March 24, 2020
Many people are shocked at how quickly their economic fortunes have changed with the market crash and closing of some businesses. The stock market has declined at a historic clip. Many people’s income has gone down or stopped. And the damage may continue for some time until normalcy comes back.
So how do we focus on what we can control in the aftermath of all this shock? Understandably most of us are not in the mood to make many adjustments while still coming to terms with recent events. But we may need to make financial changes. My recent blog “Magnitude Matters” suggests tackling bigger ticket items, even when dealing with small concrete items, feels easier and more manageable.