What do we really need? In our church small group meeting last night (zoom version), that was the revelation that 2020 has delivered to many of us. With so many things taken away or postponed in 2020, it begs the question of what do we really need? What do we need to stay safe and secure? need to be content? need to be satisfied? need to be happy? Many of us have probably realized we need less; less extracurricular activities, less dining out at restaurants, less clutter in the garage and less clutter in our schedules. I greatly miss many of these things, especially quality face to face time with friends and family, but I’ve heard a great many people admit that 2020 has forced them to refocus on the things they truly need. As you can read in this week’s Weekly Market Review, many are realizing they don’t need to live in a big city any longer. The shifts occurring in 2020, spear-headed by the virus, are very interesting and some will most likely be long-lasting.
Do you have a living will? According to Notable Number 3, most people do not. Just like toilet paper, bikes, RVs, and fishing tackle, the concerns of 2020 should make you seek something you may be lacking…estate planning. It is critical to make sure your legal house is in order. When helping grieving families sort through the financials, I’ve witnessed both. Believe me, you want to leave your estate properly planned vs. unplanned - the difference, for those left behind to deal with it, is incredible. I once heard a preacher say, the most thoughtful gift you can leave for your family is a good and complete estate plan. I agree with him.
Wishing you good health and happiness.
As always, we hope you find the Weekly Market Review both interesting and informative.
Trevor N. Coe, CFP®