Market History for COVID-19

Under the Cloud of the Coronavirus:
Control What You Can Control

With age comes experience. We have seen our share of great times and bad times. These experiences
have definitely shaped our perspective as fathers, husbands, and wealth advisors.

Many of our clients have heard us talk often about “Wealth management – it’s not just money. It includes
values, traditions, knowledge, memories, and so much more.” So, we ask: Are you happy with your
work, how you spend your time, the quality of your relationships? Is the way you are living and spending
your money consistent with your values and goals for a good life? We also like to say: Together, let’s
make your money make a difference.

We focus on the quality of our lives because we cannot predict the future. Most of us will live long lives,
some may pass away sooner, and all of us will face challenges along the way, but the point is that we
should make the best of every day so that our regrets are minimized even if our dance on earth ends way
too soon.

Wealth planning has traditionally focused on investing and planning for retirement. But that focus should
also include the present. Financial planning is also about creating a better life today while, at the same
time, providing resiliency for handling whatever life throws at us down the road. This has long been our
approach in the work that we do for our clients. We’ve spent a combined 50+ years advocating for real
people with real fears, hopes, and dreams. We’ve received great personal gratification as a result.

So, what about today? The current events are concerning to say the least.

On the financial side, clients have a plan, a discipline, emergency funds, they understand their cash flow
needs, they know that their estate plan and insurance are up to snuff, and they are invested in an asset
allocation that takes into account the ability to take risk in exchange for suitable rewards. They are
prepared to weather this current upheaval. They have controlled what they can control.

Yes, the market is crazy right now and there are many unknowns. Clients who were with us in the scary
times of 2000/2003, 2008/2009, 2015/2016 and as recently as the winter of 2018, remember the pain well
and they understand the importance of not taking undue risk. We encouraged them to keep spending as
they had been, because uncertain times are baked into their plan and their investments. And they did, and
they are fine to this day.

So, for our newer clients who haven’t been through this before – try not to worry about the things you
can’t control. We’ve already applied controls for the amount of risk you are taking, so you are going to be

On the health side, stay safe. Practice “social distancing” for the time being. Plan efficient shopping trips
for the foods, medications, and essentials that you need so that you can minimize the need to be in
crowds. Be a considerate shopper. Of course, everyone knows to wash their hands frequently and self-
quarantine if you are ill.

How is Glenwood Financial Partners prepared? We have the ability to work remotely, and we are
available to you 24/7/365. In addition to our own knowledge, experience, and thirst for learning, we have
developed and engaged numerous resources and strategic alliances to help us continually work on our
clients’ behalf, including strong custodians of your assets such as Raymond James and Schwab, and other
research firms, private banks, financial institutions, trust companies, attorneys, and CPAs.

We are here for you, and we consider each other and our clients as a family – we’ll get through the
coronavirus outbreak and we still believe the future is bright.

Let us know what is on your mind and anything else we can do to help ease your worry minutes.

Sincerely and with great appreciation,

Rick McElroy    Michael Hakerem

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