Hearing the positive news related to vaccine breakthroughs and therapeutics gives us all hope. Someday soon, we may be able to get back to normal life again. Upon reflection, you may realize that things have changed significantly in a short amount of time. Below is a short list of some things to consider as you anticipate life in a Post-COVID-19 world.

Friendships and Family Relationships May Have Shifted

Perhaps a family member you had written off suddenly reached out to check in on you. Or maybe your best friend disappointed you during this crises, or someone you relied on as a trusted contact is no longer able to play a role in your support system. For a myriad of reasons, you may want to focus on rebuilding your personal network. As old friendships may have faded away, new opportunities may have surfaced. Now is a great time to plan a follow up with those people who touched you in a positive way during the pandemic.

Take Time to Re-Assess Past Financial Habits

Are you happy with your financial situation…or feeling panicky? If this crisis found you with too little savings, too much debt, and no safety net, now is the time to put a better plan in place. In this crisis, professionals that never dreamed of income disruption in the past may have experienced it for the first time. With this lesson learned, building cash reserves, such as an emergency fund, can go a long way to provide peace of mind during future times of uncertainty.

Consider Moving Forward with Major Goals

Pre-pandemic you may have planned for travel, a new car, or upgrades to your home. Instead of putting those plans on infinite hold, now may be the time to put things into motion—to the extent possible. This is especially true if you have saved in advance for these goals, or your income is unaffected by the pandemic.

Re-Evaluate Your Service Providers and Professional Relationships

Was your hairdresser a shining star, but your bank impossible to deal with? From time to time, it is always a good idea to evaluate professional relationships and service providers. It could be you want to expand certain services and reduce others. While it is difficult to make changes in certain areas right now, you can reflect on who impressed you the last few months and who disappointed you. You may have even taken over certain work yourself, such as gardening or lawn maintenance. While we believe it is important to have a generous amount of grace in a time of crises, sometimes issues surface that you never realized was a problem. Now may be a good time to put together a wish list of changes you want to make in this area, and when to make them.

The following anonymous quote sums it up well:

“The best view comes after the hardest climb”

We Are Here for You

Navigating through this crisis has been a “hard climb” for all of us. One of the things we have attempted to do with our Friday communications is to let you know we are here, and we want to touch base and continue to serve you—even if only by an e-mail communication. Please reach out to us if you need to talk, have a major financial decision to make, or a significant life event. With any luck, this will all be behind us soon.

Kristina Bolhouse CPA/PFS, CFP®
Vice President/Shareholder

© 2020 The Arkansas Financial Group, Inc., All rights reserved.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by The Arkansas Financial Group, Inc. (“AFG”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from AFG. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. AFG is neither a law firm, nor a certified public accounting firm, and no portion of the newsletter content should be construed as legal or accounting advice. A copy of AFG’s current written disclosure Brochure discussing our advisory services and fees is available upon request.

Please Note: If you are a AFG client, please remember to contact AFG, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. AFG shall continue to rely on the accuracy of information that you have provided.