Financially recovering in the aftermath
What a ride the first quarter of 2020 has been. While most everyone is eager to get back to business as usual, is it even possible, and with what terms?
As of lately many conversations are about loss jobs, losses in your investment portfolio and for some a softening of hope for building an investment portfolio has been on the minds of everyone.
While I tend to be an eternal optimist I do have a feeling of caution in present optimism. Will the rebound be easy? No. But what comes next will likely be very different than what reality looked like just two months ago. That doesn’t been you have to throw in the towel. Think about it: This is the time we get to re-invent ourselves! If you have been less than happy with your financial picture before this pandemic activity struck perhaps getting back to business as usual is not at all what you should be longing for. Perhaps it is time best suited for a change.
I woke to this song in my head.
Do you ever find yourself humming or singing a song that you can’t get out of your head? This morning I woke to the song “Radioactive” by Imagine Dragons, playing in my not-yet-awake mind. I have not heard this song for a few years, yet it popped into my head and I found myself singing it for hours: Why this song? Why now? Like most songs I only know a few of the words, but these words from the song is what I found myself singing. I paused and knew I had to share it with you. I found it radically profound:
“I'm waking up, I feel it in my bones
Enough to make my systems blow
Welcome to the new age, whoa, oh, oh, oh, I'm radioactive.
I'm breaking in, shaping up, then checking out on the prison bus
whoa, oh, oh, oh, I'm radioactive, radioactive
All systems go, the sun hasn't died
Deep in my bones, straight from inside
I'm waking up, I feel it in my bones
Enough to make my systems blow
Welcome to the new age, to the new age”
Good thing you could not hear me sing because (dammit!) my vocals are not pleasant, but that is a different topic. As I pondered the questions above I started feeling that as we are waking up to a new reality, we may never see what we believed to be “business as usual” again.
What are the meanings of the words in this song anyway? Not sure what the songwriters intended, but here is how it connected to my interpretations this morning:
“Welcome to a new age” = changes can be great, business as usual has not been serving many people.
“Checking out of the prison bus” = This sentence was profound as I contemplated today’s meaning. The government has us on lock down to save lives, while pushing mandates on us like never before. While it is not certainly not a popular stance, the truth is it is stripping us of our abilities to make money. I want out of this bus. I know I’m not alone.
“All systems go, the sun hasn't died, Deep in my bones, straight from inside I'm waking up, I feel it in my bones.” The sun still shines every day; in fact, here in Florida where I reside the weather has been phenomenal. I am waking up, not in the literal sense but in the spiritual sense. Maybe this is what it feels to be “woke.” To me this message is loud and clear; I am waking up looking for bigger better things and don’t try to go back to business as usual.
Recovering after the Pandemic.
To each of us, this will indeed be different. First and foremost you want to get your family finances in place and keep your bills current. For some of you, you may want to take on some side work as mobility emerges. For some, you may unite households with other friends and family members to cut cost. In short do what it takes to maintain good credit standing and keep your bills paid.
Build your capitalization:
Time to find investment dollars. Times of struggle has always been said to be a time for great re-distribution of wealth. You will soon be seeing many investment opportunities emerge. Perhaps some of the best opportunities of your life so if you ever pulled up your boot straps and went out to find extra cash now is that time.
Do whatever it takes to get access to cash because we are in for an interesting ride. Those who have capital to invest and are very purposeful in doing so will have an opportunity to amass great wealth.
Quarter two 0f 2020
Be patient. The markets are still trying to find stability. You want to be positioned at the bottom of the buyer’s market so you have a little time to go build up your investment capital.
Welcome to the new age:
It is not what happens to us but rather how we respond to what happens to us.
Time to embrace change Just remain calm, get educated, watch the new markets and embrace the new age, stay tune to HTB for updated market analysis .
We would love to hear the ways you are waking up in the comments below.
The author’s opinion cannot be construed as tax or legal advice, and may not represent the views of HTBUSA or its stakeholders. HTBUSA is not a legal service or professional tax service. As with any investment, there is an inherent risk in investing in real estate.