Without rehashing the difficulties and challenges that have arisen over the past two and a half years, it’s important to use positive actions to deal with today’s challenges.  It’s a matter of what can you do vs. what you should do.   

One of the great advantages to active investment money management over passive investing strategies is the ability to adjust to changing financial markets.  Active managers should make thoughtful, reasoned changes to a portfolio.  Passive investing tends to remain static to changing markets and can lead to panic selling, often at the least favorable time. 

I believe one of the most critical roles we as a firm play in the lives of our clients is to make reasoned, unemotional investment decisions to meet the client’s long-term goals.  While no investment management style or manager gets it “right” every time, remaining focused and disciplined is a major key to achieving long term goals. 

Secondly, pay attention to your monthly cash flow and debt.  We’re all very aware of how much more it costs to put food on the table and fuel in the car.  If you have outstanding loans or credit card balances that have a variable rate, your interest costs have probably been going up.  

Review what you’re spending each month and see where you can make better use of your money.  Netflix reported losing a million subscribers recently and I believe this occurred because many people are looking to reduce spending on entertainment.  Make sure you know the terms of your mortgage, car loans, student loans or credit cards and investigate to see if changes can be made to reduce the interest costs. 

Finally, use tough times to refine your values and focus on the important people and goals in your life.  Without getting too personal, my family experienced a tragic death of a young cousin this past week.  It reminded me that life’s short no matter how long you live.  Relationships, not things, are most important.  Strive to live in faith, hope and love.