care for testing. Two days later I got the news I tested positive. Finally,  I directly knew someone who caught “it” ………. Me!

My journey lasted about 15 days.  The first seven days of having the virus in my body seemed like the run of the mill flu: a little achiness, mild fever (never over 101 degrees), and I was able to function. Granted, functioning in self- isolation in my bedroom was a little claustrophobic, but the responsible thing to do.  I now know every square inch of my bedroom from self-isolating from my three boys. Yes… every square inch!

On day 8, my symptoms worsened enough for me to feel a trip to the ER was needed. If you want fast service, just tell someone you have tested positive for COVID ….. ; ) I was given antibiotics and liquids intravenously. The ER doctor at my HMO told me to rest and that I should weather the “virus.” He also gave me an antibiotic, cough medicine with codeine, and a generic Tylenol. There were signs on my lungs of pneumonia. Clearly, the treatment was designed to keep me comfortable as I worked through having the virus.

Days 9, 10, and 11 were entirely different. I felt like I had been hit by a “truck”:  difficulty breathing, unable to eat, slight diarrhea, very weak, and unable to stand.  My fever oddly never rose, and I never experienced any change to my taste buds. I cannot remember feeling so sick. I would be dishonest if I did not share with you that I was a little concerned, but I continued self-isolating, drinking liquids, and forcing myself to eat.

For myself, day 12 was the turning point! On the 12th day of my COVID journey, it was remarkable how quickly I improved. I stayed in bed, my breathing strengthened, and my concern over having COVID declined.

A few days later, I tested negative, and approximately three weeks after my initial trip to Urgent Care, I tested positive for the antibody. I have 0+ blood, and this makes the “stuff” running through my veins valuable. I plan to provide plasma this week in hopes it helps in the development of a vaccine.

My experience is unique to me. But if I have learned a piece of good advice, if you think you have it, or something about your body is out of the norm, get tested immediately, and come up with a course of treatment that fits “YOU.”

In retrospect, my ability to handle COVID was having a “plan” and “structure” in place that allowed me to rest and heal. My “plan”  for running our business was the team and structure we created to take care of our clients at GFP. Never thought it would have a direct impact on myself personally, but very grateful for how we function as professionals at the firm you have entrusted to handle your personal goals and life objectives. I genuinely believe I recovered well because I was able to not worry about whether clients were in good hands. Partners like Hung and Casey matter and our partnership with Schwab is priceless.

Being prepared for the unforeseen and unplanned can help in many of the facets we have in our lives. This experience has reinforced the importance of planning.  You have a team at GFP that is always here for you. We have the expertise to help you alleviate and think through the unforeseen in you and your family’s future. It is impossible to cover everything, but we certainly can alleviate some of your questions through our process; we call it True Financial Planning. Here is a list of topics we cover. Click here.

Market Update- Comments from Astor Dynamic Allocation

The markets have obviously been volatile this year. With the onset of COVID-19 in March, we saw a major decline. Only to see a rebound the past couple of months with markets entering positive territory for the year. Many people we speak to wonder where we are headed next? While no one knows for sure we wanted to highlight one of our tactical managers, Astor Dynamic Allocation most recent commentary.

"COVID-19 has dominated news headlines, market movements, and economic activity for the past 4 months. It’s important to remember that before COVID-19 was the singular focus, there was an escalating trade war with China, Europe was/is on the brink of a recession, and the political tensions in the United States were rising, amongst other points of geopolitical concern. At Astor, we often discuss a rather simple formula: A weak economy + a ‘shock’ to the system = rising probability of a recession.

The Federal Reserve’s response to shore up businesses and the economy are applauded and has definitely worked thus far. It is very important for investors to understand that the U.S. economy has not recovered and is absolutely still in very fragile shape. We believe taking the appropriate amount of risk given the current state of the U.S. economy is very prudent at this point in the economic cycle."  

If you are nervous about the markets or you would like a review of your portfolio, please contact us anytime. We can perform a risk assessment and review of your financial plan. 

10 Ways Your Taxes Will Change in 2021

We know April 15, 2021, may feel a long time away, however, these final months of 2020 are when you should start thinking about your tax planning. We found a great article to get you started the topic. Please click here to view 10 Ways Your Taxes Will Change in 2021.

We are here to help and offer objective advice. If you would like to discuss any of these topics or any questions relating to financial planning and/or our view of the markets, please click below and pick a time on our calendar. Click here to view our calendar.