In this week's Arista Advice, Paul L. Moffat of Arista Wealth Management provides 5 tips to help you with the COVID-19 (Coronavirus).
Welcome to Arista Advice. Hope you’re well and having a good week.
In light of all of the world events that are swirling around us with COVID-19, I want to share with you five tips on how to deal with COVID-19.
Number one – don’t go down the rabbit hole of blame. Hindsight is 20/20. Focus on the positive, and avoid the should’ve, could’ve, would’ve. When this flu passes and this pandemic is over, there are certainly things that all of us have learned from that we can improve on in our personal and family lives.
Number two – recognize the time that you’re spending on media consumption. Avoid falling into the 24/7 news cycle, that is a very vicious news cycle filled with advertisements and sometimes inaccurate information. Too much of a good thing can be a bad thing.
Number three – set smart routines. If you’re homebound and working from home, there are things that you can do to create structure while you’re now working from home and staying home.
Number four – utilize technology. Avoid crowds and large groups and what is being told to us by government agencies and health officials, but use technology to call or text someone that you’ve not spoken to and lift their spirits and do something kind by reaching out to more people.
And number five – assume the long-term view. In the 2001 dot-com bubble, the market dropped precipitously and in a very rapid time like we’re seeing right now. A client back then who was running multiple businesses gave me some advice I’ve never forgotten as a young professional, and he said “Paul, the current situation is never as bad as you think. It never lasts as long as you think, and the future is better than you think.”
May we remember these five tips of don’t go down the rabbit hole, recognize time spent on media, set smart routines, utilize technology, and assume the long-term view. I know if we utilize these five tips we will all learn from this and months, and quarters, and years down the road we will look back, and we’ll have learned some great lessons from this current event.
Hope you’re well. Have a great day, and we look forward to talking to you soon.