It's time to ask this question. Every one of us.
How many times have you said to yourself: when this pandemic is over, I’m going to [fill in the blank]?
Speaking only for myself, I asked this a lot more over the spring and summer and seemingly less in the fall. From a self-observation view, when my kids went back to school on a semi-remote basis and had to wear masks every day, a new normal started to settle in. Before this, I was fighting tooth and nail in my refusal to accept that so many things in my life were taken away from me. All of us went through this.
Not to say my optimism about life after pandemic went away, but it was easier to adapt to get through the day than to have false hope of a near term end to the pandemic. Acceptance is the fifth and final stage of grief, by the way. It’s the last step in the healing process after suffering a traumatic event.
And while the pandemic is raging more than ever, the news a morbid stream of rising hospitalizations and much worse, we suddenly have real, highly effective Covid vaccines. Pfizer, Moderna, and AstraZeneca have already announced their late stage trial results and at least two more major drug companies are close to announcing their drug trial results. Broad vaccine distribution is literally only a few months away, starting with healthcare workers and those considered most at risk of complications from Covid.
But the valley between now and then will be perilous because Covid is so rampant across the USA. A celebration that the end of the pandemic is within view, at least as we know it, would be callous. In my view, anyway.
The U.S. economy is seeing many regions shutdown again too, in order to slow the spread of the virus. But as I’ve often repeated here and in my social media content, I expect stocks to avoid much more than a 10% correction because investors are focused on the other side of the valley. Why sell now if vaccines and warmer weather in the spring will usher in an economic recovery? Plus, we should see more economic stimulus while The Federal Reserve remains super accommodative. Forget selling. It’s all about buying the dips.
Back to the subject at hand; what will you do when the pandemic is over? What will you do differently? It really is time to ask, now that the vaccines are coming. Will you hug your family and friends a little tighter every time you see them? Oh my God I miss the hugs!
Will you give yourself more slack in following your financial plans because life could be short? Will you be a hyper saver because your finances took a major hit from the pandemic? Are there things from your pre-pandemic life that you will drop? Maybe you discovered things about yourself that you are happy about. Maybe you found ways of doing things that bring you joy. I’m pondering these questions. Deeply. Constantly.
The pandemic has taken so much from us. By the time we do have broad vaccine distribution, it will be over a year since it really became news; same week as the last Super Bowl. But all around me, I see how my friends have adapted. Pivoted. They rediscovered, or plain ol’ discovered for the first time, the joy of spending more time with their immediate family. Of finding new hobbies or rediscovering old hobbies. Reconnecting with nature. Cutting out lengthy commutes to work. Getting back in touch with themselves. I saw friends pick up the guitar after a multi-decade hiatus.
I tell my kids that when you get older, being happy takes more effort. You have to push away money stress, health stress, and other stresses, so that you could enjoy the moment. Stop and smell the roses. I find myself saying the same thing to friends when they call me because they’re feeling a little down. I always get such positive feedback from them when I say this to them. And sometimes I need a reminder too. Adopt an attitude of gratitude. Very cliché, but very true.
Here's to thankfulness for self-discovery, rediscovery, and the opportunity to look forward to a different journey than what we expected. We all have the opportunity to take this time to reshape our destiny. I think that's amazing.
Happy Thanksgiving,
Mitch