What have you learned from the COVID-19 pandemic?
As Canada starts its second slow thaw of the year, this one from self-imposed isolation measures, it is a good time to reflect on some important lessons learned over the past several months. Here are three of the lessons that I learned:
Appreciating your Financial Risk Tolerance
The stock markets hit their low of the year (so far) in March 2020, suffering a 20%+ (S&P 500, DJIA) decline over their previous highs. As the bottom fell out of the stock markets, some people felt their stomachs drop too.
This provided an excellent barometer for understanding if we were investing in the right things for our own individualized risk tolerance. If you were nervous, or even a little scared, it is probably best to hold a more conservative portfolio. If on the other hand you were okay with, or even excited at the prospect of investing more, you are likely investing with the right level of risk tolerance.
Financial risk tolerance is a very personal decision, but one that can greatly impact both your financial life, and your appreciation of life itself. Stressing about money concerns certainly dulls our sense of enthusiasm. Getting the right mix of risk and return can help you sleep better at night.
Who Do You Miss?
As we have distanced ourselves, we more visibly saw the value and nature of our relationships change. While the way we communicated was definitely different, there were people we regularly saw before COVID that we simply didn’t bump into any more.
This provided an interesting look at our relationships with others. Who was still around, making an effort to send a message or a phone call? And, who wasn’t? Do you miss people you haven’t seen in a while?
It is very infrequent that we truly step back and evaluate the quality of our relationships. Taking a look now that drastic lifestyle changes have impacted us helps deliver some clarity over who really is important in our lives.
Is there someone important to you that you haven’t spoken with in a while? Take 1 minute and send that person a quick text or message.
The Habits of Success are Easy
This final lesson rang especially true in the last couple of weeks, as work increased it’s demands on my time. Thus far during COVID I retained my fairly regimented workout regime. But as work picked up, my yoga mat simply lay there. Unused. No more than 5 feet away.
That is when it hit me.
The habits that lead to success are easy to do. 5 feet away from where I sat for 14+ hours a day was a place to do push ups, crunches, and yoga.
The habits of success are even easier not to do.
This last lesson hit harder than the rest. Success, or the habits that lead to success, are easy to do, but also easy not to do. Making the choice day after day to do the small, positive action will lead you to a life of far greater success and achievement than any one grand action.
Have the past few trying months taught you any lessons? Let us know in the comments.