More Questions and Answers
The world continues to move forward through an unprecedented crisis striking the global community. It does appear as if the viral outbreak in the United States is following the same path as other countries which means the peak could very well occur in the next 14 days. We pray that will be the case.
Questions and Answers
In this update I will answer the following questions:
- What are your current impressions of the economy and the virus crisis?
- Are the markets and headlines necessarily connected?
- How long do you think this will last?
- What can we do as a community to support those in need?
- Do you remain optimistic we will get through this?
As always, if you have any questions, you'd like to ask me personally, please let me know. I'm happy to respond directly to you.
Caring for our Community
We believe it as important as an organization to be a caring and compassionate member of our community. The establishment of our charitable foundation, Kekokua (www.kekoua.org), is a reflection of that belief.
In this difficult time, we have decided to take additional steps beyond our normal charitable contributions to help our community. Three are listed below.
As I shared with you previously, Destination Wealth Management is providing 1000 lunches each week to children who normally rely on school lunches for 2+ meals. We have now extended that contribution until May 1st as most school districts have announced that they will remain closed until then. We are committed to continue this work.
Brave Heroes in Need
You may have been reading about the challenges that first responders have encountered as they attempt to treat those infected by the coronavirus. These brave men and women are on the front lines protecting us from this outbreak and are attempting to heal those who have been impacted by this horrible disease. Words cannot express enough our appreciation for these heroes.
There is a new initiative which we are immediately beginning here at DWM. Beginning next week, we will be providing mealtime deliveries to two hospitals per week for first responders that have neither the time nor resources to have a lunch or dinner to sustain them in their honorable work. It's our honor to help.
At Risk Seniors
Additionally, seniors are most at risk for the worst possible outcomes related to this virus. For that reason, we will be purchasing and delivering food for those who do not have the ability to leave their residence. We want to honor those who deserve our respect and help them in this difficult time.
If you would like to contribute to any of these causes, there are a few links below that you might want to explore. There are many charities that are stepping up to help those in need and I'm sure you can find alternatives to the ones provided below.
Back to finances. The markets have been incredibly volatile, and we expect that to continue. You may have noticed the market bouncing up significantly even as the news on the virus became more dire. Logical? Maybe not. But markets tend to look forward past current conditions after the initial shock wears off.
Remember, markets do not necessarily act rationally nor in lockstep with news. For that reason, a long-term perspective makes a great deal of sense. Short term can be scary, but long term tends to provide the best opportunity for success.
So.........we will get through this awful time. It will take time but stay hopeful about the future. We will continue to stand by you and adjust as needed. Next written update will be later this week. We are all here working for you 100% if you need us.
Be well and stay safe.